Cove Private Wealth LLC Boosts Stake in The Walt Disney Company $DIS

Key Points

• Cove Private Wealth LLC increased its stake in The Walt Disney Company by 37.7% during the second quarter, holding shares worth approximately $2.23 million.
• Analysts have a consensus rating of "Moderate Buy" for Disney's stock, with a target price raised to $140 by multiple brokerages.
• The Walt Disney Company reported an EPS of $1.61 for its last quarter, surpassing estimates and showing a 2.1% year-over-year revenue increase.

Cove Private Wealth LLC raised its position in The Walt Disney Company (NYSE:DIS - Free Report) by 37.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,970 shares of the entertainment giant's stock after purchasing an additional 4,917 shares during the quarter. Cove Private Wealth LLC's holdings in Walt Disney were worth $2,228,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Patton Fund Management Inc. purchased a new stake in Walt Disney in the 2nd quarter worth about $302,000. Kathmere Capital Management LLC increased its position in shares of Walt Disney by 37.5% during the second quarter. Kathmere Capital Management LLC now owns 5,932 shares of the entertainment giant's stock worth $736,000 after acquiring an additional 1,619 shares during the period. Investment Partners Asset Management Inc. purchased a new position in shares of Walt Disney during the second quarter worth approximately $206,000. Vision Capital Management Inc. increased its position in shares of Walt Disney by 3.1% during the second quarter. Vision Capital Management Inc. now owns 59,798 shares of the entertainment giant's stock worth $7,416,000 after acquiring an additional 1,782 shares during the period. Finally, Swisher Financial Concepts Inc. purchased a new position in shares of Walt Disney during the second quarter worth approximately $213,000. 65.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DIS. Guggenheim raised their target price on shares of Walt Disney from $120.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Morgan Stanley raised their target price on shares of Walt Disney from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Raymond James Financial reaffirmed a "neutral" rating on shares of Walt Disney in a research report on Monday, August 11th. Barclays raised their target price on shares of Walt Disney from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Finally, Citigroup raised their target price on shares of Walt Disney from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.18.

Walt Disney Stock Performance

Shares of DIS stock opened at $113.46 on Friday. The firm has a market cap of $203.99 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.63 and a beta of 1.55. The company's 50 day moving average is $116.96 and its 200 day moving average is $109.44. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.32. The Walt Disney Company has a 52-week low of $80.10 and a 52-week high of $124.69.

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

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.

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