Sterneck Capital Management LLC Decreases Holdings in The Walt Disney Company $DIS

Key Points

• Sterneck Capital Management LLC reduced its stake in The Walt Disney Company by 13.6%, owning 23,525 shares after selling 3,694 shares in the second quarter.
• The company reported earnings of $1.61 per share, exceeding analyst estimates of $1.45, despite a slight revenue shortfall of $23.65 billion for the quarter.
• Research analysts maintain a generally positive outlook for Walt Disney, with a consensus rating of "Moderate Buy" and an average target price of $131.18.

Sterneck Capital Management LLC trimmed its holdings in The Walt Disney Company (NYSE:DIS - Free Report) by 13.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,525 shares of the entertainment giant's stock after selling 3,694 shares during the quarter. Walt Disney comprises approximately 1.5% of Sterneck Capital Management LLC's portfolio, making the stock its 22nd biggest position. Sterneck Capital Management LLC's holdings in Walt Disney were worth $2,917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Walt Disney in the first quarter valued at approximately $26,000. Kessler Investment Group LLC increased its stake in shares of Walt Disney by 274.0% during the first quarter. Kessler Investment Group LLC now owns 273 shares of the entertainment giant's stock worth $27,000 after acquiring an additional 200 shares during the period. First PREMIER Bank increased its position in Walt Disney by 72.2% during the 1st quarter. First PREMIER Bank now owns 489 shares of the entertainment giant's stock worth $48,000 after purchasing an additional 205 shares during the period. Capitol Family Office Inc. purchased a new position in Walt Disney in the first quarter worth $52,000. Finally, Core Alternative Capital lifted its stake in shares of Walt Disney by 71.0% in the first quarter. Core Alternative Capital now owns 542 shares of the entertainment giant's stock valued at $53,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 65.71% of the company's stock.

Walt Disney Stock Up 0.4%

DIS opened at $113.46 on Friday. The firm has a market cap of $203.99 billion, a P/E ratio of 17.78, a PEG ratio of 1.64 and a beta of 1.55. The business's fifty day simple moving average is $116.96 and its 200 day simple moving average is $109.52. The Walt Disney Company has a 52 week low of $80.10 and a 52 week high of $124.69. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.32.

Walt Disney (NYSE:DIS - Get Free Report) last released its earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $23.69 billion. During the same period in the prior year, the firm earned $1.39 EPS. The firm's quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that The Walt Disney Company will post 5.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Walt Disney from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Raymond James Financial reaffirmed a "neutral" rating on shares of Walt Disney in a research note on Monday, August 11th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating on shares of Walt Disney in a report on Monday, August 11th. Loop Capital upped their target price on Walt Disney from $125.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Jefferies Financial Group cut Walt Disney from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $131.18.

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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