Norway Savings Bank Sells 3,001 Shares of The Walt Disney Company (NYSE:DIS)

Norway Savings Bank lessened its stake in The Walt Disney Company (NYSE:DIS) by 19.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,694 shares of the entertainment giant’s stock after selling 3,001 shares during the period. Norway Savings Bank’s holdings in Walt Disney were worth $1,221,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new stake in Walt Disney during the 4th quarter valued at $123,000. Leo Wealth LLC bought a new stake in shares of Walt Disney in the fourth quarter worth about $349,000. Kapitalo Investimentos Ltda purchased a new position in Walt Disney during the 4th quarter valued at about $165,000. ST Germain D J Co. Inc. raised its position in Walt Disney by 138.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 71,652 shares of the entertainment giant’s stock valued at $8,767,000 after purchasing an additional 41,548 shares during the last quarter. Finally, Cravens & Co Advisors LLC purchased a new stake in Walt Disney in the first quarter worth $220,000. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Calvin Mcdonald bought 11,756 shares of the stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $85.06 per share, with a total value of $999,965.36. Following the completion of the acquisition, the director now owns 22,313 shares in the company, valued at $1,897,943.78. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Walt Disney Stock Performance

DIS traded down $0.76 during midday trading on Tuesday, hitting $94.21. 2,318,232 shares of the company traded hands, compared to its average volume of 10,985,272. The company’s 50-day moving average is $90.99 and its 200 day moving average is $99.46. The Walt Disney Company has a 52 week low of $79.23 and a 52 week high of $123.74. The firm has a market capitalization of $171.75 billion, a PE ratio of 103.18, a price-to-earnings-growth ratio of 1.49 and a beta of 1.40. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.38.

Walt Disney (NYSE:DIS) last issued its earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.19. The company had revenue of $23.20 billion for the quarter, compared to analysts’ expectations of $23.08 billion. Walt Disney had a net margin of 5.30% and a return on equity of 8.64%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. On average, research analysts expect that The Walt Disney Company will post 4.92 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DIS. Barclays dropped their target price on shares of Walt Disney from $130.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Evercore ISI decreased their target price on Walt Disney from $128.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Morgan Stanley decreased their price objective on Walt Disney from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. The Goldman Sachs Group began coverage on shares of Walt Disney in a report on Tuesday, June 25th. They set a “buy” rating and a $125.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Walt Disney from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Walt Disney currently has a consensus rating of “Moderate Buy” and an average price target of $119.20.

Walt Disney Profile

The Walt Disney Company operates as an entertainment company worldwide. It operates through three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television video streaming content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the ABC Signature, Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners.