Cullinan Associates Inc. Lowers Holdings in The Walt Disney Company (NYSE:DIS)

Cullinan Associates Inc. trimmed its position in The Walt Disney Company (NYSE:DIS) by 14.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,157 shares of the entertainment giant’s stock after selling 13,317 shares during the period. Cullinan Associates Inc.’s holdings in Walt Disney were worth $7,619,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DIS. ESL Trust Services LLC purchased a new position in Walt Disney during the first quarter worth about $31,000. William B. Walkup & Associates Inc. bought a new stake in shares of Walt Disney during the 2nd quarter valued at about $32,000. Mascoma Wealth Management LLC grew its holdings in shares of Walt Disney by 38.0% during 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 in the last quarter. Red Tortoise LLC increased its position in shares of Walt Disney by 141.4% in the first 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 last quarter. Finally, First PREMIER Bank raised its stake in Walt Disney by 98.1% in the third quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock valued at $50,000 after purchasing an additional 256 shares in the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Seaport Res Ptn raised shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Wells Fargo & Company reduced their target price on Walt Disney from $136.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Evercore ISI dropped their price target on Walt Disney from $128.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Bank of America cut their price objective on Walt Disney from $145.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Macquarie decreased their price objective on Walt Disney from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, September 19th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $118.05.

Walt Disney Trading Up 1.2 %

Shares of DIS traded up $1.17 during mid-day trading on Friday, hitting $96.57. 587,755 shares of the company’s stock traded hands, compared to its average volume of 10,835,266. The business’s 50-day moving average price is $92.36 and its 200-day moving average price is $98.44. The Walt Disney Company has a 1 year low of $79.23 and a 1 year high of $123.74. The firm has a market capitalization of $176.05 billion, a P/E ratio of 103.73, a PEG ratio of 1.49 and a beta of 1.40. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.38.

Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.19. The company had revenue of $23.20 billion for 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%. Walt Disney’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. As a group, sell-side analysts forecast that The Walt Disney Company will post 4.92 EPS for the current fiscal year.

Insider Activity

In other Walt Disney news, Director Calvin Mcdonald bought 11,756 shares of Walt Disney stock in a transaction dated 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 transaction, the director now directly owns 22,313 shares of the company’s stock, valued at $1,897,943.78. This represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by company insiders.

Walt Disney Company 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.