Patten & Patten Inc. TN Sells 934 Shares of The Walt Disney Company (NYSE:DIS)

Patten & Patten Inc. TN lowered its holdings in shares of The Walt Disney Company (NYSE:DIS) by 5.9% during the first quarter, HoldingsChannel reports. The firm owned 14,838 shares of the entertainment giant’s stock after selling 934 shares during the quarter. Patten & Patten Inc. TN’s holdings in Walt Disney were worth $1,464,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Walt Disney by 1,900.0% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,735,961 shares of the entertainment giant’s stock worth $638,699,000 after purchasing an additional 5,449,158 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Walt Disney by 21.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,867,017 shares of the entertainment giant’s stock worth $1,878,142,000 after acquiring an additional 3,016,339 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Walt Disney by 1,080.7% during the first quarter. Diamond Hill Capital Management Inc. now owns 2,816,548 shares of the entertainment giant’s stock worth $277,993,000 after acquiring an additional 2,578,004 shares during the period. GAMMA Investing LLC lifted its position in Walt Disney by 10,567.3% in the 1st quarter. GAMMA Investing LLC now owns 2,450,702 shares of the entertainment giant’s stock valued at $241,884,000 after acquiring an additional 2,427,728 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Walt Disney by 10.4% in the 4th quarter. Northern Trust Corp now owns 22,242,415 shares of the entertainment giant’s stock worth $2,476,693,000 after purchasing an additional 2,096,431 shares during the period. Institutional investors own 65.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on DIS shares. Morgan Stanley lifted their price target on Walt Disney from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. UBS Group lifted their target price on Walt Disney from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Wall Street Zen downgraded Walt Disney from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 20th. Guggenheim lifted their target price on Walt Disney from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Finally, Wolfe Research raised shares of Walt Disney from a “peer perform” rating to an “outperform” rating and set a $112.00 price target on the stock in a research report on Monday, April 21st. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Walt Disney has a consensus rating of “Moderate Buy” and a consensus price target of $128.13.

Walt Disney Stock Performance

NYSE DIS opened at $120.36 on Tuesday. The firm has a 50-day moving average price of $118.13 and a two-hundred day moving average price of $107.42. The Walt Disney Company has a 12-month low of $80.10 and a 12-month high of $124.69. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $216.38 billion, a P/E ratio of 24.61, a P/E/G ratio of 1.78 and a beta of 1.56.

Walt Disney (NYSE:DIS) last issued its earnings results on Wednesday, May 7th. The entertainment giant reported $1.45 EPS for the quarter, beating the consensus estimate of $1.21 by $0.24. Walt Disney had a net margin of 9.47% and a return on equity of 9.99%. The company had revenue of $23.62 billion during the quarter, compared to analysts’ expectations of $23.15 billion. During the same period in the previous year, the company earned $1.21 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts anticipate that The Walt Disney Company will post 5.47 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Brent Woodford sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $110.84, for a total value of $110,840.00. Following the sale, the executive vice president directly owned 46,831 shares in the company, valued at approximately $5,190,748.04. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.16% 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.