Westchester Capital Management Inc. Sells 1,196 Shares of The Walt Disney Company (NYSE:DIS)

Westchester Capital Management Inc. cut its stake in The Walt Disney Company (NYSE:DIS) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,764 shares of the entertainment giant’s stock after selling 1,196 shares during the quarter. Walt Disney accounts for 1.4% of Westchester Capital Management Inc.’s holdings, making the stock its 23rd biggest position. Westchester Capital Management Inc.’s holdings in Walt Disney were worth $5,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of DIS. Jennison Associates LLC increased its stake in shares of Walt Disney by 23.4% in the 4th quarter. Jennison Associates LLC now owns 19,197,463 shares of the entertainment giant’s stock valued at $2,137,637,000 after acquiring an additional 3,636,742 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Walt Disney during the 4th quarter worth approximately $358,151,000. FMR LLC increased its stake in Walt Disney by 8.7% during the 3rd quarter. FMR LLC now owns 34,416,668 shares of the entertainment giant’s stock worth $3,310,539,000 after purchasing an additional 2,765,389 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Walt Disney by 15.5% during the 4th quarter. Bank of New York Mellon Corp now owns 17,104,295 shares of the entertainment giant’s stock worth $1,904,563,000 after purchasing an additional 2,300,912 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Walt Disney by 112.0% during the 3rd quarter. Janus Henderson Group PLC now owns 4,142,991 shares of the entertainment giant’s stock worth $398,508,000 after purchasing an additional 2,188,610 shares in the last quarter. 65.71% of the stock is owned by institutional investors.

Walt Disney Stock Down 4.9 %

DIS opened at $98.00 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36. The stock has a market cap of $177.17 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41. The stock’s fifty day simple moving average is $109.88 and its 200 day simple moving average is $104.30. The Walt Disney Company has a 1-year low of $83.91 and a 1-year high of $123.74.

Walt Disney (NYSE:DIS) last posted its quarterly earnings data on Wednesday, February 5th. The entertainment giant reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.32. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. As a group, research analysts expect that The Walt Disney Company will post 5.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

DIS has been the subject of a number of research reports. Guggenheim increased their target price on Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Morgan Stanley increased their target price on Walt Disney from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Macquarie reissued a “neutral” rating and set a $110.00 target price on shares of Walt Disney in a research note on Monday, January 6th. Wells Fargo & Company upped their price target on Walt Disney from $116.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Citigroup reaffirmed a “buy” rating and set a $125.00 price target on shares of Walt Disney in a research report on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.64.

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.