Procyon Advisors LLC Cuts Position in 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 trimmed its position in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 88.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

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

Walt Disney Price Performance

Walt Disney stock traded down $1.15 during midday trading on Friday, reaching $113.71. 23,387,671 shares of the stock traded hands, compared to its average volume of 6,289,260. The stock's fifty day moving average is $117.71 and its 200-day moving average is $109.15. The Walt Disney Company has a 12 month low of $80.10 and a 12 month high of $124.69. The stock has a market cap of $204.44 billion, a P/E ratio of 17.82, a PEG ratio of 1.66 and a beta of 1.55. 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 announced its quarterly earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.16. The company had revenue of $23.65 billion during the quarter, compared to analyst estimates of $23.69 billion. Walt Disney had a return on equity of 9.67% and a net margin of 12.22%.The firm's revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.39 earnings per share. As a group, equities research analysts anticipate that The Walt Disney Company will post 5.47 EPS for the current year.

Analysts Set New Price Targets

DIS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Walt Disney from $130.00 to $138.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Susquehanna restated a "neutral" rating on shares of Walt Disney in a research report on Monday, August 11th. Needham & Company LLC restated a "buy" rating and set a $125.00 price target on shares of Walt Disney in a research report on Thursday, September 4th. Morgan Stanley lifted their price target on Walt Disney from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating on shares of Walt Disney in a 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 issued a Hold rating to the company's stock. According to MarketBeat.com, 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.