Horizon Wealth Management LLC Decreases Holdings in The Walt Disney Company (NYSE:DIS)

Horizon Wealth Management LLC lowered its stake in shares of The Walt Disney Company (NYSE:DIS) by 27.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,641 shares of the entertainment giant’s stock after selling 6,774 shares during the period. Walt Disney comprises 0.6% of Horizon Wealth Management LLC’s investment portfolio, making the stock its 20th biggest position. Horizon Wealth Management LLC’s holdings in Walt Disney were worth $2,159,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of DIS. Norges Bank acquired a new position in shares of Walt Disney during the 4th quarter worth approximately $1,938,647,000. ValueAct Holdings L.P. acquired a new stake in shares of Walt Disney in the 4th quarter worth $459,245,000. International Assets Investment Management LLC raised its holdings in shares of Walt Disney by 8,681.3% during the 4th quarter. International Assets Investment Management LLC now owns 3,349,709 shares of the entertainment giant’s stock worth $302,445,000 after acquiring an additional 3,311,563 shares during the period. California Public Employees Retirement System boosted its position in shares of Walt Disney by 34.8% during the 4th quarter. California Public Employees Retirement System now owns 6,646,336 shares of the entertainment giant’s stock valued at $600,098,000 after acquiring an additional 1,716,259 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Walt Disney by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 151,443,502 shares of the entertainment giant’s stock valued at $13,673,834,000 after purchasing an additional 1,555,748 shares during the period. Institutional investors and hedge funds own 65.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DIS. Evercore ISI cut their target price on Walt Disney from $130.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Morgan Stanley upped their price objective on shares of Walt Disney from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Daiwa Capital Markets reiterated a “buy” rating and issued a $133.00 target price on shares of Walt Disney in a report on Monday, April 1st. The Goldman Sachs Group initiated coverage on Walt Disney in a research note on Tuesday, June 25th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Bank of America increased their target price on Walt Disney from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.50.

Insider Activity

In other news, Director James P. Gorman bought 20,000 shares of Walt Disney stock in a transaction on Wednesday, May 8th. The shares were bought at an average cost of $106.03 per share, for a total transaction of $2,120,600.00. Following the acquisition, the director now owns 20,467 shares in the company, valued at $2,170,116.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Sonia L. Coleman sold 4,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $106.00, for a total value of $466,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James P. Gorman acquired 20,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were bought at an average cost of $106.03 per share, with a total value of $2,120,600.00. Following the completion of the purchase, the director now directly owns 20,467 shares in the company, valued at $2,170,116.01. The disclosure for this purchase can be found here. Company insiders own 0.10% of the company’s stock.

Walt Disney Stock Performance

Shares of NYSE:DIS traded down $1.36 during midday trading on Monday, hitting $97.93. The stock had a trading volume of 7,647,341 shares, compared to its average volume of 11,456,991. The company has a market capitalization of $178.53 billion, a PE ratio of 106.57, a P/E/G ratio of 1.23 and a beta of 1.40. The Walt Disney Company has a 1 year low of $78.73 and a 1 year high of $123.74. The stock has a 50 day moving average price of $104.76 and a two-hundred day moving average price of $104.74. The company has a current ratio of 0.75, a quick ratio of 0.69 and a debt-to-equity ratio of 0.38.

Walt Disney (NYSE:DIS) last issued its earnings results on Tuesday, May 7th. The entertainment giant reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The company had revenue of $22.08 billion during the quarter, compared to analysts’ expectations of $22.12 billion. Walt Disney had a net margin of 1.90% and a return on equity of 8.37%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share. As a group, equities analysts predict that The Walt Disney Company will post 4.76 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.