Reliant Investment Management LLC Reduces Holdings in The Walt Disney Company (NYSE:DIS)

Reliant Investment Management LLC lowered its position in The Walt Disney Company (NYSE:DIS) by 1.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 40,897 shares of the entertainment giant’s stock after selling 600 shares during the quarter. Walt Disney comprises 2.3% of Reliant Investment Management LLC’s investment portfolio, making the stock its 23rd largest holding. Reliant Investment Management LLC’s holdings in Walt Disney were worth $5,004,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Occidental Asset Management LLC purchased a new stake in shares of Walt Disney during the 1st quarter valued at approximately $1,643,000. Independence Bank of Kentucky lifted its position in shares of Walt Disney by 6.6% during the first quarter. Independence Bank of Kentucky now owns 17,472 shares of the entertainment giant’s stock worth $2,138,000 after acquiring an additional 1,083 shares in the last quarter. S.E.E.D. Planning Group LLC lifted its position in shares of Walt Disney by 32.4% during the first quarter. S.E.E.D. Planning Group LLC now owns 11,680 shares of the entertainment giant’s stock worth $1,429,000 after acquiring an additional 2,855 shares in the last quarter. Silverleafe Capital Partners LLC bought a new position in shares of Walt Disney in the first quarter worth $932,000. Finally, Kathmere Capital Management LLC grew its position in shares of Walt Disney by 53.4% in the first quarter. Kathmere Capital Management LLC now owns 4,284 shares of the entertainment giant’s stock valued at $524,000 after purchasing an additional 1,491 shares in the last quarter. 65.71% of the stock is currently owned by institutional investors.

Walt Disney Stock Down 2.8 %

Shares of DIS stock traded down $2.88 during mid-day trading on Friday, hitting $99.29. The company’s stock had a trading volume of 21,439,416 shares, compared to its average volume of 8,740,152. The stock has a market cap of $181.01 billion, a price-to-earnings ratio of 107.82, a PEG ratio of 1.27 and a beta of 1.40. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.69 and a current ratio of 0.75. The Walt Disney Company has a 52-week low of $78.73 and a 52-week high of $123.74. The business has a 50-day moving average price of $104.76 and a 200 day moving average price of $104.57.

Walt Disney (NYSE:DIS) last issued its earnings results on Tuesday, May 7th. The entertainment giant reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Walt Disney had a return on equity of 8.37% and a net margin of 1.90%. The business had revenue of $22.08 billion during the quarter, compared to analyst estimates of $22.12 billion. During the same quarter in the previous year, the firm earned $0.93 EPS. Walt Disney’s revenue was up 1.2% on a year-over-year basis. Research analysts predict that The Walt Disney Company will post 4.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley raised their target price on Walt Disney from $110.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Barclays reduced their price objective on shares of Walt Disney from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. UBS Group lowered their target price on shares of Walt Disney from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Rosenblatt Securities upped their price target on shares of Walt Disney from $129.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of Walt Disney from $128.00 to $141.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.50.

Insider Buying and Selling

In other news, Director James P. Gorman bought 20,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $106.03 per share, for a total transaction of $2,120,600.00. Following the purchase, the director now owns 20,467 shares in the company, valued at $2,170,116.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Sonia L. Coleman sold 1,857 shares of Walt Disney stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $121.92, for a total transaction of $226,405.44. Following the sale, the executive vice president now owns 4,400 shares in the company, valued at $536,448. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James P. Gorman bought 20,000 shares of Walt Disney stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average cost of $106.03 per share, for a total transaction of $2,120,600.00. Following the completion of the acquisition, the director now directly owns 20,467 shares of the company’s stock, valued at approximately $2,170,116.01. The disclosure for this purchase can be found here. 0.10% of the stock is currently owned by insiders.

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.