Oak Asset Management LLC Sells 8,757 Shares of The Walt Disney Company $DIS

Key Points

• Oak Asset Management LLC reduced its stake in The Walt Disney Company by 53.2% during the second quarter, now holding 7,712 shares worth approximately $956,000.
• Analysts have recently increased their price targets for Disney, with JPMorgan Chase & Co. raising it from $130.00 to $138.00 and maintaining an "overweight" rating.
• Disney's most recent earnings report showed $1.61 EPS, exceeding analyst estimates, and a revenue of $23.65 billion, slightly below forecasts of $23.69 billion.

Oak Asset Management LLC cut its position in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 53.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,712 shares of the entertainment giant's stock after selling 8,757 shares during the period. Oak Asset Management LLC's holdings in Walt Disney were worth $956,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bruce G. Allen Investments LLC raised its position in shares of Walt Disney by 9.1% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,123 shares of the entertainment giant's stock worth $139,000 after acquiring an additional 94 shares in the last quarter. Clearstead Trust LLC raised its position in shares of Walt Disney by 0.6% in the 1st quarter. Clearstead Trust LLC now owns 16,509 shares of the entertainment giant's stock worth $1,629,000 after acquiring an additional 99 shares in the last quarter. Aspen Investment Management Inc raised its position in shares of Walt Disney by 3.5% in the 1st quarter. Aspen Investment Management Inc now owns 2,938 shares of the entertainment giant's stock worth $290,000 after acquiring an additional 100 shares in the last quarter. Hemington Wealth Management raised its position in shares of Walt Disney by 1.9% in the 1st quarter. Hemington Wealth Management now owns 5,628 shares of the entertainment giant's stock worth $555,000 after acquiring an additional 105 shares in the last quarter. Finally, Leigh Baldwin & CO. LLC raised its position in shares of Walt Disney by 2.2% in the 1st quarter. Leigh Baldwin & CO. LLC now owns 4,994 shares of the entertainment giant's stock worth $493,000 after acquiring an additional 108 shares in the last quarter. 65.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DIS has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Walt Disney from $130.00 to $138.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods reissued a "market perform" rating on shares of Walt Disney in a research report on Monday, August 11th. Raymond James Financial restated a "neutral" rating on shares of Walt Disney in a research note on Monday, August 11th. Chardan Capital restated a "buy" rating on shares of Walt Disney in a research note on Monday, August 11th. Finally, Needham & Company LLC restated a "buy" rating and set a $125.00 target price on shares of Walt Disney in a research note on Thursday, September 4th. One research 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $131.18.

Walt Disney Stock Down 1.0%

Shares of DIS opened at $113.71 on Friday. The Walt Disney Company has a 52 week low of $80.10 and a 52 week high of $124.69. 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 company has a market capitalization of $204.44 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 1.65 and a beta of 1.55. The stock's 50-day moving average price is $117.71 and its 200-day moving average price is $109.15.

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