Convergence Financial LLC Lowers Stock Position in The Walt Disney Company (NYSE:DIS)

Convergence Financial LLC reduced its stake in The Walt Disney Company (NYSE:DIS) by 16.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,970 shares of the entertainment giant’s stock after selling 1,202 shares during the quarter. Convergence Financial LLC’s holdings in Walt Disney were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of DIS. Jennison Associates LLC bought a new position in Walt Disney during the first quarter valued at approximately $1,490,492,000. Capital World Investors grew its position in Walt Disney by 3,332.4% during the first quarter. Capital World Investors now owns 6,267,593 shares of the entertainment giant’s stock valued at $766,903,000 after acquiring an additional 6,084,993 shares during the last quarter. Swedbank AB bought a new position in Walt Disney during the first quarter valued at approximately $493,715,000. Farallon Capital Management LLC bought a new position in Walt Disney during the second quarter valued at approximately $355,673,000. Finally, Ontario Teachers Pension Plan Board bought a new position in Walt Disney during the first quarter valued at approximately $425,567,000. 65.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DIS shares. Evercore ISI reduced their price target on shares of Walt Disney from $128.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Loop Capital cut their target price on shares of Walt Disney from $139.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Barclays cut their target price on shares of Walt Disney from $130.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Walt Disney from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, UBS Group cut their target price on shares of Walt Disney from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.05.

Insider Activity

In other Walt Disney news, Director Calvin Mcdonald purchased 11,756 shares of Walt Disney stock in a transaction dated Thursday, August 8th. The stock was purchased at an average price of $85.06 per share, with a total value of $999,965.36. Following the transaction, the director now directly owns 22,313 shares of the company’s stock, valued at $1,897,943.78. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.10% of the company’s stock.

Walt Disney Price Performance

DIS opened at $95.03 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.66 and a current ratio of 0.72. The stock has a market capitalization of $173.24 billion, a P/E ratio of 103.29, a P/E/G ratio of 1.49 and a beta of 1.40. The company’s 50-day simple moving average is $92.61 and its two-hundred day simple moving average is $98.26. The Walt Disney Company has a 52-week low of $79.23 and a 52-week high of $123.74.

Walt Disney (NYSE:DIS) last posted its earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.19. Walt Disney had a net margin of 5.30% and a return on equity of 8.64%. The business had revenue of $23.20 billion for the quarter, compared to analysts’ expectations of $23.08 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts predict that The Walt Disney Company will post 4.92 EPS for the current 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.