Pinebridge Investments L.P. Sells 249,901 Shares of The Walt Disney Company (NYSE:DIS)

Pinebridge Investments L.P. lowered its stake in The Walt Disney Company (NYSE:DIS - Free Report) by 46.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 286,611 shares of the entertainment giant's stock after selling 249,901 shares during the period. Pinebridge Investments L.P.'s holdings in Walt Disney were worth $31,914,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of DIS. Geode Capital Management LLC boosted its holdings in Walt Disney by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 38,482,309 shares of the entertainment giant's stock valued at $4,272,590,000 after purchasing an additional 809,989 shares during the period. Norges Bank acquired a new position in Walt Disney in the 4th quarter valued at $2,415,427,000. Jennison Associates LLC lifted its position in shares of Walt Disney by 23.4% during the 4th 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 during the period. Bank of New York Mellon Corp grew its holdings in shares of Walt Disney by 15.5% during the 4th 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Walt Disney by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,136,276 shares of the entertainment giant's stock worth $1,240,025,000 after purchasing an additional 192,871 shares during the period. Institutional investors and hedge funds own 65.71% of the company's stock.

Walt Disney Stock Up 0.2 %

Walt Disney stock traded up $0.22 during trading on Friday, hitting $90.23. 7,747,097 shares of the company were exchanged, compared to its average volume of 10,089,261. The Walt Disney Company has a 52 week low of $80.10 and a 52 week high of $118.63. The company has a market capitalization of $163.12 billion, a P/E ratio of 29.39, a PEG ratio of 1.80 and a beta of 1.44. The business's 50 day moving average is $97.40 and its 200 day moving average is $104.10. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36.

Walt Disney (NYSE:DIS - Get Free Report) last released its earnings results on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.32. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. Analysts predict that The Walt Disney Company will post 5.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DIS. UBS Group reduced their price objective on shares of Walt Disney from $130.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Redburn Atlantic raised Walt Disney from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $100.00 to $147.00 in a report on Tuesday, January 7th. Wolfe Research raised Walt Disney from a "peer perform" rating to an "outperform" rating and set a $112.00 price objective on the stock in a research note on Monday. Rosenblatt Securities reissued a "buy" rating and issued a $135.00 target price on shares of Walt Disney in a report on Monday, February 10th. Finally, Barclays lowered their price objective on shares of Walt Disney from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $123.75.

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.