ZRC Wealth Management LLC Sells 1,051 Shares of The Walt Disney Company (NYSE:DIS)

ZRC Wealth Management LLC reduced its position in The Walt Disney Company (NYSE:DIS) by 27.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,769 shares of the entertainment giant’s stock after selling 1,051 shares during the period. ZRC Wealth Management LLC’s holdings in Walt Disney were worth $339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Walt Disney during the fourth quarter worth $1,938,647,000. ValueAct Holdings L.P. acquired a new position in shares of Walt Disney during the 4th quarter worth approximately $459,245,000. International Assets Investment Management LLC raised its position in Walt Disney by 8,681.3% during the fourth quarter. International Assets Investment Management LLC now owns 3,349,709 shares of the entertainment giant’s stock worth $302,445,000 after acquiring an additional 3,311,563 shares during the period. 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 purchasing an additional 1,716,259 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Walt Disney by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 151,443,502 shares of the entertainment giant’s stock valued at $13,673,834,000 after buying an additional 1,555,748 shares in the last quarter. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on DIS shares. Argus boosted their price target on Walt Disney from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company increased their target price on shares of Walt Disney from $128.00 to $141.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Raymond James upped their price objective on shares of Walt Disney from $112.00 to $128.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Barclays dropped their target price on shares of Walt Disney from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Finally, Redburn Atlantic upgraded Walt Disney from a “sell” rating to a “neutral” rating and set a $100.00 target price for the company in a report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $126.44.

Walt Disney Stock Performance

DIS traded up $0.62 on Thursday, reaching $98.61. The company had a trading volume of 5,029,969 shares, compared to its average volume of 9,798,412. The stock has a 50-day moving average price of $103.86 and a 200-day moving average price of $104.76. The stock has a market capitalization of $179.77 billion, a PE ratio of 107.19, a P/E/G ratio of 1.22 and a beta of 1.40. The company has a quick ratio of 0.69, a current ratio of 0.75 and a debt-to-equity ratio of 0.38. The Walt Disney Company has a 1 year low of $78.73 and a 1 year high of $123.74.

Walt Disney (NYSE:DIS) last announced its earnings results on Tuesday, May 7th. The entertainment giant reported $1.21 EPS for the quarter, beating analysts’ consensus estimates 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. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. As a group, research analysts forecast that The Walt Disney Company will post 4.75 EPS for the current fiscal year.

Insiders Place Their Bets

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

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.