Conning Inc. Sells 3,113 Shares of The Walt Disney Company (NYSE:DIS)

Conning Inc. cut its position in The Walt Disney Company (NYSE:DIS - Free Report) by 6.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,598 shares of the entertainment giant's stock after selling 3,113 shares during the period. Conning Inc.'s holdings in Walt Disney were worth $4,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Mpwm Advisory Solutions LLC bought a new stake in Walt Disney in the fourth quarter worth $27,000. Kessler Investment Group LLC raised its stake in 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. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Walt Disney in the 4th quarter worth $32,000. Copia Wealth Management bought a new position in shares of Walt Disney in the 4th quarter worth $36,000. Finally, Vision Financial Markets LLC bought a new position in shares of Walt Disney in the 4th quarter worth $39,000. Institutional investors own 65.71% of the company's stock.

Analyst Upgrades and Downgrades

DIS has been the topic of several research reports. Rosenblatt Securities increased their price target on shares of Walt Disney from $135.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Morgan Stanley upped their price target on Walt Disney from $110.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. UBS Group raised their target price on Walt Disney from $105.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Wolfe Research raised shares of Walt Disney from a "peer perform" rating to an "outperform" rating and set a $112.00 price target on the stock in a research report on Monday, April 21st. Finally, Guggenheim lifted their target price on Walt Disney from $120.00 to $140.00 and gave the company a "buy" rating in a report on Friday, June 27th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Walt Disney currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.83.

Walt Disney Stock Up 0.8%

Shares of DIS traded up $1.00 during mid-day trading on Friday, hitting $123.98. 4,252,305 shares of the company's stock were exchanged, compared to its average volume of 10,037,800. The company has a market cap of $222.88 billion, a PE ratio of 25.35, a P/E/G ratio of 1.81 and a beta of 1.56. The Walt Disney Company has a 52 week low of $80.10 and a 52 week high of $124.69. The company has a 50-day simple moving average of $111.19 and a 200 day simple moving average of $106.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.67 and a quick ratio of 0.61.

Walt Disney (NYSE:DIS - Get Free Report) last posted its earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.24. Walt Disney had a return on equity of 9.99% and a net margin of 9.47%. The company had revenue of $23.62 billion during the quarter, compared to the consensus estimate of $23.15 billion. During the same quarter last year, the firm earned $1.21 earnings per share. The company's revenue was up 7.0% on a year-over-year basis. On average, research analysts forecast that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Brent Woodford sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $110.84, for a total transaction of $110,840.00. Following the transaction, the executive vice president directly owned 46,831 shares of the company's stock, valued at $5,190,748.04. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by insiders.

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.