Hartford Financial Management Inc. Decreases Stake in The Walt Disney Company $DIS

Key Points

• Hartford Financial Management Inc. reduced its stake in The Walt Disney Company by 9.1%, holding 36,337 shares valued at approximately $4.5 million.
• Walt Disney reported an earnings per share (EPS) of $1.61, exceeding estimates, while its revenue of $23.65 billion fell slightly short of expectations.
• Brokerages have been upgrading their ratings and price targets for Disney, with JPMorgan raising the target from $130 to $138 and maintaining an "overweight" rating.

Hartford Financial Management Inc. lessened its stake in The Walt Disney Company (NYSE:DIS - Free Report) by 9.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,337 shares of the entertainment giant's stock after selling 3,628 shares during the quarter. Walt Disney accounts for 1.2% of Hartford Financial Management Inc.'s investment portfolio, making the stock its 23rd largest position. Hartford Financial Management Inc.'s holdings in Walt Disney were worth $4,506,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AG2R LA Mondiale Gestion D Actifs lifted its holdings in shares of Walt Disney by 0.6% in the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 67,266 shares of the entertainment giant's stock valued at $8,342,000 after purchasing an additional 405 shares in the last quarter. Focus Partners Advisor Solutions LLC raised its position in shares of Walt Disney by 3.3% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 49,820 shares of the entertainment giant's stock worth $6,176,000 after purchasing an additional 1,602 shares during the last quarter. Hobart Private Capital LLC purchased a new stake in Walt Disney in the 2nd quarter valued at approximately $463,000. Richards Merrill & Peterson Inc. increased its position in Walt Disney by 3.6% during the second quarter. Richards Merrill & Peterson Inc. now owns 5,069 shares of the entertainment giant's stock worth $629,000 after buying an additional 174 shares in the last quarter. Finally, Sage Mountain Advisors LLC raised its holdings in shares of Walt Disney by 20.7% in the second quarter. Sage Mountain Advisors LLC now owns 8,939 shares of the entertainment giant's stock worth $1,109,000 after acquiring an additional 1,532 shares during the last quarter. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Walt Disney Stock Down 1.2%

Shares of NYSE DIS opened at $111.64 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.72. The Walt Disney Company has a 1 year low of $80.10 and a 1 year high of $124.69. The stock's 50-day simple moving average is $114.64 and its 200-day simple moving average is $111.64. The firm has a market cap of $200.72 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.48 and a beta of 1.54.

Walt Disney (NYSE:DIS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.16. The business had revenue of $23.65 billion during 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%. The business's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 earnings per share. As a group, equities analysts anticipate that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DIS. JPMorgan Chase & Co. lifted their price target on shares of Walt Disney from $130.00 to $138.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Chardan Capital restated a "buy" rating on shares of Walt Disney in a research note on Monday, August 11th. Stephens reaffirmed a "buy" rating on shares of Walt Disney in a research note on Monday, August 11th. Barclays increased 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, UBS Group boosted their price objective on shares of Walt Disney from $120.00 to $138.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Nineteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $132.90.

Walt Disney Company 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.

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