1832 Asset Management L.P. Sells 679,044 Shares of The Walt Disney Company $DIS

Key Points

• 1832 Asset Management L.P. significantly reduced its stake in The Walt Disney Company by 86.2%, selling 679,044 shares and maintaining just 108,806 shares, valued at approximately $10.74 million.
• The Walt Disney Company's stock increased by 2.1% and currently trades at around $118.66, with a market capitalization of $213.35 billion.
• In its latest earnings report, Disney exceeded EPS estimates with a reported $1.61, beating the consensus of $1.45, while year-over-year revenue grew by 2.1%.

1832 Asset Management L.P. cut its holdings in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 86.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,806 shares of the entertainment giant's stock after selling 679,044 shares during the quarter. 1832 Asset Management L.P.'s holdings in Walt Disney were worth $10,739,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Walt Disney during the first quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Walt Disney in the fourth quarter worth about $27,000. Kessler Investment Group LLC lifted its holdings in shares of Walt Disney by 274.0% in the first quarter. Kessler Investment Group LLC now owns 273 shares of the entertainment giant's stock worth $27,000 after buying an additional 200 shares in the last quarter. Copia Wealth Management purchased a new stake in shares of Walt Disney in the fourth quarter worth about $36,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Walt Disney in the fourth quarter worth about $39,000. 65.71% of the stock is owned by hedge funds and other institutional investors.

Walt Disney Stock Up 2.1%

Shares of NYSE DIS opened at $118.6640 on Friday. The Walt Disney Company has a one year low of $80.10 and a one year high of $124.69. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.72 and a quick ratio of 0.66. The firm's 50 day simple moving average is $119.22 and its two-hundred day simple moving average is $108.23. The stock has a market capitalization of $213.35 billion, a P/E ratio of 18.60, a PEG ratio of 1.72 and a beta of 1.56.

Walt Disney (NYSE:DIS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.16. Walt Disney had a net margin of 12.22% and a return on equity of 9.67%. The business had revenue of $23.65 billion for the quarter, compared to analysts' expectations of $23.69 billion. During the same period last year, the business earned $1.39 earnings per share. The business's quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts expect that The Walt Disney Company will post 5.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Walt Disney from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 20th. Chardan Capital reaffirmed a "buy" rating on shares of Walt Disney in a research note on Monday, August 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $125.00 target price on shares of Walt Disney in a research note on Thursday, August 7th. Rosenblatt Securities raised their target price on shares of Walt Disney from $140.00 to $141.00 and gave the company a "buy" rating in a research note on Monday, August 11th. Finally, Guggenheim raised their target price on shares of Walt Disney from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $131.18.

Walt Disney 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.

Want to see what other hedge funds are holding DIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Walt Disney Company (NYSE:DIS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.