Pinnacle Associates Ltd. Reduces Position in The Walt Disney Company $DIS

Pinnacle Associates Ltd. cut its position in shares of The Walt Disney Company (NYSE:DIS) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,751 shares of the entertainment giant’s stock after selling 7,158 shares during the period. Pinnacle Associates Ltd.’s holdings in Walt Disney were worth $16,338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of DIS. Kondo Wealth Advisors Inc. increased its holdings in Walt Disney by 1.2% in the 2nd quarter. Kondo Wealth Advisors Inc. now owns 7,317 shares of the entertainment giant’s stock worth $904,000 after buying an additional 84 shares during the period. Cornerstone Advisory LLC lifted its holdings in Walt Disney by 1.5% during the second quarter. Cornerstone Advisory LLC now owns 5,890 shares of the entertainment giant’s stock valued at $730,000 after purchasing an additional 86 shares in the last quarter. Physician Wealth Advisors Inc. raised its stake in Walt Disney by 3.5% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 2,606 shares of the entertainment giant’s stock valued at $323,000 after purchasing an additional 87 shares during the last quarter. Childress Capital Advisors LLC lifted its holdings in Walt Disney by 3.3% in the 2nd quarter. Childress Capital Advisors LLC now owns 2,749 shares of the entertainment giant’s stock valued at $341,000 after purchasing an additional 87 shares in the last quarter. Finally, Apollon Financial LLC boosted its stake in Walt Disney by 1.5% during the 2nd quarter. Apollon Financial LLC now owns 6,086 shares of the entertainment giant’s stock worth $755,000 after purchasing an additional 87 shares during the last quarter. 65.71% of the stock is currently owned by institutional investors.

Walt Disney Stock Performance

Shares of DIS opened at $111.78 on Friday. The Walt Disney Company has a one year low of $80.10 and a one year high of $124.69. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.72 and a quick ratio of 0.66. The stock has a market cap of $200.97 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.45 and a beta of 1.54. The company has a 50-day moving average of $114.24 and a two-hundred day moving average of $112.49.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DIS. Susquehanna reaffirmed a “neutral” rating on shares of Walt Disney in a research note on Monday, August 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $141.00 target price on shares of Walt Disney in a research report on Friday, October 17th. Wall Street Zen downgraded Walt Disney from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Evercore ISI boosted their target price on Walt Disney from $134.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Finally, Barclays upped their price objective on shares of Walt Disney from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Nineteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.90.

Walt Disney 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.