Optimum Investment Advisors Reduces Stock Position in The Walt Disney Company (NYSE:DIS)

Optimum Investment Advisors cut its stake in The Walt Disney Company (NYSE:DIS) by 5.4% in the third quarter, Holdings Channel.com reports. The firm owned 8,823 shares of the entertainment giant’s stock after selling 500 shares during the quarter. Optimum Investment Advisors’ holdings in Walt Disney were worth $849,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in DIS. Jennison Associates LLC purchased a new position in Walt Disney in the first quarter worth approximately $1,490,492,000. Capital World Investors grew its position 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 worth $766,903,000 after acquiring an additional 6,084,993 shares during the period. Swedbank AB purchased a new position in Walt Disney in the first quarter worth approximately $493,715,000. Farallon Capital Management LLC purchased a new position in Walt Disney in the second quarter worth approximately $355,673,000. Finally, Ontario Teachers Pension Plan Board purchased a new position in Walt Disney in the first quarter worth approximately $425,567,000. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Calvin Mcdonald bought 11,756 shares of Walt Disney stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $85.06 per share, with a total value of $999,965.36. Following the acquisition, the director now owns 22,313 shares of the company’s stock, valued at approximately $1,897,943.78. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

Walt Disney Stock Down 0.2 %

Shares of NYSE DIS opened at $96.53 on Friday. The company has a market capitalization of $175.98 billion, a price-to-earnings ratio of 104.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.40. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.72 and a quick ratio of 0.66. The business has a 50-day moving average of $91.50 and a two-hundred day moving average of $99.22. The Walt Disney Company has a 1 year low of $79.23 and a 1 year high of $123.74.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DIS shares. Bank of America lowered their price objective on Walt Disney from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Morgan Stanley lowered their price target on Walt Disney from $130.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Evercore ISI lowered their price target on Walt Disney from $128.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company lowered their price target on Walt Disney from $136.00 to $116.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, Loop Capital lowered their price target on Walt Disney from $139.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $118.05.

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.