Convergence Financial LLC Trims Holdings in The Walt Disney Company (NYSE:DIS)

Convergence Financial LLC trimmed its position in The Walt Disney Company (NYSE:DIS) by 16.8% in the 3rd quarter, HoldingsChannel reports. The fund 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC boosted its stake in Walt Disney by 3.5% in the 1st quarter. Regent Peak Wealth Advisors LLC now owns 2,801 shares of the entertainment giant’s stock worth $343,000 after purchasing an additional 94 shares during the period. Horizon Bancorp Inc. IN boosted its stake in Walt Disney by 6.1% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,674 shares of the entertainment giant’s stock worth $205,000 after purchasing an additional 96 shares during the period. KFA Private Wealth Group LLC boosted its stake in Walt Disney by 4.1% in the 1st quarter. KFA Private Wealth Group LLC now owns 2,691 shares of the entertainment giant’s stock worth $329,000 after purchasing an additional 106 shares during the period. Transcendent Capital Group LLC boosted its stake in Walt Disney by 1.4% in the 1st quarter. Transcendent Capital Group LLC now owns 7,912 shares of the entertainment giant’s stock worth $968,000 after purchasing an additional 108 shares during the period. Finally, ADE LLC boosted its stake in Walt Disney by 4.6% in the 2nd quarter. ADE LLC now owns 2,509 shares of the entertainment giant’s stock worth $249,000 after purchasing an additional 110 shares during the period. 65.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Calvin Mcdonald purchased 11,756 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $85.06 per share, for a total transaction of $999,965.36. Following the completion of the purchase, the director now owns 22,313 shares in the company, valued at approximately $1,897,943.78. This represents a 100.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.10% of the company’s stock.

Walt Disney Stock Performance

DIS stock opened at $95.03 on Friday. The firm has a market cap of $173.24 billion, a price-to-earnings ratio of 103.29, a PEG ratio of 1.49 and a beta of 1.40. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 0.38. The Walt Disney Company has a twelve month low of $79.23 and a twelve month high of $123.74. The business’s fifty day simple moving average is $92.61 and its two-hundred day simple moving average is $98.26.

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

Analyst Ratings Changes

Several research analysts have weighed in on DIS shares. JPMorgan Chase & Co. dropped their price target on Walt Disney from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Macquarie lowered their target price on Walt Disney from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, September 19th. Evercore ISI lowered their target price on Walt Disney from $128.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Bank of America lowered their target price on Walt Disney from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Raymond James reiterated a “market perform” rating on shares of Walt Disney in a research report on Tuesday, October 1st. 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $118.05.

About Walt Disney

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.