Essex Investment Management Co. LLC Sells 1,599 Shares of The Walt Disney Company (NYSE:DIS)

Essex Investment Management Co. LLC trimmed its holdings in shares of The Walt Disney Company (NYSE:DIS) by 4.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 31,856 shares of the entertainment giant’s stock after selling 1,599 shares during the period. Essex Investment Management Co. LLC’s holdings in Walt Disney were worth $3,064,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. ESL Trust Services LLC acquired a new position in shares of Walt Disney during the 1st quarter worth approximately $31,000. William B. Walkup & Associates Inc. acquired a new position in Walt Disney during the second quarter worth $32,000. Red Tortoise LLC raised its position in Walt Disney by 141.4% during the first quarter. Red Tortoise LLC now owns 367 shares of the entertainment giant’s stock worth $45,000 after acquiring an additional 215 shares in the last quarter. O Brien Wealth Partners LLC acquired a new stake in Walt Disney in the first quarter valued at $51,000. Finally, Mascoma Wealth Management LLC grew its position in shares of Walt Disney by 38.0% in the 2nd quarter. Mascoma Wealth Management LLC now owns 443 shares of the entertainment giant’s stock valued at $44,000 after acquiring an additional 122 shares during the period. Institutional investors own 65.71% of the company’s stock.

Walt Disney Price Performance

Shares of DIS stock traded up $1.14 on Friday, hitting $94.13. 8,089,133 shares of the company’s stock were exchanged, compared to its average volume of 11,051,948. The company has a 50 day moving average of $90.85 and a 200 day moving average of $99.80. The stock has a market cap of $171.60 billion, a P/E ratio of 102.32, a price-to-earnings-growth ratio of 1.49 and a beta of 1.40. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.72 and a quick ratio of 0.66. The Walt Disney Company has a 12 month low of $79.23 and a 12 month high of $123.74.

Walt Disney (NYSE:DIS) last posted 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 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 business’s revenue for the quarter 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. On average, equities research analysts predict that The Walt Disney Company will post 4.92 EPS for the current year.

Insiders Place Their Bets

In other news, Director Calvin Mcdonald acquired 11,756 shares of the business’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 22,313 shares in the company, valued at $1,897,943.78. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Raymond James restated a “market perform” rating on shares of Walt Disney in a research note on Tuesday, October 1st. The Goldman Sachs Group started coverage on Walt Disney in a report on Tuesday, June 25th. They set a “buy” rating and a $125.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Walt Disney from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Morgan Stanley cut their target price on shares of Walt Disney from $130.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, UBS Group lowered their price target on shares of Walt Disney from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $119.20.

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.