Americana Partners LLC Trims Stake in The Walt Disney Company (NYSE:DIS)

Americana Partners LLC reduced its position in shares of The Walt Disney Company (NYSE:DIS) by 4.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,892 shares of the entertainment giant’s stock after selling 448 shares during the period. Americana Partners LLC’s holdings in Walt Disney were worth $982,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Gold Investment Management Ltd. purchased a new position in Walt Disney in the fourth quarter worth $28,000. ESL Trust Services LLC purchased a new position in Walt Disney in the first quarter worth $31,000. Partnership Wealth Management LLC purchased a new position in Walt Disney in the fourth quarter worth $33,000. Frank Rimerman Advisors LLC purchased a new position in Walt Disney in the fourth quarter worth $37,000. Finally, Beaird Harris Wealth Management LLC grew its position in Walt Disney by 30.7% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 498 shares of the entertainment giant’s stock worth $45,000 after acquiring an additional 117 shares in the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Walt Disney Stock Performance

Walt Disney stock opened at $90.38 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.69 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average of $93.23 and a 200-day moving average of $104.04. The firm has a market cap of $164.77 billion, a P/E ratio of 98.24, a P/E/G ratio of 1.15 and a beta of 1.40. The Walt Disney Company has a 1-year low of $78.73 and a 1-year high of $123.74.

Walt Disney (NYSE:DIS) last posted its earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19. The company had revenue of $23.20 billion during the quarter, compared to analyst estimates of $23.08 billion. Walt Disney had a net margin of 1.90% and a return on equity of 8.37%. Walt Disney’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. Sell-side analysts expect that The Walt Disney Company will post 4.77 EPS for the current year.

Insiders Place Their Bets

In related news, Director Calvin Mcdonald acquired 11,756 shares of the stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $85.06 per share, for a total transaction of $999,965.36. Following the completion of the acquisition, the director now directly owns 22,313 shares of the company’s stock, valued at approximately $1,897,943.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DIS has been the subject of several research reports. Bank of America cut their target price on shares of Walt Disney from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Walt Disney from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Macquarie cut their price target on shares of Walt Disney from $107.00 to $94.00 and set a “neutral” rating for the company in a research 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 research note on Monday, August 5th. Finally, The Goldman Sachs Group began coverage on Walt Disney in a research note on Tuesday, June 25th. They set a “buy” rating and a $125.00 price objective on the stock. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $117.95.

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.