Covea Finance Reduces Stake in The Walt Disney Company $DIS

Covea Finance decreased its stake in shares of The Walt Disney Company (NYSE:DIS) by 11.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 363,088 shares of the entertainment giant’s stock after selling 47,683 shares during the period. Walt Disney accounts for 1.7% of Covea Finance’s investment portfolio, making the stock its 18th largest position. Covea Finance’s holdings in Walt Disney were worth $45,027,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in DIS. Kingstone Capital Partners Texas LLC purchased a new position in shares of Walt Disney during the 2nd quarter valued at $4,220,599,000. Nuveen LLC purchased a new position in shares of Walt Disney during the 1st quarter valued at $1,353,607,000. Diamond Hill Capital Management Inc. grew its position in shares of 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 valued at $277,993,000 after purchasing an additional 2,578,004 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Walt Disney by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 155,862,361 shares of the entertainment giant’s stock valued at $15,383,615,000 after purchasing an additional 2,446,087 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Walt Disney by 10,567.3% in the first quarter. GAMMA Investing LLC now owns 2,450,702 shares of the entertainment giant’s stock worth $241,884,000 after acquiring an additional 2,427,728 shares in the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Walt Disney Trading Down 1.2%

NYSE:DIS opened at $112.44 on Tuesday. The company’s 50 day moving average price is $117.56 and its 200-day moving average price is $109.22. The Walt Disney Company has a 52 week low of $80.10 and a 52 week high of $124.69. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.32. The stock has a market cap of $202.16 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.65 and a beta of 1.55.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on DIS shares. Loop Capital boosted their price target on shares of Walt Disney from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Raymond James Financial reissued a “neutral” rating on shares of Walt Disney in a research note on Monday, August 11th. Citigroup boosted their price target on shares of Walt Disney from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Morgan Stanley 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 Monday, August 4th. Finally, Stephens reaffirmed a “buy” rating on shares of Walt Disney in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently 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.