Romano Brothers AND Company Reduces Stake in The Walt Disney Company (NYSE:DIS)

Romano Brothers AND Company has announced a 1.7% decrease in its holdings of The Walt Disney Company (NYSE:DIS – Free Report) during the third quarter of the year. This change was disclosed in its latest Form 13F filing with the SEC. After selling 149 shares, the firm now owns a total of 8,559 shares of the well-known entertainment company, valued at approximately $823,000 at the close of the quarter.

A variety of other hedge funds and institutional investors have also adjusted their positions in Disney shares recently. For instance, Vanguard Group Inc. increased its stake by 1.5% in the first quarter, now holding 153,769,084 shares worth around $18.82 billion after acquiring an additional 2,325,582 shares. Additionally, Bank of New York Mellon Corp raised its holdings by 10.8% during the second quarter, owning 14,883,983 shares valued at $1.48 billion after purchasing 1,449,730 shares. Similarly, Legal & General Group Plc increased its position by 3.1% in the second quarter, now owning 14,281,047 shares worth $1.42 billion after buying 425,438 shares. Jennison Associates LLC initiated a new position valued at approximately $1.49 billion in the first quarter. Lastly, Price T Rowe Associates Inc. MD heightened its position by 2.5% during the same quarter and now owns 12,040,297 shares worth about $1.47 billion. Overall, hedge funds and institutional investors hold about 65.71% of Disney's stock.

Analyst Ratings Update

Several analysts have recently provided updates on the stock's ratings. Wells Fargo & Company reduced its target price on Walt Disney shares from $136.00 to $116.00 and maintained an “overweight” rating. Loop Capital also re-evaluated its target price, lowering it from $139.00 to $130.00, while rating the stock as a “buy.” Furthermore, JPMorgan Chase & Co. decreased its price target from $135.00 to $125.00. UBS Group set a new price objective at $120.00, down from $130.00, maintaining a “buy” rating on the stock. Lastly, Deutsche Bank Aktiengesellschaft lowered its target price from $130.00 to $115.00 while rating the shares as a “buy.” In total, five analysts have assigned a hold rating, seventeen have rated the stock as a buy, and one has given it a strong buy rating. According to MarketBeat.com, Disney holds an average rating of “Moderate Buy” with a corresponding average target price of $118.05.

Walt Disney’s Stock Performance

The Walt Disney Company's stock price opened at $95.43 recently. The company's market capitalization stands at $173.97 billion, with a price-to-earnings ratio of 103.73 and a price-to-earnings-growth ratio of 1.49. The stock has a beta value of 1.40. The fifty-day simple moving average is noted at $92.36, while the 200-day average is at $98.44. Over the past year, Disney's stock has seen lows of $79.23 and highs of $123.74. Financial metrics include a quick ratio of 0.66, a current ratio of 0.72, and a debt-to-equity ratio of 0.38.

Walt Disney (NYSE:DIS - Get Free Report) released its quarterly earnings report on August 7th, revealing an earnings per share (EPS) of $1.39, which outperformed the consensus estimate of $1.20 by $0.19. The company's return on equity was reported at 8.64%, and it had a net margin of 5.30%. The revenue generated during this quarter amounted to $23.20 billion, exceeding analyst expectations of $23.08 billion. This reflects an increase of 3.9% compared to the same quarter last year, where the company had an earnings of $1.03 EPS. Analysts predict that The Walt Disney Company will report an EPS of 4.92 for the current fiscal year.

Insider Activity

Additionally, in recent insider trading news, Director Calvin Mcdonald acquired 11,756 shares in a transaction on August 8th, with an average purchase price of $85.06 per share, totaling approximately $999,965.36. Following this purchase, the director now possesses a total of 22,313 shares, representing an estimated value of $1.90 million, marking a 100% increase in ownership. This transaction has been filed with the Securities and Exchange Commission for public access. Currently, insiders hold only 0.10% of the company’s stock.

About Walt Disney

The Walt Disney Company functions as an entertainment entity on a global scale. It operates through three main segments: Entertainment, Sports, and Experiences. The company is heavily involved in producing and distributing film and television content, including video streaming under its various brands such as ABC, Disney, Freeform, FX, National Geographic, and others. Disney also creates original content through its studios, including Marvel, Pixar, and Lucasfilm, among others.

Disney, Stocks, Investors