Spirit of America Management Corp NY Sells 6,400 Shares of The Walt Disney Company (NYSE:DIS)

Spirit of America Management Corp NY reduced its holdings in The Walt Disney Company (NYSE:DIS - Free Report) by 30.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,500 shares of the entertainment giant's stock after selling 6,400 shares during the quarter. Spirit of America Management Corp NY's holdings in Walt Disney were worth $1,431,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DIS. Brighton Jones LLC increased its holdings in Walt Disney by 7.7% in the fourth quarter. Brighton Jones LLC now owns 26,767 shares of the entertainment giant's stock worth $2,980,000 after purchasing an additional 1,904 shares in the last quarter. Convergence Investment Partners LLC increased its holdings in Walt Disney by 12.7% in the fourth quarter. Convergence Investment Partners LLC now owns 3,080 shares of the entertainment giant's stock worth $343,000 after purchasing an additional 346 shares in the last quarter. Jessup Wealth Management Inc bought a new stake in Walt Disney in the fourth quarter worth approximately $316,000. Private Wealth Partners LLC increased its holdings in Walt Disney by 4.0% in the fourth quarter. Private Wealth Partners LLC now owns 104,316 shares of the entertainment giant's stock worth $11,616,000 after purchasing an additional 4,057 shares in the last quarter. Finally, Corps Capital Advisors LLC bought a new stake in Walt Disney in the fourth quarter worth approximately $295,000. 65.71% of the stock is currently owned by institutional investors.

Walt Disney Stock Down 0.3%

Shares of NYSE:DIS opened at $117.72 on Friday. The stock has a market cap of $211.64 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 1.73 and a beta of 1.54. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.34. The Walt Disney Company has a 12-month low of $80.10 and a 12-month high of $120.50. The business's 50 day moving average is $104.04 and its 200 day moving average is $105.87.

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DIS. Rosenblatt Securities boosted their price objective on Walt Disney from $135.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. UBS Group boosted their price objective on Walt Disney from $105.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Loop Capital boosted their price objective on Walt Disney from $125.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Needham & Company LLC restated a "buy" rating and set a $125.00 price objective on shares of Walt Disney in a report on Thursday, May 8th. Finally, Wolfe Research upgraded Walt Disney from a "peer perform" rating to an "outperform" rating and set a $112.00 price objective for the company in a report on Monday, April 21st. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $123.96.

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.

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