The Concannon Wealth Management LLC cuts its investment of stake in The Walt Disney Co. (DIS)

The Concannon Wealth Management LLC cuts its investment of stake in The Walt Disney Co. (DIS)

Concannon Wealth Management LLC reduced its position in The Walt Disney Co. (NYSE:DIS) by 7.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,896 shares of the entertainment giant’s stock after selling 4,031 shares during the period. The Walt Disney makes up 5.0% of Concannon Wealth Management LLC’s holdings, making the stock its 7th largest position. Concannon Wealth Management LLC’s holdings in The Walt Disney were worth $4,881,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the company. Bancorpsouth Inc. raised its position in shares of The Walt Disney by 7.8% in the first quarter. Bancorpsouth Inc. now owns 9,555 shares of the entertainment giant’s stock worth $948,000 after buying an additional 692 shares during the last quarter. Saybrook Capital NC raised its position in shares of The Walt Disney by 1.7% in the first quarter. Saybrook Capital NC now owns 8,138 shares of the entertainment giant’s stock worth $808,000 after buying an additional 138 shares during the last quarter. Willingdon Wealth Management raised its position in shares of The Walt Disney by 12.0% in the first quarter. Willingdon Wealth Management now owns 33,159 shares of the entertainment giant’s stock worth $3,293,000 after buying an additional 3,551 shares during the last quarter. RMB Capital Management LLC raised its position in shares of The Walt Disney by 18.6% in the first quarter. RMB Capital Management LLC now owns 4,293 shares of the entertainment giant’s stock worth $427,000 after buying an additional 672 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its position in shares of The Walt Disney by 16.9% in the first quarter. Rehmann Capital Advisory Group now owns 17,435 shares of the entertainment giant’s stock worth $1,732,000 after buying an additional 2,516 shares during the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Shares of The Walt Disney Co. (NYSE:DIS) traded down 0.18% during mid-day trading on Friday, reaching $93.85. The company’s stock had a trading volume of 7,309,117 shares. The stock has a market capitalization of $150.83 billion, a price-to-earnings ratio of 16.87 and a beta of 1.25. The company’s 50-day moving average is $92.47 and its 200-day moving average is $97.13. The Walt Disney Co. has a 52 week low of $86.25 and a 52 week high of $120.65.

The Walt Disney (NYSE:DIS) last released its quarterly earnings results on Tuesday, August 9th. The entertainment giant reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.01. The Walt Disney had a return on equity of 19.98% and a net margin of 16.48%. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.16 billion. During the same period in the prior year, the firm earned $1.45 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. Equities analysts predict that The Walt Disney Co. will post $5.77 EPS for the current year.

DIS has been the subject of a number of research reports. Morgan Stanley reissued a “hold” rating on shares of The Walt Disney in a research note on Sunday, July 17th. Citigroup Inc. lowered their price objective on The Walt Disney from $120.00 to $117.00 and set a “buy” rating for the company in a research note on Thursday, August 11th. Hilliard Lyons raised The Walt Disney to a “buy” rating in a research note on Thursday, August 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $118.00 price objective on shares of The Walt Disney in a research note on Saturday, August 13th. Finally, Vetr raised The Walt Disney from a “buy” rating to a “strong-buy” rating and set a $106.81 price objective for the company in a research note on Monday, August 29th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $109.21.

The Walt Disney Company Profile

The Walt Disney Company is a diversified entertainment company. The Company’s business segments include Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Interactive. The Media Networks segment includes cable and broadcast television networks, television production operations, television distribution, domestic television stations, and radio networks and stations.

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