Meritage Portfolio Management Lowers Stock Holdings in The Walt Disney Company $DIS

Meritage Portfolio Management reduced its position in The Walt Disney Company (NYSE:DIS) by 10.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,510 shares of the entertainment giant’s stock after selling 300 shares during the period. Meritage Portfolio Management’s holdings in Walt Disney were worth $311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DIS. Brighton Jones LLC grew its stake in shares of Walt Disney by 7.7% during the 4th quarter. Brighton Jones LLC now owns 26,767 shares of the entertainment giant’s stock valued at $2,980,000 after buying an additional 1,904 shares during the period. GAMMA Investing LLC grew its stake in shares of Walt Disney by 8.1% during the 1st quarter. GAMMA Investing LLC now owns 24,830 shares of the entertainment giant’s stock valued at $2,451,000 after buying an additional 1,856 shares during the period. Ritholtz Wealth Management grew its stake in shares of Walt Disney by 3.8% during the 1st quarter. Ritholtz Wealth Management now owns 23,964 shares of the entertainment giant’s stock valued at $2,365,000 after buying an additional 887 shares during the period. Sound Income Strategies LLC grew its stake in shares of Walt Disney by 5.6% during the 1st quarter. Sound Income Strategies LLC now owns 4,291 shares of the entertainment giant’s stock valued at $424,000 after buying an additional 226 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Walt Disney by 4.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 84,265 shares of the entertainment giant’s stock valued at $8,317,000 after buying an additional 3,750 shares during the period. 65.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on DIS shares. JPMorgan Chase & Co. boosted their price objective on shares of Walt Disney from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Morgan Stanley lifted their target price on shares of Walt Disney from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Guggenheim lifted their target price on shares of Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a report on Friday, June 27th. Evercore ISI lifted their target price on shares of Walt Disney from $134.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, August 4th. Finally, Barclays lifted their target price on shares of Walt Disney from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, July 9th. Nineteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Walt Disney has an average rating of “Moderate Buy” and an average target price of $131.18.

Walt Disney Stock Performance

Shares of DIS stock opened at $110.32 on Tuesday. The Walt Disney Company has a 12 month low of $80.10 and a 12 month 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 firm has a market capitalization of $198.35 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.43 and a beta of 1.54. The company’s fifty day moving average price is $115.18 and its two-hundred day moving average price is $110.57.

Walt Disney (NYSE:DIS) last issued its quarterly earnings data 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 net margin of 12.22% and a return on equity of 9.67%. The firm had revenue of $23.65 billion for the quarter, compared to analyst estimates of $23.69 billion. During the same quarter in the previous year, the business posted $1.39 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts anticipate that The Walt Disney Company will post 5.47 earnings per share for the current fiscal year.

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.