Procyon Advisors LLC Sells 68,508 Shares of The Walt Disney Company $DIS

Key Points

• Procyon Advisors LLC reduced its stake in The Walt Disney Company by 88.6%, selling 68,508 shares and retaining only 8,777 shares, worth approximately $1.1 million as of the latest filing.
• A number of institutional investors, including Brighton Jones LLC and Two Sigma Investments LP, increased their positions in Walt Disney during the fourth quarter, indicating ongoing interest in the stock despite broader sell-offs.
• An earnings report showed Walt Disney surpassed analysts' expectations with $1.61 earnings per share for the quarter, while revenue totaled $23.65 billion, showcasing a 2.1% year-over-year increase.

Procyon Advisors LLC decreased its position in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 88.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,777 shares of the entertainment giant's stock after selling 68,508 shares during the quarter. Procyon Advisors LLC's holdings in Walt Disney were worth $1,088,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Mpwm Advisory Solutions LLC purchased a new position in shares of Walt Disney during the 4th quarter valued at $27,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Walt Disney in the 1st quarter worth approximately $26,000. Kessler Investment Group LLC increased its position in Walt Disney by 274.0% during the 1st quarter. Kessler Investment Group LLC now owns 273 shares of the entertainment giant's stock valued at $27,000 after buying an additional 200 shares in the last quarter. Copia Wealth Management bought a new stake in shares of Walt Disney in the 4th quarter worth $36,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Walt Disney in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 65.71% of the company's stock.

Walt Disney Stock Down 1.0%

Shares of Walt Disney stock traded down $1.15 on Friday, hitting $113.71. The company had a trading volume of 23,387,671 shares, compared to its average volume of 6,289,260. The stock has a 50-day moving average of $117.71 and a 200-day moving average of $109.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.72 and a quick ratio of 0.66. The firm has a market capitalization of $204.44 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.65 and a beta of 1.55. The Walt Disney Company has a twelve month low of $80.10 and a twelve month high of $124.69.

Walt Disney (NYSE:DIS - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $23.69 billion. During the same period in the prior year, the firm earned $1.39 earnings per share. The company's revenue was up 2.1% on a year-over-year basis. Research analysts predict that The Walt Disney Company will post 5.47 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods reissued a "market perform" rating on shares of Walt Disney in a research note on Monday, August 11th. Chardan Capital reiterated a "buy" rating on shares of Walt Disney in a report on Monday, August 11th. Morgan Stanley lifted 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. Loop Capital boosted their price target on shares of Walt Disney from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, UBS Group raised their price objective on shares of Walt Disney from $120.00 to $138.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $131.18.

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.