Patten Group Inc. Trims Stock Holdings in The Walt Disney Company (NYSE:DIS)

Patten Group Inc. reduced its stake in The Walt Disney Company (NYSE:DIS) by 19.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,948 shares of the entertainment giant’s stock after selling 937 shares during the quarter. Patten Group Inc.’s holdings in Walt Disney were worth $380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mcdonald Partners LLC lifted its position in shares of Walt Disney by 0.5% in the first quarter. Mcdonald Partners LLC now owns 17,975 shares of the entertainment giant’s stock valued at $2,199,000 after acquiring an additional 88 shares in the last quarter. Sendero Wealth Management LLC lifted its position in Walt Disney by 2.0% during the first quarter. Sendero Wealth Management LLC now owns 4,649 shares of the entertainment giant’s stock worth $569,000 after buying an additional 89 shares during the period. Pflug Koory LLC lifted its position in Walt Disney by 1.0% during the first quarter. Pflug Koory LLC now owns 8,993 shares of the entertainment giant’s stock worth $1,100,000 after buying an additional 91 shares during the period. Regent Peak Wealth Advisors LLC lifted its position in Walt Disney by 3.5% during the first quarter. Regent Peak Wealth Advisors LLC now owns 2,801 shares of the entertainment giant’s stock worth $343,000 after buying an additional 94 shares during the period. Finally, McLean Asset Management Corp lifted its position in Walt Disney by 3.2% during the first quarter. McLean Asset Management Corp now owns 3,137 shares of the entertainment giant’s stock worth $370,000 after buying an additional 96 shares during the period. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DIS has been the topic of several recent analyst reports. Loop Capital reduced their target price on Walt Disney from $139.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Seaport Res Ptn upgraded Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Macquarie dropped their price target on Walt Disney from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, September 19th. Bank of America dropped their price target on Walt Disney from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Wells Fargo & Company dropped their price target on Walt Disney from $136.00 to $116.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Walt Disney currently has an average rating of “Moderate Buy” and an average target price of $119.20.

Walt Disney Stock Down 0.7 %

Shares of DIS stock opened at $92.99 on Friday. The Walt Disney Company has a 1 year low of $79.23 and a 1 year high of $123.74. The stock has a market cap of $169.52 billion, a PE ratio of 101.08, a price-to-earnings-growth ratio of 1.53 and a beta of 1.40. The business’s fifty day moving average is $90.76 and its 200-day moving average is $100.16. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.66 and a current ratio of 0.72.

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, topping analysts’ consensus estimates of $1.20 by $0.19. The business had revenue of $23.20 billion for the quarter, compared to analysts’ expectations of $23.08 billion. Walt Disney had a return on equity of 8.64% and a net margin of 5.30%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. Equities analysts expect that The Walt Disney Company will post 4.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Calvin Mcdonald bought 11,756 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $85.06 per share, for a total transaction of $999,965.36. Following the acquisition, the director now directly owns 22,313 shares of the company’s stock, valued at $1,897,943.78. The trade was a 100.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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.