Summit Securities Group LLC Invests $468,000 in The Walt Disney Company (NYSE:DIS)

Summit Securities Group LLC purchased a new stake in shares of The Walt Disney Company (NYSE:DIS) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,200 shares of the entertainment giant’s stock, valued at approximately $468,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in Walt Disney by 0.6% during the 3rd quarter. State Street Corp now owns 77,596,191 shares of the entertainment giant’s stock worth $7,463,978,000 after purchasing an additional 490,681 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Walt Disney by 3.8% in the third quarter. Geode Capital Management LLC now owns 37,672,320 shares of the entertainment giant’s stock worth $3,609,833,000 after buying an additional 1,393,082 shares in the last quarter. Norges Bank bought a new position in shares of Walt Disney in the fourth quarter valued at approximately $2,415,427,000. Jennison Associates LLC grew its stake in Walt Disney by 23.4% during the fourth quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock valued at $2,137,637,000 after acquiring an additional 3,636,742 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Walt Disney by 15.5% in the fourth quarter. Bank of New York Mellon Corp now owns 17,104,295 shares of the entertainment giant’s stock worth $1,904,563,000 after purchasing an additional 2,300,912 shares during the period. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DIS shares. Loop Capital boosted their target price on Walt Disney from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Redburn Atlantic upgraded shares of Walt Disney from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $100.00 to $147.00 in a research report on Tuesday, January 7th. Needham & Company LLC reissued a “buy” rating and issued a $130.00 price target on shares of Walt Disney in a report on Wednesday, February 5th. The Goldman Sachs Group lifted their price objective on shares of Walt Disney from $137.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley increased their target price on Walt Disney from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.64.

Walt Disney Stock Down 2.4 %

Shares of NYSE:DIS opened at $98.02 on Friday. The Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.68 and a quick ratio of 0.62. The stock’s 50-day moving average is $107.31 and its 200 day moving average is $105.07. The company has a market cap of $177.19 billion, a PE ratio of 31.93, a P/E/G ratio of 1.80 and a beta of 1.41.

Walt Disney (NYSE:DIS) last announced its earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.32. Walt Disney had a net margin of 6.07% and a return on equity of 9.95%. Sell-side analysts anticipate that The Walt Disney Company will post 5.47 EPS for the current 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.