Mirae Asset Global Investments Co. Ltd. Reduces Position in The Walt Disney Company $DIS

Key Points

• Mirae Asset Global Investments Co. Ltd. reduced its stake in The Walt Disney Company by 6.3% in the second quarter, resulting in ownership of 377,266 shares valued at approximately $46.8 million.
• Walt Disney's stock decreased by 0.7%, trading at $112.14, with a market capitalization of $201.62 billion and a P/E ratio of 17.58.
• Analysts have given Walt Disney a consensus rating of "Moderate Buy" with a target price of $131.18, while Jefferies downgraded it from "strong-buy" to "hold".

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,266 shares of the entertainment giant's stock after selling 25,243 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Walt Disney were worth $46,785,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Physician Wealth Advisors Inc. boosted its position in shares of Walt Disney by 3.5% during the second quarter. Physician Wealth Advisors Inc. now owns 2,606 shares of the entertainment giant's stock valued at $323,000 after buying an additional 87 shares during the last quarter. Childress Capital Advisors LLC boosted its position in shares of Walt Disney by 3.3% during the second quarter. Childress Capital Advisors LLC now owns 2,749 shares of the entertainment giant's stock valued at $341,000 after buying an additional 87 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in Walt Disney by 9.1% in the second quarter. Bruce G. Allen Investments LLC now owns 1,123 shares of the entertainment giant's stock valued at $139,000 after acquiring an additional 94 shares during the period. DiNuzzo Private Wealth Inc. lifted its holdings in Walt Disney by 82.5% in the second quarter. DiNuzzo Private Wealth Inc. now owns 208 shares of the entertainment giant's stock valued at $26,000 after acquiring an additional 94 shares during the period. Finally, Clearstead Trust LLC lifted its holdings in Walt Disney by 0.6% in the first quarter. Clearstead Trust LLC now owns 16,509 shares of the entertainment giant's stock valued at $1,629,000 after acquiring an additional 99 shares during the period. 65.71% of the stock is owned by hedge funds and other institutional investors.

Walt Disney Stock Down 0.7%

NYSE DIS opened at $112.14 on Friday. The stock's 50-day moving average price is $116.30 and its 200-day moving average price is $109.86. 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. The company has a market capitalization of $201.62 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.48 and a beta of 1.54.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Jefferies Financial Group downgraded Walt Disney from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Morgan Stanley increased their target price on Walt Disney from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Wall Street Zen downgraded Walt Disney from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 20th. UBS Group increased their target price on Walt Disney from $120.00 to $138.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Raymond James Financial reissued a "neutral" rating on shares of Walt Disney in a report on Monday, August 11th. Nineteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Walt Disney has an average rating of "Moderate Buy" and a consensus target price of $131.18.

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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