Massachusetts Financial Services Co. MA Trims Stake in The Walt Disney Company (NYSE:DIS)

Massachusetts Financial Services Co. MA cut its position in shares of The Walt Disney Company (NYSE:DIS) by 18.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,970,806 shares of the entertainment giant’s stock after selling 2,035,341 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.49% of Walt Disney worth $890,711,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DIS. Gold Investment Management Ltd. bought a new position in shares of Walt Disney during the fourth quarter valued at approximately $28,000. ESL Trust Services LLC purchased a new position in Walt Disney during the 1st quarter valued at $31,000. Frank Rimerman Advisors LLC bought a new position in Walt Disney in the 4th quarter valued at $37,000. Mascoma Wealth Management LLC increased its stake in Walt Disney by 38.0% in the second 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. Finally, Beaird Harris Wealth Management LLC lifted its position in shares of Walt Disney by 30.7% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 498 shares of the entertainment giant’s stock worth $45,000 after purchasing an additional 117 shares during the last quarter. 65.71% of the stock is currently owned by institutional investors.

Walt Disney Price Performance

NYSE:DIS opened at $90.55 on Monday. The firm’s fifty day moving average is $91.06 and its two-hundred day moving average is $102.49. The firm has a market cap of $164.22 billion, a price-to-earnings ratio of 98.42, a PEG ratio of 1.31 and a beta of 1.40. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.66 and a current ratio of 0.72. The Walt Disney Company has a one year low of $78.73 and a one year high of $123.74.

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

Insider Activity

In other news, Director Calvin Mcdonald purchased 11,756 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average cost of $85.06 per share, with a total value of $999,965.36. Following the completion of the acquisition, the director now owns 22,313 shares of the company’s stock, valued at approximately $1,897,943.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Walt Disney from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Bank of America decreased their price target 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. Macquarie lowered their price target on Walt Disney from $107.00 to $94.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Morgan Stanley reduced their price objective on Walt Disney from $130.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Walt Disney from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.95.

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.