Wellington Management Group LLP Lowers Stake in The Walt Disney Company $DIS

Key Points

• Wellington Management Group LLP sold 302,249 shares of The Walt Disney Company, reducing its stake by 3.5%, which leaves it holding approximately 8.36 million shares valued at $825.4 million.
• Walt Disney's stock opened at $116.56 and has a market capitalization of $209.57 billion, with a 12-month low of $80.10 and a high of $124.69.
• The company reported earnings of $1.61 per share, exceeding analysts' estimates, and expects to post a 5.47 EPS for the current fiscal year according to market analysts.

Wellington Management Group LLP trimmed its stake in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 3.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,362,817 shares of the entertainment giant's stock after selling 302,249 shares during the quarter. Wellington Management Group LLP owned approximately 0.47% of Walt Disney worth $825,410,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Clearstead Trust LLC grew its position in Walt Disney by 0.6% in the 1st quarter. Clearstead Trust LLC now owns 16,509 shares of the entertainment giant's stock valued at $1,629,000 after buying an additional 99 shares during the last quarter. Hemington Wealth Management increased its holdings in Walt Disney by 1.9% during the 1st quarter. Hemington Wealth Management now owns 5,628 shares of the entertainment giant's stock valued at $555,000 after acquiring an additional 105 shares in the last quarter. Allegheny Financial Group grew its position in shares of Walt Disney by 2.3% in the fourth quarter. Allegheny Financial Group now owns 4,624 shares of the entertainment giant's stock valued at $515,000 after purchasing an additional 106 shares during the last quarter. Leigh Baldwin & CO. LLC lifted its position in shares of Walt Disney by 2.2% in the first quarter. Leigh Baldwin & CO. LLC now owns 4,994 shares of the entertainment giant's stock valued at $493,000 after acquiring an additional 108 shares in the last quarter. Finally, Resonant Capital Advisors LLC grew its position in shares of Walt Disney by 0.4% in the first quarter. Resonant Capital Advisors LLC now owns 26,119 shares of the entertainment giant's stock valued at $2,578,000 after purchasing an additional 113 shares during the period. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Walt Disney Stock Up 2.2%

Shares of NYSE DIS traded up $2.5040 during midday trading on Friday, hitting $118.7140. 4,865,527 shares of the company's stock were exchanged, compared to its average volume of 9,698,891. 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 Walt Disney Company has a twelve month low of $80.10 and a twelve month high of $124.69. The firm's fifty day simple moving average is $119.20 and its 200-day simple moving average is $108.21. The company has a market cap of $213.44 billion, a PE ratio of 18.60, a P/E/G ratio of 1.69 and a beta of 1.56.

Walt Disney (NYSE:DIS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 EPS for the quarter, beating the consensus estimate of $1.45 by $0.16. The firm had revenue of $23.65 billion during the quarter, compared to the consensus estimate of $23.69 billion. Walt Disney had a net margin of 12.22% and a return on equity of 9.67%. Walt Disney's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS. Research analysts predict that The Walt Disney Company will post 5.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on DIS shares. Raymond James Financial reissued a "neutral" rating on shares of Walt Disney in a research report on Monday, August 11th. Stephens reaffirmed a "buy" rating on shares of Walt Disney in a research report on Monday, August 11th. Evercore ISI boosted their target price on shares of Walt Disney from $134.00 to $140.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Rosenblatt Securities raised their price target on shares of Walt Disney from $140.00 to $141.00 and gave the company a "buy" rating in a report on Monday, August 11th. Finally, Susquehanna restated a "neutral" rating on shares of Walt Disney in a research note on Monday, August 11th. One equities research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.