New World Advisors LLC has significantly reduced its stake in The Walt Disney Company (NYSE:DIS) by a staggering 49.6% during the second quarter of 2023. According to a recent report from HoldingsChannel.com, the firm now holds 2,394 shares after selling 2,357 shares during this period. This adjustment brings the total value of New World Advisors’ holdings in Disney to approximately $297,000, as per its latest filing with the U.S. Securities and Exchange Commission (SEC).
Other institutional investors have also made notable changes to their positions in Disney shares. Kondo Wealth Advisors Inc. increased its stake by 1.2%, now owning 7,317 shares valued at $904,000 after acquiring an additional 84 shares in the last quarter. Similarly, Cornerstone Advisory LLC raised its holdings by 1.5%, bringing its total to 5,890 shares worth $730,000 after buying 86 shares.
Physician Wealth Advisors Inc. upped its position by 3.5%, now holding 2,606 shares valued at $323,000 following the purchase of 87 shares. Childress Capital Advisors LLC also boosted its stake by 3.3%, resulting in ownership of 2,749 shares valued at $341,000. Lastly, Apollon Financial LLC increased its position by 1.5%, now holding 6,086 shares worth $755,000 after acquiring another 87 shares. Overall, institutional investors and hedge funds control approximately 65.71% of Disney’s stock.
Analyst Ratings and Market Performance
Disney has been the focus of numerous research reports recently. Weiss Ratings reaffirmed a “hold (c+)” rating, while Morgan Stanley raised its price target for Disney from $120.00 to $140.00, giving the company an “overweight” rating in a note released on August 4, 2023. In contrast, Wells Fargo & Company lowered their price target from $159.00 to $152.00, maintaining an “overweight” rating in a report dated November 14, 2023. Cowen reiterated a “hold” rating on the stock on the same day.
JPMorgan Chase & Co. also increased its price target for Disney from $130.00 to $138.00, assigning the stock an “overweight” rating. Currently, 18 analysts have rated Disney’s stock as a “Buy,” eight have issued a “Hold” rating, and one has assigned a “Sell” rating. According to MarketBeat, Disney holds an average rating of “Moderate Buy” with a consensus target price of $134.41.
As of Friday, shares of Disney opened at $104.15. The company’s fifty-day moving average price stands at $111.56, with a 200-day moving average price of $114.87. Disney’s market capitalization is approximately $185.94 billion, with a price-to-earnings (P/E) ratio of 16.32. The firm has a debt-to-equity ratio of 0.32, a current ratio of 0.72, and a quick ratio of 0.66. Over the past year, Disney’s stock has seen a low of $80.10 and a high of $124.69.
Earnings Report and Future Projections
Disney recently announced its earnings results on November 13, 2023, reporting earnings per share (EPS) of $1.11, surpassing the consensus estimate of $1.03 by $0.08. The company achieved a net margin of 12.22% and a return on equity of 9.67%. Revenue for the quarter reached $22.46 billion, slightly below analyst expectations of $22.78 billion. This marks a decrease of 0.5% in revenue compared to the same period last year when the firm earned $1.14 EPS. Analysts predict that Disney will post an EPS of $5.47 for the current fiscal year.
In addition to financial performance, Disney has declared a dividend of $0.75 per share, set to be paid on July 22, 2023, to stockholders of record as of June 30, 2023. This dividend represents a yield of 139.0% and a payout ratio of 21.87%.
The Walt Disney Company operates as a global entertainment enterprise, segmented into three main divisions: Entertainment, Sports, and Experiences. It produces and distributes content under various well-known brands, including ABC, Disney, Freeform, and National Geographic, among others.
For those interested in tracking Disney’s stock performance and changes from institutional investors, HoldingsChannel.com provides the latest 13F filings and insider trades for The Walt Disney Company (NYSE:DIS). Subscribers can also receive a daily summary of the latest news and analysts’ ratings through MarketBeat’s free email newsletter.
