Summit Financial Strategies Inc. Reduces Position in The Walt Disney Company (NYSE:DIS)

Summit Financial Strategies Inc. decreased its stake in The Walt Disney Company (NYSE:DIS) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,103 shares of the entertainment giant’s stock after selling 172 shares during the period. Summit Financial Strategies Inc.’s holdings in Walt Disney were worth $395,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. ESL Trust Services LLC acquired a new position in shares of Walt Disney in the 1st quarter valued at $31,000. William B. Walkup & Associates Inc. acquired a new stake in Walt Disney during the 2nd quarter worth $32,000. Mascoma Wealth Management LLC boosted its stake in Walt Disney by 38.0% during the 2nd quarter. Mascoma Wealth Management LLC now owns 443 shares of the entertainment giant’s stock worth $44,000 after purchasing an additional 122 shares during the period. Red Tortoise LLC boosted its stake in Walt Disney by 141.4% during the 1st quarter. Red Tortoise LLC now owns 367 shares of the entertainment giant’s stock worth $45,000 after purchasing an additional 215 shares during the period. Finally, First PREMIER Bank boosted its stake in Walt Disney by 98.1% during the 3rd quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock worth $50,000 after purchasing an additional 256 shares during the period. Institutional investors and hedge funds own 65.71% of the company’s stock.

Walt Disney Price Performance

Shares of NYSE DIS traded down $0.31 during midday trading on Thursday, hitting $96.44. The company had a trading volume of 3,416,212 shares, compared to its average volume of 10,963,378. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.38. The Walt Disney Company has a twelve month low of $79.23 and a twelve month high of $123.74. The business has a 50-day simple moving average of $91.29 and a two-hundred day simple moving average of $99.24. The firm has a market capitalization of $175.81 billion, a price-to-earnings ratio of 105.16, a price-to-earnings-growth ratio of 1.49 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19. The company had revenue of $23.20 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. Equities research analysts anticipate that The Walt Disney Company will post 4.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DIS shares. JPMorgan Chase & Co. decreased their price target on shares of Walt Disney from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Moffett Nathanson decreased their price target on shares of Walt Disney from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Macquarie decreased their price target on shares of Walt Disney from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, September 19th. Seaport Res Ptn upgraded shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Bank of America reduced their target price on shares of Walt Disney from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.05.

Insiders Place Their Bets

In other Walt Disney news, Director Calvin Mcdonald bought 11,756 shares of the business’s 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 completion of the transaction, the director now owns 22,313 shares in the company, valued at approximately $1,897,943.78. The trade was a 100.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is currently owned by company insiders.

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.