Patten & Patten Inc. TN Sells 4,454 Shares of The Walt Disney Company $DIS

Key Points

• Patten & Patten Inc. TN has reduced its holdings in The Walt Disney Company by 30%, selling 4,454 shares and now owning 10,384 shares worth approximately $1.29 million.
• Several large investors have also adjusted their positions in Disney, including Uptick Partners LLC and Rheos Capital Works Inc., which increased their stakes during the second quarter.
• Walt Disney reported a Q3 earnings per share of $1.61, exceeding estimates, with a revenue of $23.65 billion, indicating a 2.1% growth from the previous year.

Patten & Patten Inc. TN trimmed its holdings in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 30.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,384 shares of the entertainment giant's stock after selling 4,454 shares during the quarter. Patten & Patten Inc. TN's holdings in Walt Disney were worth $1,288,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Uptick Partners LLC bought a new stake in Walt Disney during the 2nd quarter worth approximately $271,000. Rheos Capital Works Inc. boosted its position in Walt Disney by 26.6% during the 2nd quarter. Rheos Capital Works Inc. now owns 500,400 shares of the entertainment giant's stock worth $62,055,000 after acquiring an additional 105,000 shares during the last quarter. IFG Advisors LLC boosted its position in Walt Disney by 4.4% during the 2nd quarter. IFG Advisors LLC now owns 4,948 shares of the entertainment giant's stock worth $614,000 after acquiring an additional 210 shares during the last quarter. Generali Asset Management SPA SGR boosted its position in Walt Disney by 1.8% during the 2nd quarter. Generali Asset Management SPA SGR now owns 168,436 shares of the entertainment giant's stock worth $20,888,000 after acquiring an additional 2,933 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its position in Walt Disney by 9.0% during the 2nd quarter. Ritholtz Wealth Management now owns 26,131 shares of the entertainment giant's stock worth $3,240,000 after acquiring an additional 2,167 shares during the last quarter. 65.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DIS. Barclays upped their price target on Walt Disney from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Chardan Capital reaffirmed a "buy" rating on shares of Walt Disney in a research report on Monday, August 11th. Jefferies Financial Group downgraded Walt Disney from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. JPMorgan Chase & Co. upped 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. Finally, Susquehanna reaffirmed a "neutral" rating on shares of Walt Disney in a research 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $132.90.

Walt Disney Trading Down 1.7%

NYSE DIS opened at $109.82 on Friday. The company has a market cap of $197.45 billion, a PE ratio of 17.21, a PEG ratio of 1.47 and a beta of 1.54. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. The Walt Disney Company has a 12 month low of $80.10 and a 12 month high of $124.69. The stock has a 50 day moving average of $114.89 and a 200-day moving average of $110.66.

Walt Disney (NYSE:DIS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The entertainment giant reported $1.61 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 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 firm's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 EPS. On average, equities research analysts anticipate 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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