Meeder Asset Management Inc. Trims Holdings in The Walt Disney Company (NYSE:DIS)

Meeder Asset Management Inc. lessened its stake in shares of The Walt Disney Company (NYSE:DIS) by 68.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 985 shares of the entertainment giant’s stock after selling 2,157 shares during the period. Meeder Asset Management Inc.’s holdings in Walt Disney were worth $98,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. ESL Trust Services LLC purchased a new position in Walt Disney during the first quarter valued at approximately $31,000. Gold Investment Management Ltd. acquired a new position in Walt Disney during the 4th quarter valued at about $28,000. Red Tortoise LLC raised its stake in Walt Disney by 141.4% in the first quarter. Red Tortoise LLC now owns 367 shares of the entertainment giant’s stock valued at $45,000 after buying an additional 215 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Walt Disney in the fourth quarter worth about $37,000. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of Walt Disney during the first quarter worth about $51,000. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Walt Disney Price Performance

Shares of Walt Disney stock opened at $90.55 on Friday. The Walt Disney Company has a twelve month low of $78.73 and a twelve month high of $123.74. The firm has a market cap of $164.22 billion, a PE ratio of 98.42, a P/E/G ratio of 1.31 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. The business has a 50-day moving average price of $91.06 and a 200 day moving average price of $102.55.

Walt Disney (NYSE:DIS) last released its quarterly earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 EPS for the quarter, beating the consensus estimate of $1.20 by $0.19. The firm had revenue of $23.20 billion for the quarter, compared to analyst estimates 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 previous year, the company earned $1.03 EPS. Sell-side analysts predict that The Walt Disney Company will post 4.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Macquarie lowered their target price on shares of Walt Disney from $107.00 to $94.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Evercore ISI dropped their price objective on shares of Walt Disney from $128.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Barclays reduced their target price on Walt Disney from $130.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Redburn Atlantic upgraded Walt Disney from a “sell” rating to a “neutral” rating and set a $100.00 price target on the stock in a research note on Tuesday, May 21st. Finally, Raymond James reduced their price objective on Walt Disney from $123.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Walt Disney has an average rating of “Moderate Buy” and a consensus price target of $117.95.

Insider Buying and Selling at Walt Disney

In other Walt Disney news, Director Calvin Mcdonald acquired 11,756 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $85.06 per share, with a total value of $999,965.36. Following the transaction, the director now owns 22,313 shares of the company’s stock, valued at $1,897,943.78. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.10% of the company’s stock.

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.