Merit Financial Group LLC Sells 1,612 Shares of The Walt Disney Company $DIS

Merit Financial Group LLC lowered its position in The Walt Disney Company (NYSE:DIS) by 2.8% in the 2nd quarter, Holdings Channel reports. The fund owned 55,560 shares of the entertainment giant’s stock after selling 1,612 shares during the quarter. Merit Financial Group LLC’s holdings in Walt Disney were worth $6,890,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Keudell Morrison Wealth Management grew its stake in Walt Disney by 11.3% in the second quarter. Keudell Morrison Wealth Management now owns 4,094 shares of the entertainment giant’s stock worth $508,000 after purchasing an additional 415 shares during the period. Beacon Financial Advisory LLC boosted its holdings in shares of Walt Disney by 18.7% during the 2nd quarter. Beacon Financial Advisory LLC now owns 10,695 shares of the entertainment giant’s stock valued at $1,326,000 after buying an additional 1,688 shares in the last quarter. Marietta Wealth Management LLC grew its position in shares of Walt Disney by 3.6% in the 2nd quarter. Marietta Wealth Management LLC now owns 50,348 shares of the entertainment giant’s stock worth $6,244,000 after buying an additional 1,763 shares during the period. Simplicity Wealth LLC grew its position in shares of Walt Disney by 92.5% in the 2nd quarter. Simplicity Wealth LLC now owns 32,996 shares of the entertainment giant’s stock worth $4,092,000 after buying an additional 15,858 shares during the period. Finally, MBL Wealth LLC increased its stake in shares of Walt Disney by 12.7% in the 2nd quarter. MBL Wealth LLC now owns 2,576 shares of the entertainment giant’s stock worth $319,000 after acquiring an additional 291 shares in the last quarter. 65.71% of the stock is currently owned by institutional investors.

Walt Disney Stock Performance

Shares of DIS opened at $112.49 on Monday. The company has a market cap of $202.25 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 1.48 and a beta of 1.54. The business’s fifty day simple moving average is $116.12 and its two-hundred day simple moving average is $110.10. The Walt Disney Company has a 12 month low of $80.10 and a 12 month high of $124.69. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32.

Walt Disney (NYSE:DIS) last announced its quarterly earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.16. Walt Disney had a return on equity of 9.67% and a net margin of 12.22%.The firm had revenue of $23.65 billion for the quarter, compared to the consensus estimate of $23.69 billion. During the same period in the prior year, the company posted $1.39 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts anticipate that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Evercore ISI boosted their price objective on shares of Walt Disney from $134.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. UBS Group upped their price target on Walt Disney from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Raymond James Financial reiterated a “neutral” rating on shares of Walt Disney in a research note on Monday, August 11th. Jefferies Financial Group downgraded Walt Disney from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Finally, Stephens restated a “buy” rating on shares of Walt Disney in a report on Monday, August 11th. Nineteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.18.

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.