CCM Investment Advisers LLC Lowers Stake in The Walt Disney Company (NYSE:DIS)

CCM Investment Advisers LLC lessened its position in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 2.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 93,623 shares of the entertainment giant's stock after selling 2,451 shares during the quarter. CCM Investment Advisers LLC's holdings in Walt Disney were worth $9,241,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DIS. Geode Capital Management LLC grew its stake in shares of 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 last quarter. Northern Trust Corp grew its stake in shares of Walt Disney by 10.4% in the 4th quarter. Northern Trust Corp now owns 22,242,415 shares of the entertainment giant's stock valued at $2,476,693,000 after purchasing an additional 2,096,431 shares during the last quarter. Norges Bank purchased a new position in shares of Walt Disney in the 4th quarter valued at approximately $2,415,427,000. Bank of New York Mellon Corp grew its stake in shares of Walt Disney by 15.5% in the 4th quarter. Bank of New York Mellon Corp now owns 17,104,295 shares of the entertainment giant's stock valued at $1,904,563,000 after purchasing an additional 2,300,912 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Walt Disney by 21.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,867,017 shares of the entertainment giant's stock valued at $1,878,142,000 after purchasing an additional 3,016,339 shares during the last quarter. Hedge funds and other institutional investors own 65.71% of the company's stock.

Insider Activity at Walt Disney

In other Walt Disney news, EVP Brent Woodford sold 1,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $110.84, for a total transaction of $110,840.00. Following the completion of the sale, the executive vice president now owns 46,831 shares of the company's stock, valued at approximately $5,190,748.04. The trade was a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company's stock.

Walt Disney Price Performance

Shares of NYSE DIS traded down $0.76 during trading on Friday, reaching $117.85. The company had a trading volume of 13,143,189 shares, compared to its average volume of 10,094,029. The stock has a market capitalization of $211.86 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 1.80 and a beta of 1.54. The stock has a 50-day moving average price of $101.58 and a two-hundred day moving average price of $105.85. The Walt Disney Company has a twelve month low of $80.10 and a twelve month high of $120.50. 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, May 7th. The entertainment giant reported $1.45 EPS for the quarter, beating the consensus estimate of $1.21 by $0.24. The firm had revenue of $23.62 billion during the quarter, compared to analyst estimates of $23.15 billion. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. The business's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.21 earnings per share. As a group, sell-side analysts predict that The Walt Disney Company will post 5.47 earnings per share for the current year.

Analyst Ratings Changes

DIS has been the topic of several analyst reports. Morgan Stanley lifted their target price on Walt Disney from $110.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Barclays lifted their target price on Walt Disney from $115.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Wolfe Research raised Walt Disney from a "peer perform" rating to an "outperform" rating and set a $112.00 price target for the company in a report on Monday, April 21st. Rosenblatt Securities raised their price target on Walt Disney from $135.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Finally, Loop Capital raised their price target on Walt Disney from $125.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $123.96.

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.