Zurich Insurance Group Ltd FI Sells 68,225 Shares of The Walt Disney Company $DIS

Key Points

• Zurich Insurance Group Ltd FI has reduced its stake in The Walt Disney Company by 16.9%, selling 68,225 shares during the first quarter, leaving them with 336,421 shares valued at $33.2 million.
• Walt Disney's earnings report showed an EPS of $1.61, surpassing estimates and demonstrating a 2.1% year-over-year revenue increase to $23.65 billion.
• The stock has a current price of $118.77, with analyst opinions varying from "neutral" to "buy," and a consensus price target of $131.18.

Zurich Insurance Group Ltd FI trimmed its position in The Walt Disney Company (NYSE:DIS - Free Report) by 16.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 336,421 shares of the entertainment giant's stock after selling 68,225 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in Walt Disney were worth $33,205,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DIS. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Walt Disney in the first quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Walt Disney in the fourth quarter worth $27,000. Kessler Investment Group LLC lifted its stake in shares of Walt Disney by 274.0% in the first quarter. Kessler Investment Group LLC now owns 273 shares of the entertainment giant's stock worth $27,000 after acquiring an additional 200 shares during the period. Copia Wealth Management bought a new stake in Walt Disney during the fourth quarter valued at $36,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Walt Disney during the fourth quarter valued at $39,000. 65.71% of the stock is owned by institutional investors.

Walt Disney Price Performance

DIS stock opened at $118.77 on Tuesday. The Walt Disney Company has a 12-month low of $80.10 and a 12-month high of $124.69. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average price is $118.90 and its two-hundred day moving average price is $108.84. The stock has a market capitalization of $213.54 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.71 and a beta of 1.55.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on DIS shares. Raymond James Financial reaffirmed a "neutral" rating on shares of Walt Disney in a research report on Monday, August 11th. Susquehanna restated a "neutral" rating on shares of Walt Disney in a report on Monday, August 11th. Needham & Company LLC reiterated a "buy" rating and issued a $125.00 price objective on shares of Walt Disney in a research note on Thursday, September 4th. JPMorgan Chase & Co. raised their price target on shares of Walt Disney from $130.00 to $138.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, Evercore ISI raised their price target on shares of Walt Disney from $134.00 to $140.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.

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