Pinnacle Holdings LLC Sells 135 Shares of Walt Disney Co (NYSE:DIS)

Pinnacle Holdings LLC reduced its stake in Walt Disney Co (NYSE:DIS) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,449 shares of the entertainment giant’s stock after selling 135 shares during the quarter. Pinnacle Holdings LLC’s holdings in Walt Disney were worth $2,716,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in DIS. FMR LLC raised its holdings in Walt Disney by 37.2% in the 1st quarter. FMR LLC now owns 33,901,641 shares of the entertainment giant’s stock valued at $3,764,098,000 after acquiring an additional 9,190,235 shares during the period. Jennison Associates LLC raised its holdings in Walt Disney by 2,490.8% in the 2nd quarter. Jennison Associates LLC now owns 7,164,008 shares of the entertainment giant’s stock valued at $1,000,382,000 after acquiring an additional 6,887,494 shares during the period. BlackRock Inc. raised its holdings in Walt Disney by 6.5% in the 4th quarter. BlackRock Inc. now owns 92,790,946 shares of the entertainment giant’s stock valued at $10,174,527,000 after acquiring an additional 5,639,712 shares during the period. Winslow Capital Management LLC bought a new position in Walt Disney in the 2nd quarter valued at about $393,440,000. Finally, Cortland Advisers LLC bought a new position in Walt Disney in the 4th quarter valued at about $118,918,000. 68.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:DIS traded up $0.53 on Friday, reaching $138.03. 3,363,592 shares of the company’s stock were exchanged, compared to its average volume of 6,890,449. The company has a fifty day moving average of $138.14 and a 200-day moving average of $131.63. Walt Disney Co has a twelve month low of $100.35 and a twelve month high of $147.15. The company has a market capitalization of $244.61 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 4.49 and a beta of 0.97. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 0.38.

Walt Disney (NYSE:DIS) last announced its earnings results on Tuesday, August 6th. The entertainment giant reported $1.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.41). Walt Disney had a return on equity of 13.08% and a net margin of 19.02%. The business had revenue of $20.25 billion for the quarter, compared to analyst estimates of $21.40 billion. During the same quarter in the previous year, the company earned $1.87 EPS. The business’s revenue for the quarter was up 32.9% on a year-over-year basis. As a group, equities research analysts forecast that Walt Disney Co will post 6 EPS for the current fiscal year.

Several research analysts have weighed in on the stock. Citigroup reissued a “buy” rating and issued a $160.00 price target (up from $132.00) on shares of Walt Disney in a report on Thursday, June 6th. Zacks Investment Research raised shares of Walt Disney from a “strong sell” rating to a “hold” rating and set a $120.00 price target on the stock in a report on Tuesday, July 9th. Tigress Financial reissued a “buy” rating on shares of Walt Disney in a report on Monday, August 26th. Morgan Stanley set a $160.00 price target on shares of Walt Disney and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Bank of America set a $168.00 price target on shares of Walt Disney and gave the company a “buy” rating in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the company. Walt Disney has an average rating of “Buy” and an average price target of $148.22.

In related news, EVP Brent Woodford sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $144.25, for a total transaction of $288,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Zenia B. Mucha sold 49,561 shares of the stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $140.00, for a total transaction of $6,938,540.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,223 shares of company stock worth $20,885,881. Company insiders own 0.36% of the company’s stock.

About Walt Disney

The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming businesses under the ESPN, Disney, and Freeform brands; broadcast businesses, including ABC TV Network and eight owned television stations; and radio businesses.

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Institutional Ownership by Quarter for Walt Disney (NYSE:DIS)

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