Edge Wealth Management LLC Reduces Stake in The Walt Disney Company (NYSE:DIS)

Edge Wealth Management LLC trimmed its holdings in The Walt Disney Company (NYSE:DIS) by 1.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,063 shares of the entertainment giant’s stock after selling 1,096 shares during the quarter. Walt Disney comprises approximately 2.0% of Edge Wealth Management LLC’s portfolio, making the stock its 21st biggest position. Edge Wealth Management LLC’s holdings in Walt Disney were worth $9,429,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DIS. Trian Fund Management L.P. boosted its holdings in shares of Walt Disney by 411.6% in the third quarter. Trian Fund Management L.P. now owns 32,868,307 shares of the entertainment giant’s stock valued at $2,663,976,000 after acquiring an additional 26,443,257 shares during the period. Norges Bank acquired a new position in Walt Disney in the 4th quarter valued at about $1,938,647,000. ValueAct Holdings L.P. acquired a new position in shares of Walt Disney in the fourth quarter valued at approximately $459,245,000. International Assets Investment Management LLC increased its stake in Walt Disney by 8,681.3% in the 4th quarter. International Assets Investment Management LLC now owns 3,349,709 shares of the entertainment giant’s stock valued at $302,445,000 after buying an additional 3,311,563 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Walt Disney by 34.8% during the fourth quarter. California Public Employees Retirement System now owns 6,646,336 shares of the entertainment giant’s stock worth $600,098,000 after acquiring an additional 1,716,259 shares during the period. Institutional investors and hedge funds own 65.71% of the company’s stock.

Wall Street Analyst Weigh In

DIS has been the topic of a number of analyst reports. Loop Capital lifted their price objective on Walt Disney from $113.00 to $140.00 and gave the company a “buy” rating in a report on Monday, May 6th. The Goldman Sachs Group started coverage on Walt Disney in a research note on Tuesday. They set a “buy” rating and a $125.00 price target on the stock. Daiwa Capital Markets reaffirmed a “buy” rating and issued a $133.00 price objective on shares of Walt Disney in a research note on Monday, April 1st. Wells Fargo & Company boosted their target price on Walt Disney from $128.00 to $141.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Walt Disney in a research report on Thursday, April 11th. They issued an “overweight” rating and a $140.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, Walt Disney currently has an average rating of “Moderate Buy” and a consensus target price of $126.50.

Walt Disney Stock Down 0.1 %

Shares of NYSE:DIS traded down $0.13 during midday trading on Friday, reaching $102.04. The company had a trading volume of 1,114,362 shares, compared to its average volume of 11,321,544. The stock has a market capitalization of $186.02 billion, a P/E ratio of 111.04, a PEG ratio of 1.27 and a beta of 1.40. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.75 and a quick ratio of 0.69. The Walt Disney Company has a one year low of $78.73 and a one year high of $123.74. The stock’s fifty day moving average price is $105.23 and its 200-day moving average price is $104.53.

Walt Disney (NYSE:DIS) last issued its quarterly earnings results on Tuesday, May 7th. The entertainment giant reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Walt Disney had a net margin of 1.90% and a return on equity of 8.37%. The business had revenue of $22.08 billion for the quarter, compared to analysts’ expectations of $22.12 billion. During the same quarter last year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts expect that The Walt Disney Company will post 4.75 earnings per share for the current fiscal year.

Insider Activity

In other Walt Disney news, Director James P. Gorman acquired 20,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average price of $106.03 per share, with a total value of $2,120,600.00. Following the completion of the acquisition, the director now directly owns 20,467 shares in the company, valued at approximately $2,170,116.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Walt Disney news, Director James P. Gorman bought 20,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average price of $106.03 per share, with a total value of $2,120,600.00. Following the completion of the acquisition, the director now directly owns 20,467 shares of the company’s stock, valued at approximately $2,170,116.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sonia L. Coleman sold 4,400 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $106.00, for a total value of $466,400.00. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

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.