Coastal Investment Advisors Inc. lowered its position in The Walt Disney Company (NYSE:DIS) by 16.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,929 shares of the entertainment giant’s stock after selling 4,628 shares during the period. The Walt Disney makes up 1.2% of Coastal Investment Advisors Inc.’s holdings, making the stock its 12th biggest position. Coastal Investment Advisors Inc.’s holdings in The Walt Disney were worth $4,336,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. Campbell Capital Management Inc. purchased a new stake in The Walt Disney during the 4th quarter worth about $272,000. Redpoint Investment Management Pty Ltd grew its holdings in The Walt Disney by 4.4% in the 4th quarter. Redpoint Investment Management Pty Ltd now owns 44,902 shares of the entertainment giant’s stock valued at $8,135,000 after buying an additional 1,895 shares during the period. Global Retirement Partners LLC grew its holdings in The Walt Disney by 10.6% in the 4th quarter. Global Retirement Partners LLC now owns 28,485 shares of the entertainment giant’s stock valued at $5,161,000 after buying an additional 2,738 shares during the period. Shulman DeMeo Asset Management LLC grew its holdings in The Walt Disney by 9.4% in the 4th quarter. Shulman DeMeo Asset Management LLC now owns 6,771 shares of the entertainment giant’s stock valued at $1,227,000 after buying an additional 581 shares during the period. Finally, Radnor Capital Management LLC grew its holdings in The Walt Disney by 1.6% in the 4th quarter. Radnor Capital Management LLC now owns 31,646 shares of the entertainment giant’s stock valued at $5,734,000 after buying an additional 497 shares during the period. Institutional investors and hedge funds own 57.46% of the company’s stock.
In other news, CEO Robert A. Chapek sold 9,537 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $140.00, for a total value of $1,335,180.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alan N. Braverman sold 48,908 shares of the business’s stock in a transaction that occurred on Tuesday, November 24th. The shares were sold at an average price of $150.00, for a total value of $7,336,200.00. Following the completion of the sale, the executive vice president now owns 126,954 shares of the company’s stock, valued at $19,043,100. The disclosure for this sale can be found here. Insiders have sold a total of 128,903 shares of company stock worth $20,128,600 over the last 90 days. 0.31% of the stock is owned by company insiders.
The Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Thursday, November 12th. The entertainment giant reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.48. The Walt Disney had a positive return on equity of 4.05% and a negative net margin of 4.38%. The company had revenue of $14.71 billion for the quarter, compared to the consensus estimate of $14.10 billion. During the same period in the previous year, the business earned $1.07 EPS. The Walt Disney’s revenue for the quarter was down 23.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Walt Disney Company will post 2.05 EPS for the current year.
Several equities analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on The Walt Disney from $142.00 to $156.00 and gave the company a “buy” rating in a research note on Friday, November 13th. Credit Suisse Group lifted their price objective on The Walt Disney from $146.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, December 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $210.00 price objective on shares of The Walt Disney in a research note on Sunday, December 27th. Truist assumed coverage on The Walt Disney in a research note on Thursday, December 10th. They issued a “buy” rating and a $175.00 price objective on the stock. Finally, Moffett Nathanson lifted their price objective on The Walt Disney from $118.00 to $136.00 and gave the company a “neutral” rating in a research note on Thursday, October 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $159.17.
The Walt Disney Company Profile
The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates domestic cable networks under the Disney, ESPN, Freeform, FX, and National Geographic brands; and television broadcast network under the ABC brand, as well as eight domestic television stations.
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