Fernwood Investment Management LLC Sells 1,300 Shares of The Walt Disney Company (NYSE:DIS)

Fernwood Investment Management LLC lessened its stake in The Walt Disney Company (NYSE:DIS) by 10.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,628 shares of the entertainment giant’s stock after selling 1,300 shares during the quarter. Fernwood Investment Management LLC’s holdings in Walt Disney were worth $1,022,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DIS. Jennison Associates LLC acquired a new stake in shares of Walt Disney in the 1st quarter valued at approximately $1,490,492,000. Capital World Investors raised its holdings in Walt Disney by 3,332.4% in the first quarter. Capital World Investors now owns 6,267,593 shares of the entertainment giant’s stock worth $766,903,000 after purchasing an additional 6,084,993 shares during the period. Swedbank AB bought a new position in shares of Walt Disney during the first quarter worth $493,715,000. Farallon Capital Management LLC acquired a new position in shares of Walt Disney in the 2nd quarter valued at $355,673,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Walt Disney in the 1st quarter valued at $425,567,000. Institutional investors own 65.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on DIS shares. JPMorgan Chase & Co. reduced their target price on Walt Disney from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price objective on shares of Walt Disney in a research report on Wednesday, October 23rd. Loop Capital dropped 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. Macquarie reduced their price target on shares of Walt Disney from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, September 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective 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. Five equities research 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.05.

Insider Activity at Walt Disney

In related news, Director Calvin Mcdonald bought 11,756 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $85.06 per share, for a total transaction of $999,965.36. Following the purchase, the director now owns 22,313 shares in the company, valued at $1,897,943.78. This represents a 100.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.10% of the stock is owned by company insiders.

Walt Disney Stock Performance

Shares of DIS traded down $0.39 during midday trading on Friday, reaching $95.81. The stock had a trading volume of 7,944,869 shares, compared to its average volume of 7,666,039. The firm has a market cap of $173.76 billion, a PE ratio of 36.85, a P/E/G ratio of 1.53 and a beta of 1.40. The firm has a 50 day simple moving average of $93.16 and a 200-day simple moving average of $97.45. The Walt Disney Company has a one year low of $81.82 and a one year high of $123.74. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 0.38.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.19. Walt Disney had a return on equity of 8.64% and a net margin of 5.30%. The business had revenue of $23.20 billion during the quarter, compared to analysts’ expectations of $23.08 billion. During the same quarter last year, the company posted $1.03 earnings per share. Walt Disney’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that The Walt Disney Company will post 4.93 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.