First County Bank CT Trims Stock Position in The Walt Disney Company (NYSE:DIS)

First County Bank CT trimmed its holdings in The Walt Disney Company (NYSE:DIS) by 6.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,574 shares of the entertainment giant’s stock after selling 582 shares during the period. First County Bank CT’s holdings in Walt Disney were worth $851,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sender Co & Partners Inc. acquired a new stake in shares of Walt Disney in the second quarter worth approximately $4,425,000. Shellback Capital LP raised its stake in shares of Walt Disney by 120.0% in the 2nd quarter. Shellback Capital LP now owns 55,000 shares of the entertainment giant’s stock valued at $5,461,000 after acquiring an additional 30,000 shares during the period. Legal & General Group Plc raised its position in Walt Disney by 3.1% in the second quarter. Legal & General Group Plc now owns 14,281,047 shares of the entertainment giant’s stock valued at $1,417,958,000 after purchasing an additional 425,438 shares during the period. Marshfield Associates boosted its position in shares of Walt Disney by 0.4% in the second quarter. Marshfield Associates now owns 1,586,892 shares of the entertainment giant’s stock worth $157,563,000 after buying an additional 5,796 shares during the period. Finally, MBB Public Markets I LLC grew its stake in shares of Walt Disney by 185.1% in the second quarter. MBB Public Markets I LLC now owns 240,581 shares of the entertainment giant’s stock valued at $23,887,000 after buying an additional 156,194 shares in the last quarter. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DIS shares. The Goldman Sachs Group assumed coverage on Walt Disney in a report on Tuesday, June 25th. They issued a “buy” rating and a $125.00 price target for the company. Wells Fargo & Company lowered their price target on shares of Walt Disney from $136.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their target price on Walt Disney from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Macquarie cut their price target on Walt Disney from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, September 19th. Finally, Morgan Stanley reduced their price target on Walt Disney from $130.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.43.

Walt Disney Trading Up 1.4 %

Walt Disney stock opened at $95.20 on Friday. The Walt Disney Company has a 52-week low of $78.73 and a 52-week high of $123.74. 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 firm has a market capitalization of $173.55 billion, a price-to-earnings ratio of 103.48, a PEG ratio of 1.53 and a beta of 1.40. The firm has a 50-day moving average price of $90.39 and a two-hundred day moving average price of $101.49.

Walt Disney (NYSE:DIS) last released its quarterly earnings results on Wednesday, August 7th. The entertainment giant reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.19. The company had revenue of $23.20 billion during 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 revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 earnings per share. Sell-side analysts expect that The Walt Disney Company will post 4.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Calvin Mcdonald purchased 11,756 shares of the stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of $85.06 per share, for a total transaction of $999,965.36. Following the transaction, the director now owns 22,313 shares in the company, valued at $1,897,943.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

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.