SlateStone Wealth LLC Sells 4,118 Shares of The Walt Disney Company (NYSE:DIS)

SlateStone Wealth LLC lessened its position in shares of The Walt Disney Company (NYSE:DIS) by 10.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,220 shares of the entertainment giant’s stock after selling 4,118 shares during the period. SlateStone Wealth LLC’s holdings in Walt Disney were worth $3,398,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vaughan Nelson Investment Management L.P. raised its stake in Walt Disney by 84.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,000,267 shares of the entertainment giant’s stock worth $244,754,000 after buying an additional 916,772 shares during the last quarter. Valmark Advisers Inc. raised its stake in Walt Disney by 4.9% during the fourth quarter. Valmark Advisers Inc. now owns 7,744 shares of the entertainment giant’s stock worth $699,000 after buying an additional 359 shares during the last quarter. Jennison Associates LLC bought a new stake in Walt Disney in the first quarter valued at $1,490,492,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Walt Disney by 4.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 556,658 shares of the entertainment giant’s stock valued at $68,113,000 after purchasing an additional 22,568 shares in the last quarter. Finally, Rheos Capital Works Inc. increased its stake in Walt Disney by 41.3% in the first quarter. Rheos Capital Works Inc. now owns 175,900 shares of the entertainment giant’s stock valued at $21,523,000 after purchasing an additional 51,400 shares in the last quarter. Institutional investors own 65.71% of the company’s stock.

Walt Disney Stock Performance

DIS traded up $1.22 during midday trading on Monday, reaching $91.78. The company had a trading volume of 7,998,628 shares, compared to its average volume of 11,553,087. 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 stock has a market cap of $167.32 billion, a PE ratio of 99.76, a P/E/G ratio of 1.15 and a beta of 1.40. The Walt Disney Company has a 12-month low of $78.73 and a 12-month high of $123.74. The business has a 50-day moving average price of $94.16 and a two-hundred day moving average price of $104.50.

Walt Disney (NYSE:DIS) last released its earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.19. The firm had revenue of $23.20 billion for the quarter, compared to analysts’ expectations of $23.08 billion. Walt Disney had a net margin of 1.90% and a return on equity of 8.37%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 earnings per share. On average, sell-side analysts expect that The Walt Disney Company will post 4.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DIS shares. 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. Needham & Company LLC decreased their price target on shares of Walt Disney from $145.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Loop Capital reduced their price objective on shares of Walt Disney from $139.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. JPMorgan Chase & Co. reduced their price objective on shares of Walt Disney from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, Macquarie reduced their price objective on shares of Walt Disney from $107.00 to $94.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.95.

Insider Activity

In other Walt Disney news, Director Calvin Mcdonald purchased 11,756 shares of the stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $85.06 per share, with a total value of $999,965.36. Following the completion of the transaction, the director now directly owns 22,313 shares in the company, valued at approximately $1,897,943.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

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.