Walt Disney (NYSE:DIS) Shares Down 9.4%

The Walt Disney Company (NYSE:DIS)’s stock price fell 9.4% on Tuesday . The company traded as low as $104.60 and last traded at $105.51. 26,454,126 shares traded hands during mid-day trading, an increase of 126% from the average session volume of 11,695,870 shares. The stock had previously closed at $116.47.

Analyst Ratings Changes

A number of research firms have weighed in on DIS. Macquarie upped their target price on Walt Disney from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Wells Fargo & Company upped their price target on shares of Walt Disney from $128.00 to $141.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Rosenblatt Securities raised their price objective on Walt Disney from $129.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. UBS Group boosted their price objective on shares of Walt Disney from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Walt Disney from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.17.

Walt Disney Stock Down 9.5 %

The firm has a market capitalization of $193.32 billion, a PE ratio of 64.66, a PEG ratio of 1.39 and a beta of 1.40. The company has a current ratio of 0.84, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The stock has a 50 day simple moving average of $114.67 and a 200 day simple moving average of $101.05.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Tuesday, February 6th. The entertainment giant reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.25. Walt Disney had a net margin of 3.36% and a return on equity of 7.88%. The company had revenue of $23.50 billion during the quarter, compared to analyst estimates of $23.71 billion. During the same period in the prior year, the business posted $0.99 EPS. The firm’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts forecast that The Walt Disney Company will post 4.7 earnings per share for the current year.

Walt Disney Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, July 25th. Investors of record on Monday, July 8th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a yield of 0.5%. Walt Disney’s dividend payout ratio is presently 18.52%.

Insiders Place Their Bets

In other Walt Disney news, EVP Sonia L. Coleman sold 1,857 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $121.92, for a total transaction of $226,405.44. Following the transaction, the executive vice president now directly owns 4,400 shares of the company’s stock, valued at approximately $536,448. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Walt Disney

Several large investors have recently bought and sold shares of the stock. Trian Fund Management L.P. raised its stake in Walt Disney by 411.6% in the third quarter. Trian Fund Management L.P. now owns 32,868,307 shares of the entertainment giant’s stock valued at $2,663,976,000 after buying an additional 26,443,257 shares in the last quarter. Norges Bank purchased a new stake in Walt Disney during the fourth quarter worth approximately $1,938,647,000. Jennison Associates LLC acquired a new position in Walt Disney in the first quarter valued at approximately $1,490,492,000. ValueAct Holdings L.P. acquired a new stake in Walt Disney during the fourth quarter worth approximately $459,245,000. Finally, First Eagle Investment Management LLC purchased a new position in Walt Disney during the 3rd quarter worth $326,171,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Walt Disney Company 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.