Pettee Investors Inc. Has $2.43 Million Position in The Walt Disney Company (NYSE:DIS)

Pettee Investors Inc. cut its holdings in The Walt Disney Company (NYSE:DIS) by 4.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 24,443 shares of the entertainment giant’s stock after selling 1,050 shares during the quarter. Pettee Investors Inc.’s holdings in Walt Disney were worth $2,427,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Gold Investment Management Ltd. bought a new position in shares of Walt Disney in the fourth quarter worth about $28,000. ESL Trust Services LLC bought a new position in Walt Disney in the 1st quarter worth approximately $31,000. Partnership Wealth Management LLC acquired a new position in Walt Disney during the 4th quarter worth $33,000. Frank Rimerman Advisors LLC bought a new position in Walt Disney in the 4th quarter valued at $37,000. Finally, Mascoma Wealth Management LLC boosted its position in Walt Disney by 38.0% in the 2nd quarter. Mascoma Wealth Management LLC now owns 443 shares of the entertainment giant’s stock valued at $44,000 after buying an additional 122 shares during the last quarter. 65.71% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Calvin Mcdonald acquired 11,756 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of $85.06 per share, for a total transaction of $999,965.36. Following the completion of the acquisition, the director now owns 22,313 shares in the company, valued at $1,897,943.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group cut their price target on Walt Disney from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley cut their target price on shares of Walt Disney from $130.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Barclays lowered their price target on shares of Walt Disney from $130.00 to $105.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. The Goldman Sachs Group started coverage on shares of Walt Disney in a report on Tuesday, June 25th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Walt Disney from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, Walt Disney currently has a consensus rating of “Moderate Buy” and an average price target of $117.95.

Walt Disney Stock Performance

Shares of DIS stock opened at $89.35 on Wednesday. The company has a market capitalization of $162.89 billion, a P/E ratio of 96.88, a price-to-earnings-growth ratio of 1.34 and a beta of 1.40. The Walt Disney Company has a 52 week low of $78.73 and a 52 week high of $123.74. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.66 and a current ratio of 0.72. The company’s 50 day moving average price is $92.74 and its two-hundred day moving average price is $103.63.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data on Wednesday, August 7th. The entertainment giant reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19. The business had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.08 billion. Walt Disney had a net margin of 5.30% and a return on equity of 8.64%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the business posted $1.03 earnings per share. On average, analysts expect that The Walt Disney Company will post 4.92 earnings per share for the current fiscal year.

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.