Sterneck Capital Management LLC Lowers Holdings in The Walt Disney Company (NYSE:DIS)

Sterneck Capital Management LLC lowered its position in shares of The Walt Disney Company (NYSE:DIS) by 1.1% in the third quarter, Holdings Channel reports. The institutional investor owned 29,145 shares of the entertainment giant’s stock after selling 320 shares during the period. Walt Disney accounts for 1.5% of Sterneck Capital Management LLC’s holdings, making the stock its 21st biggest holding. Sterneck Capital Management LLC’s holdings in Walt Disney were worth $2,803,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. ESL Trust Services LLC acquired a new position in Walt Disney during the first quarter worth $31,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Walt Disney during the 2nd quarter worth $32,000. Frank Rimerman Advisors LLC acquired a new position in shares of Walt Disney during the 4th quarter worth $37,000. Mascoma Wealth Management LLC increased its holdings 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 purchasing an additional 122 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC lifted its stake in shares of Walt Disney by 30.7% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 498 shares of the entertainment giant’s stock valued at $45,000 after purchasing an additional 117 shares during the period. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director Calvin Mcdonald bought 11,756 shares of Walt Disney stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $85.06 per share, for a total transaction of $999,965.36. Following the completion of the acquisition, the director now owns 22,313 shares of the company’s stock, valued at $1,897,943.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by insiders.

Walt Disney Price Performance

Shares of NYSE:DIS opened at $93.63 on Friday. The business has a fifty day simple moving average of $90.68 and a 200-day simple moving average of $100.88. The Walt Disney Company has a 52 week low of $78.73 and a 52 week high of $123.74. The company has a market cap of $170.69 billion, a P/E ratio of 101.77, a P/E/G ratio of 1.53 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 posted its quarterly earnings data on Wednesday, August 7th. The entertainment giant reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.19. Walt Disney had a net margin of 5.30% and a return on equity of 8.64%. The company had revenue of $23.20 billion during the quarter, compared to the consensus estimate of $23.08 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts forecast that The Walt Disney Company will post 4.92 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on DIS. Seaport Res Ptn upgraded shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research report on Monday. The Goldman Sachs Group assumed coverage on Walt Disney in a report on Tuesday, June 25th. They issued a “buy” rating and a $125.00 price target on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on Walt Disney from $130.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Bank of America lowered their target price on Walt Disney from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price target on shares of Walt Disney in a research note on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.43.

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.