Pinnacle West Asset Management Inc. Sells 175 Shares of The Walt Disney Company (NYSE:DIS)

Pinnacle West Asset Management Inc. cut its holdings in The Walt Disney Company (NYSE:DIS) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,660 shares of the entertainment giant’s stock after selling 175 shares during the quarter. Walt Disney comprises 1.1% of Pinnacle West Asset Management Inc.’s portfolio, making the stock its 29th largest position. Pinnacle West Asset Management Inc.’s holdings in Walt Disney were worth $1,456,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. boosted its position in shares of Walt Disney by 84.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,000,267 shares of the entertainment giant’s stock worth $244,754,000 after purchasing an additional 916,772 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Walt Disney during the first quarter worth $1,490,492,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Walt Disney by 4.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 556,658 shares of the entertainment giant’s stock worth $68,113,000 after purchasing an additional 22,568 shares in the last quarter. Rheos Capital Works Inc. boosted its position in shares of Walt Disney by 41.3% during the first quarter. Rheos Capital Works Inc. now owns 175,900 shares of the entertainment giant’s stock worth $21,523,000 after purchasing an additional 51,400 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Walt Disney by 555.9% during the first quarter. Nordea Investment Management AB now owns 956,788 shares of the entertainment giant’s stock worth $117,599,000 after purchasing an additional 810,923 shares in the last quarter. 65.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

DIS has been the subject of a number of research analyst reports. Needham & Company LLC reduced their target price on shares of Walt Disney from $145.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Moffett Nathanson reduced their target price on shares of Walt Disney from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Macquarie reduced their target price on shares of Walt Disney from $107.00 to $94.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. The Goldman Sachs Group initiated coverage on shares of Walt Disney in a research note on Tuesday, June 25th. They issued a “buy” rating and a $125.00 target price for the company. Finally, Wells Fargo & Company reduced their target price on shares of Walt Disney from $136.00 to $116.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, Walt Disney has a consensus rating of “Moderate Buy” and a consensus target price of $117.95.

Walt Disney Stock Down 0.8 %

Shares of DIS stock opened at $87.94 on Monday. 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 firm’s 50-day moving average is $91.98 and its 200-day moving average is $103.19. The stock has a market cap of $159.49 billion, a price-to-earnings ratio of 95.59, a PEG ratio of 1.31 and a beta of 1.40. The Walt Disney Company has a 52-week low of $78.73 and a 52-week high of $123.74.

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

Insider Buying and Selling at Walt Disney

In related news, Director Calvin Mcdonald purchased 11,756 shares of the stock in a transaction on Thursday, August 8th. The shares were purchased at an average cost of $85.06 per share, with a total value of $999,965.36. Following the acquisition, the director now directly owns 22,313 shares in the company, valued at $1,897,943.78. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Walt Disney 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.