NORTHSTAR ASSET MANAGEMENT Co Reduces Position in The Walt Disney Company $DIS

Key Points

• NORTHSTAR ASSET MANAGEMENT Co has reduced its position in The Walt Disney Company by 23.9%, owning 15,870 shares after selling 4,988 shares in the second quarter.
• Despite the reduced stake, several hedge funds have increased their investments in Walt Disney, with notable purchases including Kingstone Capital Partners investing $4.2 billion and Diamond Hill Capital Management increasing its stake by 1,080.7%.
• Walt Disney reported an earnings per share (EPS) of $1.61 for the last quarter, surpassing estimates by $0.16, while its revenue was $23.65 billion, slightly below analyst expectations.

NORTHSTAR ASSET MANAGEMENT Co lessened its position in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 23.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,870 shares of the entertainment giant's stock after selling 4,988 shares during the quarter. NORTHSTAR ASSET MANAGEMENT Co's holdings in Walt Disney were worth $1,968,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC purchased a new position in shares of Walt Disney in the 2nd quarter valued at approximately $4,220,599,000. Nuveen LLC purchased a new position in shares of Walt Disney in the 1st quarter valued at approximately $1,353,607,000. Diamond Hill Capital Management Inc. grew its stake in shares of Walt Disney by 1,080.7% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,816,548 shares of the entertainment giant's stock valued at $277,993,000 after purchasing an additional 2,578,004 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Walt Disney by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 155,862,361 shares of the entertainment giant's stock valued at $15,383,615,000 after purchasing an additional 2,446,087 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Walt Disney by 9.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,509,924 shares of the entertainment giant's stock valued at $1,826,930,000 after purchasing an additional 1,642,907 shares during the last quarter. Hedge funds and other institutional investors own 65.71% of the company's stock.

Walt Disney Stock Performance

Walt Disney stock opened at $111.64 on Friday. The firm has a market capitalization of $200.72 billion, a P/E ratio of 17.50, a PEG ratio of 1.48 and a beta of 1.54. The stock has a fifty day moving average price of $114.64 and a 200 day moving average price of $111.64. The Walt Disney Company has a 52 week low of $80.10 and a 52 week high of $124.69. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32.

Walt Disney (NYSE:DIS - Get Free Report) last released its earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $23.69 billion. During the same period in the prior year, the firm posted $1.39 earnings per share. The business's quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that The Walt Disney Company will post 5.47 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on DIS. Guggenheim lifted their target price on Walt Disney from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Needham & Company LLC restated a "buy" rating and issued a $125.00 price target on shares of Walt Disney in a research note on Tuesday, September 23rd. 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. Raymond James Financial restated a "neutral" rating on shares of Walt Disney in a research note on Monday, August 11th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Walt Disney in a research note on Friday. Nineteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Walt Disney has an average rating of "Moderate Buy" and a consensus price target of $132.90.

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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