Griffin Asset Management Inc. Sells 877 Shares of The Walt Disney Company $DIS

Griffin Asset Management Inc. cut its holdings in shares of The Walt Disney Company (NYSE:DIS) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,759 shares of the entertainment giant’s stock after selling 877 shares during the period. Walt Disney makes up approximately 1.3% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 26th largest holding. Griffin Asset Management Inc.’s holdings in Walt Disney were worth $10,635,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DIS. Kingstone Capital Partners Texas LLC bought a new position in Walt Disney during the second quarter worth about $4,220,599,000. Nuveen LLC bought a new position in Walt Disney during the first quarter worth about $1,353,607,000. Diamond Hill Capital Management Inc. lifted its holdings in Walt Disney by 1,080.7% during the first quarter. Diamond Hill Capital Management Inc. now owns 2,816,548 shares of the entertainment giant’s stock worth $277,993,000 after acquiring an additional 2,578,004 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Walt Disney by 1.6% during the first quarter. Vanguard Group Inc. now owns 155,862,361 shares of the entertainment giant’s stock worth $15,383,615,000 after acquiring an additional 2,446,087 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Walt Disney by 9.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,509,924 shares of the entertainment giant’s stock worth $1,826,930,000 after acquiring an additional 1,642,907 shares in the last quarter. 65.71% of the stock is currently owned by institutional investors.

Walt Disney Price Performance

NYSE:DIS opened at $109.17 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.72. The stock’s 50-day simple moving average is $115.36 and its 200 day simple moving average is $110.48. The company has a market cap of $196.27 billion, a P/E ratio of 17.11, a P/E/G ratio of 1.43 and a beta of 1.54. The Walt Disney Company has a 52-week low of $80.10 and a 52-week high of $124.69.

Walt Disney (NYSE:DIS) last released its earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.16. The business had revenue of $23.65 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.39 earnings per share. As a group, sell-side analysts forecast that The Walt Disney Company will post 5.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on DIS. Barclays lifted their price target on Walt Disney from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Raymond James Financial reissued a “neutral” rating on shares of Walt Disney in a research note on Monday, August 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of Walt Disney in a research note on Wednesday, October 8th. Morgan Stanley lifted their price target on Walt Disney from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Finally, Susquehanna reissued a “neutral” rating on shares of Walt Disney in a research note on Monday, August 11th. Nineteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Walt Disney currently has a consensus rating of “Moderate Buy” and a consensus price target 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.