Prudential PLC Cuts Holdings in The Walt Disney Company (NYSE:DIS)

Key Points

• Prudential PLC has reduced its stake in The Walt Disney Company by 47.6%, selling 65,198 shares and now holding 71,634 shares valued at approximately $7 million.
• Several hedge funds have altered their positions in Disney, with notable increases including Rheos Capital Works Inc. growing its holdings by 164.7%, now owning 395,400 shares valued at about $39 million.
• Walt Disney reported an EPS of $1.61 for the last quarter, surpassing expectations, with projected earnings for the current year estimated at $5.47 per share.

Prudential PLC lessened its stake in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 47.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 71,634 shares of the entertainment giant's stock after selling 65,198 shares during the quarter. Prudential PLC's holdings in Walt Disney were worth $7,070,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Acorns Advisers LLC raised its holdings in Walt Disney by 2.6% in the 4th quarter. Acorns Advisers LLC now owns 3,826 shares of the entertainment giant's stock valued at $426,000 after acquiring an additional 98 shares in the last quarter. Clearstead Trust LLC raised its holdings in Walt Disney by 0.6% in the 1st 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 in the last quarter. Hemington Wealth Management raised its stake in Walt Disney by 1.9% in the first quarter. Hemington Wealth Management now owns 5,628 shares of the entertainment giant's stock valued at $555,000 after purchasing an additional 105 shares in the last quarter. Allegheny Financial Group raised its stake in Walt Disney by 2.3% in the fourth quarter. Allegheny Financial Group now owns 4,624 shares of the entertainment giant's stock valued at $515,000 after purchasing an additional 106 shares in the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in Walt Disney by 0.4% in the first quarter. Resonant Capital Advisors LLC now owns 26,119 shares of the entertainment giant's stock valued at $2,578,000 after purchasing an additional 113 shares in the last quarter. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DIS shares. Chardan Capital restated a "buy" rating on shares of Walt Disney in a research report on Monday. Citigroup boosted their price objective on shares of Walt Disney from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. UBS Group boosted their price objective on shares of Walt Disney from $120.00 to $138.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Stephens reissued a "buy" rating on shares of Walt Disney in a report on Monday. Finally, Rosenblatt Securities boosted their price target on Walt Disney from $140.00 to $141.00 and gave the stock a "buy" rating in a report on Monday. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $131.18.

Walt Disney Stock Down 0.8%

Walt Disney stock traded down $0.95 during mid-day trading on Friday, reaching $115.36. The stock had a trading volume of 6,766,517 shares, compared to its average volume of 9,818,221. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.72. The Walt Disney Company has a fifty-two week low of $80.10 and a fifty-two week high of $124.69. The stock's 50-day simple moving average is $119.30 and its 200-day simple moving average is $108.11. The firm has a market capitalization of $207.41 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.69 and a beta of 1.56.

Walt Disney (NYSE:DIS - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $23.65 billion during the quarter, compared to the consensus estimate of $23.69 billion. Walt Disney had a net margin of 12.22% and a return on equity of 9.67%. Walt Disney's revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.39 EPS. On average, sell-side analysts forecast that The Walt Disney Company will post 5.47 EPS for the current fiscal 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.