Punch & Associates Investment Management Inc. Reduces Stock Position in The Walt Disney Company $DIS

Key Points

• Punch & Associates Investment Management Inc. reduced its stake in The Walt Disney Company by 13.6%, owning $10.9 million worth of shares after selling 17,403 during the quarter.
• Walt Disney's latest quarterly earnings report revealed an EPS of $1.61, exceeding analyst expectations of $1.45, but revenue fell short of forecasts at $23.65 billion.
• Analysts are generally optimistic about Disney's stock, with a consensus rating of "Moderate Buy" and a target price of $131.18, following multiple price target increases by firms like Guggenheim and Barclays.

Punch & Associates Investment Management Inc. cut its position in The Walt Disney Company (NYSE:DIS - Free Report) by 13.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,576 shares of the entertainment giant's stock after selling 17,403 shares during the period. Punch & Associates Investment Management Inc.'s holdings in Walt Disney were worth $10,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Permanens Capital L.P. increased its stake in shares of Walt Disney by 25.1% in the first quarter. Permanens Capital L.P. now owns 45,149 shares of the entertainment giant's stock worth $4,456,000 after purchasing an additional 9,046 shares in the last quarter. Plancorp LLC increased its stake in shares of Walt Disney by 24.3% in the first quarter. Plancorp LLC now owns 8,148 shares of the entertainment giant's stock worth $804,000 after purchasing an additional 1,595 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in shares of Walt Disney by 42.8% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 761,467 shares of the entertainment giant's stock worth $75,157,000 after purchasing an additional 228,139 shares in the last quarter. Nearwater Capital Markets Ltd purchased a new stake in shares of Walt Disney in the first quarter worth $56,259,000. Finally, NewEdge Advisors LLC increased its stake in shares of Walt Disney by 9.7% in the first quarter. NewEdge Advisors LLC now owns 137,903 shares of the entertainment giant's stock worth $13,611,000 after purchasing an additional 12,143 shares in the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on DIS shares. Wall Street Zen cut shares of Walt Disney from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 20th. Jefferies Financial Group cut shares of Walt Disney from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. Citigroup increased their price objective on shares of Walt Disney from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Evercore ISI increased their price objective on shares of Walt Disney from $134.00 to $140.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Finally, Loop Capital raised their target price on shares of Walt Disney from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $131.18.

Walt Disney Price Performance

DIS traded down $0.88 during trading on Friday, hitting $117.93. 6,668,217 shares of the company traded hands, compared to its average volume of 6,153,728. The company has a market cap of $212.03 billion, a PE ratio of 18.48, a P/E/G ratio of 1.71 and a beta of 1.55. The stock's 50-day simple moving average is $119.01 and its two-hundred day simple moving average is $108.77. The Walt Disney Company has a 1 year low of $80.10 and a 1 year 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 posted its earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.16. Walt Disney had a net margin of 12.22% and a return on equity of 9.67%. The company had revenue of $23.65 billion during the quarter, compared to analysts' expectations of $23.69 billion. During the same period last year, the company posted $1.39 earnings per share. Walt Disney's quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

Walt Disney Company 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.