Parsons Capital Management Inc. RI Decreases Stock Holdings in The Walt Disney Company $DIS

Key Points

• Parsons Capital Management Inc. RI reduced its stake in The Walt Disney Company by 46.3% during Q2, now holding 19,243 shares valued at approximately $2.4 million.
• Other institutional investors have increased their holdings, with J. Safra Sarasin Holding AG and Kingstone Capital Partners investing more, while 65.71% of the stock is currently owned by institutional investors.
• The company's latest quarterly earnings reported $1.61 EPS, exceeding estimates, alongside a revenue of $23.65 billion, marking a year-over-year increase of 2.1%.

Parsons Capital Management Inc. RI trimmed its holdings in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 46.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,243 shares of the entertainment giant's stock after selling 16,600 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Walt Disney were worth $2,386,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. J. Safra Sarasin Holding AG grew its holdings in Walt Disney by 8.1% during the first quarter. J. Safra Sarasin Holding AG now owns 222,747 shares of the entertainment giant's stock valued at $21,983,000 after purchasing an additional 16,781 shares during the period. Planning Directions Inc. bought a new position in Walt Disney during the first quarter valued at $326,000. Kingstone Capital Partners Texas LLC bought a new position in Walt Disney during the second quarter valued at $4,220,599,000. Wedge Capital Management L L P NC grew its holdings in Walt Disney by 8,744.0% during the second quarter. Wedge Capital Management L L P NC now owns 320,329 shares of the entertainment giant's stock valued at $39,724,000 after purchasing an additional 316,707 shares during the period. Finally, WoodTrust Financial Corp grew its holdings in Walt Disney by 6.7% during the first quarter. WoodTrust Financial Corp now owns 96,158 shares of the entertainment giant's stock valued at $9,491,000 after purchasing an additional 6,047 shares during the period. 65.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DIS has been the subject of several research reports. Stephens reissued a "buy" rating on shares of Walt Disney in a report on Monday, August 11th. Citigroup raised their price target on Walt Disney from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating on shares of Walt Disney in a report on Monday, August 11th. Jefferies Financial Group lowered Walt Disney from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. Finally, Evercore ISI raised their price target on Walt Disney from $134.00 to $140.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Nineteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.18.

Walt Disney Price Performance

NYSE:DIS opened at $112.14 on Friday. The firm has a market capitalization of $201.62 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.48 and a beta of 1.54. The Walt Disney Company has a 52-week low of $80.10 and a 52-week high of $124.69. The stock has a fifty day moving average of $116.30 and a 200 day moving average of $109.86. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.72.

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

Walt Disney 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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