Mutual of America Capital Management LLC Sells 6,716 Shares of The Walt Disney Company (NYSE:DIS)

Key Points

• Mutual of America Capital Management LLC reduced its stake in The Walt Disney Company by 3.1%, resulting in ownership of 210,196 shares valued at approximately $20.75 million.
• Several other hedge funds increased their positions, with Northern Trust Corp raising its holdings by 10.4% to own over 22 million shares worth nearly $2.5 billion.
• Walt Disney reported earnings of $1.61 per share, beating the consensus estimate and indicating a year-over-year revenue growth of 2.1% despite revenues slightly falling short of expectations.

Mutual of America Capital Management LLC cut its stake in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,196 shares of the entertainment giant's stock after selling 6,716 shares during the period. Mutual of America Capital Management LLC's holdings in Walt Disney were worth $20,746,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Planning Directions Inc. bought a new position in Walt Disney during the 1st quarter valued at $326,000. WoodTrust Financial Corp lifted its stake in Walt Disney by 6.7% during the 1st quarter. WoodTrust Financial Corp now owns 96,158 shares of the entertainment giant's stock valued at $9,491,000 after acquiring an additional 6,047 shares in the last quarter. Bank of Stockton lifted its stake in Walt Disney by 4.4% during the 1st quarter. Bank of Stockton now owns 9,091 shares of the entertainment giant's stock valued at $897,000 after acquiring an additional 383 shares in the last quarter. Rheos Capital Works Inc. lifted its stake in Walt Disney by 164.7% during the 1st quarter. Rheos Capital Works Inc. now owns 395,400 shares of the entertainment giant's stock valued at $39,026,000 after acquiring an additional 246,000 shares in the last quarter. Finally, Merit Financial Group LLC lifted its stake in Walt Disney by 47.0% during the 1st quarter. Merit Financial Group LLC now owns 57,172 shares of the entertainment giant's stock valued at $5,643,000 after acquiring an additional 18,272 shares in the last quarter. 65.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DIS. Citigroup increased their price target on shares of Walt Disney from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. UBS Group lifted their price objective on Walt Disney from $120.00 to $138.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. lifted their target price on Walt Disney from $130.00 to $138.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Loop Capital boosted their price objective on Walt Disney from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Jefferies Financial Group raised Walt Disney from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $100.00 to $144.00 in a report on Monday, June 30th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $129.83.

Insiders Place Their Bets

In related news, EVP Brent Woodford sold 1,000 shares of the company'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 sale, the executive vice president directly owned 46,831 shares of the company's stock, valued at $5,190,748.04. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by insiders.

Walt Disney Trading Down 0.4%

DIS stock traded down $0.48 during midday trading on Friday, hitting $112.40. The company had a trading volume of 9,487,697 shares, compared to its average volume of 9,890,639. The company has a current ratio of 0.72, a quick ratio of 0.61 and a debt-to-equity ratio of 0.32. The stock has a market cap of $202.07 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.68 and a beta of 1.56. The stock's 50 day moving average price is $119.18 and its 200 day moving average price is $107.98. The Walt Disney Company has a 52 week low of $80.10 and a 52 week high of $124.69.

Walt Disney (NYSE:DIS - Get Free Report) last announced its 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 the consensus estimate 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 for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. As a group, equities research analysts expect that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

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.