Scion Asset Management LLC cut its holdings in Walt Disney Co (NYSE:DIS) by 14.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,000 shares of the entertainment giant’s stock after selling 10,000 shares during the quarter. Walt Disney comprises approximately 9.0% of Scion Asset Management LLC’s holdings, making the stock its 8th largest position. Scion Asset Management LLC’s holdings in Walt Disney were worth $8,378,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Koshinski Asset Management Inc. lifted its stake in Walt Disney by 6.4% in the second quarter. Koshinski Asset Management Inc. now owns 11,115 shares of the entertainment giant’s stock valued at $1,552,000 after acquiring an additional 667 shares during the last quarter. Halbert Hargrove Russell LLC acquired a new stake in Walt Disney in the second quarter valued at approximately $599,000. WealthPLAN Partners LLC lifted its stake in Walt Disney by 21.6% in the first quarter. WealthPLAN Partners LLC now owns 7,040 shares of the entertainment giant’s stock valued at $948,000 after acquiring an additional 1,250 shares during the last quarter. Markel Corp lifted its stake in Walt Disney by 0.9% in the second quarter. Markel Corp now owns 1,823,000 shares of the entertainment giant’s stock valued at $254,564,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Cramer Rosenthal Mcglynn LLC acquired a new stake in Walt Disney in the second quarter valued at approximately $15,573,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.
A number of research firms have issued reports on DIS. Citigroup reiterated a “buy” rating and issued a $160.00 target price (up from $132.00) on shares of Walt Disney in a research note on Thursday, June 6th. Imperial Capital reduced their target price on shares of Walt Disney from $147.00 to $140.00 and set an “in-line” rating for the company in a research note on Tuesday, August 20th. Morgan Stanley set a $160.00 price objective on shares of Walt Disney and gave the stock a “buy” rating in a research note on Friday, August 2nd. Loop Capital boosted their price objective on shares of Walt Disney to $165.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Finally, Bank of America set a $168.00 price objective on shares of Walt Disney and gave the stock a “buy” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $148.22.
In related news, EVP Brent Woodford sold 2,200 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $146.68, for a total transaction of $322,696.00. Following the completion of the transaction, the executive vice president now directly owns 34,679 shares in the company, valued at approximately $5,086,715.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Zenia B. Mucha sold 49,561 shares of the company’s stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $140.00, for a total transaction of $6,938,540.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,223 shares of company stock valued at $20,885,881. Corporate insiders own 0.36% of the company’s stock.
Shares of Walt Disney stock traded down $2.22 on Monday, reaching $135.80. The stock had a trading volume of 6,139,185 shares, compared to its average volume of 6,682,575. The stock has a market cap of $247.69 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 4.55 and a beta of 0.97. Walt Disney Co has a fifty-two week low of $100.35 and a fifty-two week high of $147.15. The business’s 50-day moving average price is $138.09 and its two-hundred day moving average price is $131.75. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.67 and a current ratio of 0.70.
Walt Disney (NYSE:DIS) last released its earnings results on Tuesday, August 6th. The entertainment giant reported $1.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.41). The company had revenue of $20.25 billion for the quarter, compared to analyst estimates of $21.40 billion. Walt Disney had a net margin of 19.02% and a return on equity of 13.08%. Walt Disney’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.87 earnings per share. As a group, equities analysts forecast that Walt Disney Co will post 6 earnings per share for the current fiscal year.
About Walt Disney
The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming businesses under the ESPN, Disney, and Freeform brands; broadcast businesses, including ABC TV Network and eight owned television stations; and radio businesses.
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