Tocqueville Asset Management L.P. Reduces Position in The Walt Disney Company $DIS

Key Points

• Tocqueville Asset Management L.P. sold 88,500 shares of The Walt Disney Company, reducing its holdings by 20.5%, leaving it with 343,163 shares valued at approximately $33.87 million.
• During the same quarter, several other investors, including Brandywine Global Investment Management LLC, significantly increased their stakes in Walt Disney, showing overall institutional ownership at 65.71%.
• The company's latest quarterly earnings surpassed analysts' expectations, reporting an EPS of $1.61 against an estimate of $1.45, while revenues reached $23.65 billion, slightly below the forecast.

Tocqueville Asset Management L.P. trimmed its holdings in The Walt Disney Company (NYSE:DIS - Free Report) by 20.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 343,163 shares of the entertainment giant's stock after selling 88,500 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Walt Disney were worth $33,870,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its position in shares of Walt Disney by 7.7% in the fourth quarter. Brighton Jones LLC now owns 26,767 shares of the entertainment giant's stock valued at $2,980,000 after buying an additional 1,904 shares during the last quarter. Jump Financial LLC acquired a new stake in Walt Disney in the fourth quarter worth about $1,162,000. NewEdge Advisors LLC grew its holdings in Walt Disney by 24.1% during the fourth quarter. NewEdge Advisors LLC now owns 125,760 shares of the entertainment giant's stock worth $14,003,000 after acquiring an additional 24,445 shares during the period. Capital International Sarl boosted its position in shares of Walt Disney by 37.0% in the 4th quarter. Capital International Sarl now owns 6,993 shares of the entertainment giant's stock valued at $779,000 after purchasing an additional 1,887 shares during the period. Finally, GeoWealth Management LLC increased its holdings in shares of Walt Disney by 56.2% in the 4th quarter. GeoWealth Management LLC now owns 11,254 shares of the entertainment giant's stock valued at $1,253,000 after purchasing an additional 4,047 shares during the period. 65.71% of the stock is owned by institutional investors and hedge funds.

Walt Disney Stock Down 0.3%

Shares of NYSE DIS traded down $0.3470 during midday trading on Tuesday, hitting $116.2030. 4,800,624 shares of the stock traded hands, compared to its average volume of 9,753,308. The company has a market cap of $208.92 billion, a PE ratio of 18.21, a P/E/G ratio of 1.67 and a beta of 1.56. The Walt Disney Company has a one year low of $80.10 and a one year high of $124.69. The business has a 50 day moving average price of $119.35 and a two-hundred day moving average price of $108.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.72.

Walt Disney (NYSE:DIS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.16. The business had revenue of $23.65 billion for 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%.Walt Disney's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.39 earnings per share. On average, equities analysts predict that The Walt Disney Company will post 5.47 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on DIS. Evercore ISI increased their price objective on Walt Disney from $134.00 to $140.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Susquehanna reiterated a "neutral" rating on shares of Walt Disney in a report on Monday, August 11th. Guggenheim lifted their target price on Walt Disney from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Morgan Stanley lifted their price objective on Walt Disney from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Rosenblatt Securities upped their target price on Walt Disney from $140.00 to $141.00 and gave the stock a "buy" rating in a report on Monday, August 11th. 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's stock. Based on data from MarketBeat, Walt Disney currently has an average rating of "Moderate Buy" and an average target price 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.