PVG Asset Management Corp trimmed its stake in shares of Walt Disney Co (NYSE:DIS) by 62.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,469 shares of the entertainment giant’s stock after selling 15,618 shares during the period. Walt Disney comprises about 1.4% of PVG Asset Management Corp’s holdings, making the stock its 22nd biggest position. PVG Asset Management Corp’s holdings in Walt Disney were worth $1,322,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Centerpoint Advisors LLC raised its position in shares of Walt Disney by 276.5% during the 2nd quarter. Centerpoint Advisors LLC now owns 192 shares of the entertainment giant’s stock worth $27,000 after purchasing an additional 141 shares during the last quarter. SRS Capital Advisors Inc. purchased a new stake in Walt Disney in the 2nd quarter worth approximately $39,000. Riverview Trust Co purchased a new stake in Walt Disney in the 4th quarter worth approximately $48,000. MRA Associates USA LLC purchased a new stake in Walt Disney in the 2nd quarter worth approximately $53,000. Finally, Bay Harbor Wealth Management LLC grew its stake in Walt Disney by 94.2% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 433 shares of the entertainment giant’s stock worth $60,000 after acquiring an additional 210 shares during the period. Institutional investors own 68.41% of the company’s stock.
In other Walt Disney news, EVP Brent Woodford sold 2,200 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $146.68, for a total value of $322,696.00. Following the transaction, the executive vice president now owns 34,679 shares in the company, valued at approximately $5,086,715.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alan N. Braverman sold 94,462 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $141.18, for a total transaction of $13,336,145.16. The disclosure for this sale can be found here. Insiders have sold a total of 98,662 shares of company stock worth $13,947,341 in the last 90 days. Company insiders own 0.36% of the company’s stock.
Walt Disney (NYSE:DIS) last posted its earnings results on Tuesday, August 6th. The entertainment giant reported $1.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.76 by ($0.41). The business had revenue of $20.25 billion for the quarter, compared to analyst estimates of $21.40 billion. Walt Disney had a net margin of 19.02% and a return on equity of 13.08%. The business’s revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.87 EPS. As a group, equities research analysts anticipate that Walt Disney Co will post 6 EPS for the current fiscal year.
Several brokerages have recently issued reports on DIS. Moffett Nathanson set a $150.00 price objective on shares of Walt Disney and gave the company a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley set a $160.00 price objective on shares of Walt Disney and gave the company a “buy” rating in a research note on Friday, August 2nd. Bank of America set a $168.00 price objective on shares of Walt Disney and gave the company a “buy” rating in a research note on Monday, June 24th. Citigroup reissued a “buy” rating and set a $160.00 price objective (up from $132.00) on shares of Walt Disney in a research note on Thursday, June 6th. Finally, Zacks Investment Research raised shares of Walt Disney from a “strong sell” rating to a “hold” rating and set a $120.00 price objective for the company in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. Walt Disney presently has an average rating of “Buy” and a consensus target price of $147.21.
Walt Disney Company Profile
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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