The Walt Disney Company (NYSE:DIS) Shares Sold by Avalon Capital Management

Avalon Capital Management lowered its position in The Walt Disney Company (NYSE:DIS) by 4.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 23,372 shares of the entertainment giant’s stock after selling 1,002 shares during the period. Walt Disney accounts for approximately 0.7% of Avalon Capital Management’s portfolio, making the stock its 29th biggest holding. Avalon Capital Management’s holdings in Walt Disney were worth $2,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Walt Disney in the 4th quarter valued at about $1,938,647,000. Jennison Associates LLC purchased a new stake in Walt Disney in the first quarter valued at approximately $1,490,492,000. Capital World Investors lifted its stake in Walt Disney by 3,332.4% in the first quarter. Capital World Investors now owns 6,267,593 shares of the entertainment giant’s stock valued at $766,903,000 after buying an additional 6,084,993 shares during the last quarter. ValueAct Holdings L.P. purchased a new stake in Walt Disney in the fourth quarter valued at approximately $459,245,000. Finally, Swedbank AB purchased a new stake in Walt Disney in the first quarter valued at approximately $493,715,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Insider Activity

In other news, Director Calvin Mcdonald acquired 11,756 shares of Walt Disney stock in a transaction on Thursday, August 8th. The stock was bought at an average price of $85.06 per share, for a total transaction of $999,965.36. Following the transaction, the director now owns 22,313 shares of the company’s stock, valued at $1,897,943.78. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Raymond James cut their price target on Walt Disney from $123.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Moffett Nathanson decreased their price objective on Walt Disney from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. UBS Group reduced their target price on Walt Disney from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their target price on Walt Disney from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Bank of America cut their price objective on Walt Disney from $145.00 to $120.00 and set a “buy” rating on the stock 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 data from MarketBeat, Walt Disney currently has an average rating of “Moderate Buy” and an average target price of $117.95.

Walt Disney Price Performance

Shares of DIS traded up $0.63 during midday trading on Friday, reaching $90.55. The stock had a trading volume of 7,362,837 shares, compared to its average volume of 11,574,595. 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 current ratio of 0.75 and a quick ratio of 0.69. The firm’s 50 day moving average price is $94.54 and its 200-day moving average price is $104.60. The company has a market capitalization of $165.08 billion, a P/E ratio of 97.90, a P/E/G ratio of 1.15 and a beta of 1.40.

Walt Disney (NYSE:DIS) last announced its earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 EPS for the quarter, beating the consensus estimate of $1.20 by $0.19. Walt Disney had a return on equity of 8.37% and a net margin of 1.90%. The business had revenue of $23.20 billion during the quarter, compared to the consensus estimate of $23.08 billion. During the same period in the prior year, the business posted $1.03 earnings per share. Walt Disney’s revenue was up 3.9% compared to the same quarter last year. On average, analysts forecast that The Walt Disney Company will post 4.77 earnings per share for the current fiscal year.

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.