Sheets Smith Wealth Management Sells 7,989 Shares of The Walt Disney Company (NYSE:DIS)

Sheets Smith Wealth Management lowered its stake in The Walt Disney Company (NYSE:DIS - Free Report) by 67.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,855 shares of the entertainment giant's stock after selling 7,989 shares during the quarter. Sheets Smith Wealth Management's holdings in Walt Disney were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of DIS. Norges Bank acquired a new stake in shares of Walt Disney during the fourth quarter valued at approximately $2,415,427,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Walt Disney by 1,900.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,735,961 shares of the entertainment giant's stock worth $638,699,000 after purchasing an additional 5,449,158 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Walt Disney by 75.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 10,858,108 shares of the entertainment giant's stock valued at $1,209,050,000 after purchasing an additional 4,680,930 shares during the period. Raymond James Financial Inc. acquired a new stake in Walt Disney during the 4th quarter valued at $358,151,000. Finally, Boston Partners purchased a new stake in shares of Walt Disney in the fourth quarter valued at $350,707,000. Institutional investors and hedge funds own 65.71% of the company's stock.

Insider Transactions at Walt Disney

In other news, EVP Brent Woodford sold 1,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $110.84, for a total transaction of $110,840.00. Following the sale, the executive vice president now owns 46,831 shares in the company, valued at approximately $5,190,748.04. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DIS shares. Barclays lifted their price target on Walt Disney from $115.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and set a $125.00 price objective on shares of Walt Disney in a research report on Thursday, May 8th. UBS Group lifted their target price on Walt Disney from $105.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Loop Capital increased their price target on shares of Walt Disney from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Finally, Morgan Stanley raised their price target on shares of Walt Disney from $110.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Six research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $123.96.

Walt Disney Price Performance

Shares of DIS traded up $0.88 during mid-day trading on Wednesday, reaching $119.53. The company had a trading volume of 6,971,073 shares, compared to its average volume of 10,097,289. The company has a market capitalization of $214.89 billion, a P/E ratio of 24.44, a P/E/G ratio of 1.73 and a beta of 1.54. The company's 50-day moving average is $106.03 and its 200-day moving average is $105.83. The Walt Disney Company has a twelve month low of $80.10 and a twelve month high of $120.50. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.67 and a quick ratio of 0.61.

Walt Disney (NYSE:DIS - Get Free Report) last announced its earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.24. The business had revenue of $23.62 billion during the quarter, compared to analysts' expectations of $23.15 billion. Walt Disney had a net margin of 9.47% and a return on equity of 9.99%. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $1.21 EPS. On average, equities analysts anticipate that The Walt Disney Company will post 5.47 EPS for the current 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.