Cullinan Associates Inc. Decreases Stock Holdings in The Walt Disney Company (NYSE:DIS)

Cullinan Associates Inc. lessened its holdings in shares of The Walt Disney Company (NYSE:DIS - Free Report) by 14.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,157 shares of the entertainment giant's stock after selling 13,317 shares during the period. Cullinan Associates Inc.'s holdings in Walt Disney were worth $7,619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC bought a new position in shares of Walt Disney during the first quarter valued at approximately $1,490,492,000. Capital World Investors increased its position in Walt Disney by 3,332.4% during the 1st quarter. Capital World Investors now owns 6,267,593 shares of the entertainment giant's stock valued at $766,903,000 after buying an additional 6,084,993 shares in the last quarter. Swedbank AB purchased a new position in Walt Disney during the first quarter valued at $493,715,000. Farallon Capital Management LLC purchased a new position in Walt Disney during the second quarter valued at $355,673,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in Walt Disney in the first quarter worth $425,567,000. 65.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Calvin Mcdonald bought 11,756 shares of the stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $85.06 per share, with a total value of $999,965.36. Following the completion of the acquisition, the director now owns 22,313 shares of the company's stock, valued at $1,897,943.78. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on Walt Disney from $136.00 to $116.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. Moffett Nathanson dropped their target price on shares of Walt Disney from $130.00 to $125.00 and set a "buy" rating on the stock in a research note on Tuesday, July 2nd. Evercore ISI cut their price target on shares of Walt Disney from $128.00 to $105.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Walt Disney in a research report on Wednesday. Finally, Bank of America cut their target price on Walt Disney from $145.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Five equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.05.

Walt Disney Price Performance

Shares of DIS traded down $0.37 during mid-day trading on Friday, reaching $95.03. The stock had a trading volume of 7,033,009 shares, compared to its average volume of 10,864,460. The business has a fifty day moving average of $92.49 and a 200 day moving average of $98.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.66 and a current ratio of 0.72. The firm has a market cap of $173.24 billion, a price-to-earnings ratio of 105.03, a PEG ratio of 1.49 and a beta of 1.40. The Walt Disney Company has a 12 month low of $79.23 and a 12 month high of $123.74.

Walt Disney (NYSE:DIS - Get Free Report) last issued its quarterly 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. Walt Disney had a return on equity of 8.64% and a net margin of 5.30%. The business had revenue of $23.20 billion during the quarter, compared to analyst estimates of $23.08 billion. During the same quarter in the prior year, the business posted $1.03 EPS. Walt Disney's revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts predict that The Walt Disney Company will post 4.92 EPS for the current year.

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.