The Walt Disney Company $DIS Position Lessened by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC has reduced its holdings in The Walt Disney Company by 38.5% during the second quarter, representing a sell-off of 28,206 shares.
• Several hedge funds have recently increased their stakes, with Kingstone Capital Partners acquiring a stake valued at approximately $4.22 billion, while Diamond Hill Capital Management boosted its position by 1,080.7%.
• Walt Disney reported earnings of $1.61 per share for the recent quarter, exceeding estimates and indicating a 2.1% year-over-year revenue growth.

Park Avenue Securities LLC trimmed its holdings in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 38.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,093 shares of the entertainment giant's stock after selling 28,206 shares during the quarter. Park Avenue Securities LLC's holdings in Walt Disney were worth $5,590,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DIS. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Walt Disney in the second quarter valued at about $4,220,599,000. Nuveen LLC acquired a new stake in shares of Walt Disney in the first quarter valued at about $1,353,607,000. Diamond Hill Capital Management Inc. grew its position in shares of Walt Disney by 1,080.7% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,816,548 shares of the entertainment giant's stock valued at $277,993,000 after purchasing an additional 2,578,004 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Walt Disney by 1.6% in the first quarter. Vanguard Group Inc. now owns 155,862,361 shares of the entertainment giant's stock valued at $15,383,615,000 after purchasing an additional 2,446,087 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Walt Disney by 10,567.3% in the first quarter. GAMMA Investing LLC now owns 2,450,702 shares of the entertainment giant's stock valued at $241,884,000 after purchasing an additional 2,427,728 shares during the last quarter. 65.71% of the stock is owned by institutional investors and hedge funds.

Walt Disney Stock Performance

NYSE:DIS opened at $112.44 on Tuesday. The Walt Disney Company has a 1 year low of $80.10 and a 1 year high of $124.69. The firm has a 50 day moving average of $117.56 and a 200-day moving average of $109.22. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $202.16 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.65 and a beta of 1.55.

Walt Disney (NYSE:DIS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The entertainment giant reported $1.61 earnings per share for the quarter, topping 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 firm had revenue of $23.65 billion during the quarter, compared to analysts' expectations of $23.69 billion. During the same quarter in the previous year, the company posted $1.39 EPS. Walt Disney's 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 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DIS. JPMorgan Chase & Co. raised their price target on Walt Disney from $130.00 to $138.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Raymond James Financial reissued a "neutral" rating on shares of Walt Disney in a research report on Monday, August 11th. Loop Capital lifted their target price on Walt Disney from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Needham & Company LLC reissued a "buy" rating and set a $125.00 target price on shares of Walt Disney in a research report on Thursday, September 4th. Finally, Evercore ISI lifted their target price on Walt Disney from $134.00 to $140.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $131.18.

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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