Costello Asset Management INC Sells 4,347 Shares of The Walt Disney Company (NYSE:DIS)

Key Points

• Costello Asset Management INC significantly reduced its stake in The Walt Disney Company by 60.9% during the first quarter, now holding only 2,786 shares, valued at approximately $275,000.
• Analysts are generally positive, with several research firms raising price targets on Disney shares to between $112 and $140, indicating a consensus rating of "Moderate Buy".
• Walt Disney's stock has shown resilience, with shares up 2.4%, and the company reporting a quarterly EPS of $1.45, exceeding analysts' expectations.

Costello Asset Management INC reduced its position in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 60.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,786 shares of the entertainment giant's stock after selling 4,347 shares during the period. Costello Asset Management INC's holdings in Walt Disney were worth $275,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DIS. Brighton Jones LLC increased its position in shares of Walt Disney by 7.7% in the fourth quarter. Brighton Jones LLC now owns 26,767 shares of the entertainment giant's stock worth $2,980,000 after purchasing an additional 1,904 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Walt Disney in the fourth quarter worth $498,000. Titleist Asset Management LLC raised its holdings in shares of Walt Disney by 3.1% in the 4th quarter. Titleist Asset Management LLC now owns 7,397 shares of the entertainment giant's stock valued at $824,000 after acquiring an additional 224 shares in the last quarter. Waterloo Capital L.P. raised its position in shares of Walt Disney by 3.2% during the 4th quarter. Waterloo Capital L.P. now owns 3,138 shares of the entertainment giant's stock valued at $349,000 after buying an additional 97 shares in the last quarter. Finally, Wellspring Financial Advisors LLC grew its position in Walt Disney by 12.0% during the fourth quarter. Wellspring Financial Advisors LLC now owns 2,567 shares of the entertainment giant's stock valued at $286,000 after acquiring an additional 276 shares during the last quarter. 65.71% of the stock is owned by institutional investors.

Insider Buying and Selling at Walt Disney

In related news, EVP Brent Woodford sold 1,000 shares of Walt Disney 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 sale, the executive vice president directly owned 46,831 shares of the company's stock, valued at $5,190,748.04. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Walt Disney Stock Performance

NYSE DIS traded down $3.01 on Wednesday, hitting $115.32. 21,887,708 shares of the company's stock were exchanged, compared to its average volume of 7,550,567. The Walt Disney Company has a fifty-two week low of $80.10 and a fifty-two week high of $124.69. The firm has a market cap of $207.31 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 1.73 and a beta of 1.56. The firm's 50-day moving average price is $119.08 and its two-hundred day moving average price is $107.89. 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 issued its quarterly earnings data on Wednesday, August 6th. The entertainment giant reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.16. Walt Disney had a return on equity of 9.99% and a net margin of 9.47%. The firm had revenue of $23.65 billion during the quarter, compared to the consensus estimate of $23.69 billion. During the same period in the prior year, the business earned $1.39 EPS. The firm's revenue was up 2.1% on a year-over-year basis. On average, research analysts expect that The Walt Disney Company will post 5.47 EPS for the current year.

Wall Street Analysts Forecast Growth

DIS has been the subject of several research analyst reports. UBS Group lifted their price objective on Walt Disney from $120.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Needham & Company LLC reaffirmed a "buy" rating and set a $125.00 target price on shares of Walt Disney in a research report on Thursday, May 8th. Barclays lifted their price target on Walt Disney from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Loop Capital boosted their price objective on Walt Disney from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Walt Disney from $130.00 to $138.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $129.83.

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.