The Walt Disney Company (NYSE:DIS) is Granite Group Advisors LLC’s Largest Position

Granite Group Advisors LLC grew its holdings in shares of The Walt Disney Company (NYSE:DIS) by 47.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 739,835 shares of the entertainment giant’s stock after acquiring an additional 238,893 shares during the quarter. Walt Disney comprises 45.7% of Granite Group Advisors LLC’s portfolio, making the stock its largest holding. Granite Group Advisors LLC’s holdings in Walt Disney were worth $71,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. ESL Trust Services LLC purchased a new position in Walt Disney during the 1st quarter valued at $31,000. William B. Walkup & Associates Inc. bought a new stake in shares of Walt Disney during the 2nd quarter valued at about $32,000. Mascoma Wealth Management LLC increased its position in shares of Walt Disney by 38.0% during the second quarter. Mascoma Wealth Management LLC now owns 443 shares of the entertainment giant’s stock valued at $44,000 after buying an additional 122 shares during the period. First PREMIER Bank raised its stake in Walt Disney by 98.1% in the third quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock worth $50,000 after buying an additional 256 shares in the last quarter. Finally, Iron Horse Wealth Management LLC lifted its holdings in Walt Disney by 148.7% in the second quarter. Iron Horse Wealth Management LLC now owns 557 shares of the entertainment giant’s stock worth $55,000 after buying an additional 333 shares during the period. Institutional investors own 65.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DIS. Deutsche Bank Aktiengesellschaft dropped their price target on Walt Disney from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Piper Sandler initiated coverage on shares of Walt Disney in a report on Wednesday, October 16th. They set a “neutral” rating and a $95.00 target price on the stock. Morgan Stanley lowered their price target on shares of Walt Disney from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Wells Fargo & Company dropped their price objective on shares of Walt Disney from $136.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Walt Disney from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Walt Disney presently has an average rating of “Moderate Buy” and a consensus price target of $118.05.

Walt Disney Stock Performance

DIS traded down $0.89 during trading on Friday, hitting $98.04. The company’s stock had a trading volume of 1,152,823 shares, compared to its average volume of 10,694,352. The business’s 50 day simple moving average is $93.54 and its 200-day simple moving average is $97.12. The firm has a market cap of $177.80 billion, a PE ratio of 38.05, a P/E/G ratio of 1.52 and a beta of 1.40. The Walt Disney Company has a one year low of $83.91 and a one year high of $123.74. 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 announced its earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19. Walt Disney had a return on equity of 8.64% and a net margin of 5.30%. The company had revenue of $23.20 billion for the quarter, compared to analysts’ expectations of $23.08 billion. During the same period last year, the firm earned $1.03 EPS. Walt Disney’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, sell-side analysts predict that The Walt Disney Company will post 4.93 EPS for the current fiscal year.

About Walt Disney

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.