Griffin Asset Management Inc. Sells 226 Shares of The Walt Disney Company (NYSE:DIS)

Griffin Asset Management Inc. cut its stake in The Walt Disney Company (NYSE:DIS) by 0.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,381 shares of the entertainment giant’s stock after selling 226 shares during the quarter. Walt Disney accounts for 1.3% of Griffin Asset Management Inc.’s holdings, making the stock its 20th biggest position. Griffin Asset Management Inc.’s holdings in Walt Disney were worth $11,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Planned Solutions Inc. acquired a new position in shares of Walt Disney in the 4th quarter valued at $26,000. Gold Investment Management Ltd. bought a new stake in shares of Walt Disney in the fourth quarter worth about $28,000. Fortis Group Advisors LLC acquired a new stake in shares of Walt Disney during the third quarter worth about $30,000. Stone House Investment Management LLC raised its holdings in Walt Disney by 355.3% during the 4th quarter. Stone House Investment Management LLC now owns 346 shares of the entertainment giant’s stock worth $31,000 after buying an additional 270 shares during the period. Finally, Partnership Wealth Management LLC bought a new stake in Walt Disney in the 4th quarter valued at $33,000. 65.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DIS shares. JPMorgan Chase & Co. began coverage on Walt Disney in a report on Thursday, April 11th. They issued an “overweight” rating and a $140.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Walt Disney in a research report on Tuesday, May 7th. Rosenblatt Securities lifted their price objective on shares of Walt Disney from $129.00 to $137.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Morgan Stanley increased their target price on shares of Walt Disney from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Finally, Raymond James lifted their price target on shares of Walt Disney from $112.00 to $128.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, Walt Disney has an average rating of “Moderate Buy” and a consensus target price of $126.50.

Insider Transactions at Walt Disney

In other news, EVP Sonia L. Coleman sold 4,400 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $106.00, for a total value of $466,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director James P. Gorman purchased 20,000 shares of Walt Disney stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average price of $106.03 per share, with a total value of $2,120,600.00. Following the completion of the transaction, the director now directly owns 20,467 shares of the company’s stock, valued at approximately $2,170,116.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sonia L. Coleman sold 4,400 shares of Walt Disney stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $106.00, for a total value of $466,400.00. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Walt Disney Price Performance

NYSE:DIS opened at $99.29 on Friday. The company has a market cap of $181.01 billion, a P/E ratio of 107.93, a P/E/G ratio of 1.23 and a beta of 1.40. The firm’s fifty day moving average price is $104.76 and its two-hundred day moving average price is $104.66. The Walt Disney Company has a one year low of $78.73 and a one year high of $123.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.75 and a quick ratio of 0.69.

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

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.