Convergence Investment Partners LLC Cuts Holdings in The Walt Disney Company $DIS

Convergence Investment Partners LLC reduced its position in The Walt Disney Company (NYSE:DIS) by 4.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,592 shares of the entertainment giant’s stock after selling 133 shares during the period. Convergence Investment Partners LLC’s holdings in Walt Disney were worth $321,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in DIS. Kingstone Capital Partners Texas LLC purchased a new position in Walt Disney in the second quarter valued at about $4,220,599,000. Nuveen LLC purchased a new stake in shares of Walt Disney during the 1st quarter valued at about $1,353,607,000. Diamond Hill Capital Management Inc. lifted its position in Walt Disney by 1,080.7% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,816,548 shares of the entertainment giant’s stock worth $277,993,000 after acquiring an additional 2,578,004 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Walt Disney by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 155,862,361 shares of the entertainment giant’s stock worth $15,383,615,000 after acquiring an additional 2,446,087 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Walt Disney by 9.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,509,924 shares of the entertainment giant’s stock valued at $1,826,930,000 after acquiring an additional 1,642,907 shares in the last quarter. 65.71% of the stock is owned by hedge funds and other institutional investors.

Walt Disney Stock Up 0.5%

NYSE:DIS opened at $112.28 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.72. The company has a market capitalization of $201.87 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.46 and a beta of 1.54. The Walt Disney Company has a one year low of $80.10 and a one year high of $124.69. The stock has a 50-day simple moving average of $114.56 and a 200 day simple moving average of $112.13.

Walt Disney (NYSE:DIS) last released its earnings results on Wednesday, August 6th. The entertainment giant reported $1.61 EPS for the quarter, topping 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 company had revenue of $23.65 billion for the quarter, compared to the consensus estimate of $23.69 billion. During the same quarter last year, the business posted $1.39 EPS. Walt Disney’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts predict that The Walt Disney Company will post 5.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DIS. Raymond James Financial reissued a “neutral” rating on shares of Walt Disney in a research report on Monday, August 11th. Chardan Capital reissued a “buy” rating on shares of Walt Disney in a research report on Monday, August 11th. Needham & Company LLC restated a “buy” rating and set a $125.00 target price on shares of Walt Disney in a research note on Tuesday, September 23rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $141.00 target price on shares of Walt Disney in a research report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Walt Disney in a research report on Wednesday, October 8th. Nineteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.90.

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.