First Foundation Advisors Sells 3,678 Shares of The Walt Disney Company (NYSE:DIS)

Key Points

• First Foundation Advisors reduced its stake in The Walt Disney Company by 5.6%, selling 3,678 shares and retaining 62,015 shares valued at approximately $6.12 million.
• Walt Disney's shares are currently trading at $120.36, having a market capitalization of $216.38 billion and a P/E ratio of 24.61.
• Analysts have upgraded Disney’s stock rating, raising price targets, with Jefferies increasing it from $100 to $144, indicating strong bullish sentiment among analysts.

First Foundation Advisors cut its stake in The Walt Disney Company (NYSE:DIS - Free Report) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,015 shares of the entertainment giant's stock after selling 3,678 shares during the period. First Foundation Advisors' holdings in Walt Disney were worth $6,121,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Walt Disney by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 38,482,309 shares of the entertainment giant's stock worth $4,272,590,000 after buying an additional 809,989 shares in the last quarter. Northern Trust Corp lifted its holdings 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 worth $2,476,693,000 after purchasing an additional 2,096,431 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Walt Disney by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 17,821,361 shares of the entertainment giant's stock worth $1,758,968,000 after purchasing an additional 717,066 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 worth $1,878,142,000 after purchasing an additional 3,016,339 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Walt Disney by 1.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,136,276 shares of the entertainment giant's stock worth $1,240,025,000 after purchasing an additional 192,871 shares in the last quarter. 65.71% of the stock is currently owned by institutional investors.

Walt Disney Stock Down 2.1%

DIS stock traded down $2.54 during midday trading on Friday, hitting $116.57. The stock had a trading volume of 8,484,842 shares, compared to its average volume of 9,729,400. The firm has a market cap of $209.56 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 1.75 and a beta of 1.56. The business has a 50-day moving average of $118.62 and a two-hundred day moving average of $107.66. The Walt Disney Company has a 52-week low of $80.10 and a 52-week high of $124.69. 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 released its earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 EPS for the quarter, topping the consensus estimate of $1.21 by $0.24. Walt Disney had a return on equity of 9.99% and a net margin of 9.47%. The business had revenue of $23.62 billion for the quarter, compared to the consensus estimate of $23.15 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Walt Disney news, EVP Brent Woodford sold 1,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $110.84, for a total value of $110,840.00. Following the transaction, the executive vice president owned 46,831 shares of the company's stock, valued at approximately $5,190,748.04. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley increased 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. Needham & Company LLC reissued a "buy" rating and issued a $125.00 price target on shares of Walt Disney in a research report on Thursday, May 8th. Jefferies Financial Group raised Walt Disney from a "hold" rating to a "buy" rating and increased their price target for the company from $100.00 to $144.00 in a research report on Monday, June 30th. Citigroup raised their target price on Walt Disney from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Rosenblatt Securities raised their target price on Walt Disney from $135.00 to $140.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $128.70.

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.