The Walt Disney Company (NYSE:DIS) Stake Lessened by Lazard Freres Gestion S.A.S.

Key Points

• Lazard Freres Gestion S.A.S. has reduced its position in The Walt Disney Company by 1.7%, now owning 592,185 shares valued at approximately $58.4 million.
• Recent insider trading saw Brent Woodford, EVP, sell 1,000 shares of Disney at $110.84, reducing his ownership by 2.09%.
• The company's latest quarterly earnings showed a profit of $1.45 per share, surpassing expectations, with revenues totaling $23.62 billion, a 7% increase year-over-year.

Lazard Freres Gestion S.A.S. reduced its holdings in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 592,185 shares of the entertainment giant's stock after selling 10,257 shares during the period. Walt Disney makes up 1.4% of Lazard Freres Gestion S.A.S.'s holdings, making the stock its 23rd largest position. Lazard Freres Gestion S.A.S.'s holdings in Walt Disney were worth $58,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DIS. Planning Directions Inc. acquired a new position in shares of Walt Disney in the 1st quarter valued at $326,000. Trek Financial LLC raised its holdings in shares of Walt Disney by 479.9% during the fourth quarter. Trek Financial LLC now owns 36,320 shares of the entertainment giant's stock worth $4,044,000 after purchasing an additional 30,057 shares during the last quarter. WoodTrust Financial Corp grew its holdings in Walt Disney by 6.7% during the first quarter. WoodTrust Financial Corp now owns 96,158 shares of the entertainment giant's stock worth $9,491,000 after acquiring an additional 6,047 shares during the period. Bank of Stockton lifted its stake in shares of Walt Disney by 4.4% in the 1st quarter. Bank of Stockton now owns 9,091 shares of the entertainment giant's stock valued at $897,000 after purchasing an additional 383 shares during the period. Finally, Rheos Capital Works Inc. increased its stake in shares of Walt Disney by 164.7% in the 1st quarter. Rheos Capital Works Inc. now owns 395,400 shares of the entertainment giant's stock valued at $39,026,000 after purchasing an additional 246,000 shares in the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Walt Disney Stock Performance

Shares of NYSE DIS traded down $0.44 during trading on Tuesday, reaching $119.93. The stock had a trading volume of 6,212,437 shares, compared to its average volume of 6,719,698. The firm's 50 day moving average price is $118.13 and its two-hundred day moving average price is $107.42. The Walt Disney Company has a one year low of $80.10 and a one year high of $124.69. The stock has a market cap of $215.60 billion, a PE ratio of 20.97, a P/E/G ratio of 1.76 and a beta of 1.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.61 and a current ratio of 0.67.

Walt Disney (NYSE:DIS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.24. Walt Disney had a net margin of 9.47% and a return on equity of 9.99%. The company had revenue of $23.62 billion for the quarter, compared to the consensus estimate of $23.15 billion. During the same period last year, the firm posted $1.21 EPS. The company's revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts forecast that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DIS has been the subject of a number of research analyst reports. Rosenblatt Securities upped their price objective on shares of Walt Disney from $135.00 to $140.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Needham & Company LLC restated a "buy" rating and set a $125.00 target price on shares of Walt Disney in a report on Thursday, May 8th. Citigroup lifted their price target on Walt Disney from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Jefferies Financial Group raised shares of Walt Disney from a "hold" rating to a "buy" rating and lifted their price target for the company from $100.00 to $144.00 in a research report on Monday, June 30th. Finally, Morgan Stanley raised their price objective on Walt Disney from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Walt Disney has an average rating of "Moderate Buy" and an average target price of $128.70.

Insider Buying and Selling

In related news, EVP Brent Woodford sold 1,000 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $110.84, for a total value of $110,840.00. Following the sale, the executive vice president owned 46,831 shares of the company's stock, valued at $5,190,748.04. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.

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.