Romano Brothers AND Company Reduces Stake in The Walt Disney Company

Romano Brothers AND Company has reduced its investment in The Walt Disney Company (NYSE:DIS – Free Report) by 1.7% during the third quarter, as indicated by their recent Form 13F filing with the SEC. After selling 149 shares, the firm now owns a total of 8,559 shares in the renowned entertainment company, which amounts to a value of approximately $823,000 at the end of the last quarter.

In addition to Romano Brothers AND Company, other institutional investors and hedge funds have also adjusted their stakes in Disney. For instance, Vanguard Group Inc. increased its ownership by 1.5% during the first quarter. They now hold 153,769,084 shares, worth around $18.82 billion, after adding 2,325,582 shares in the latest quarter. Similarly, Bank of New York Mellon Corp raised its holdings by 10.8% in the second quarter, resulting in ownership of 14,883,983 shares, valued at approximately $1.48 billion after buying 1,449,730 shares.

Legal & General Group Plc upped its stake by 3.1% in the same quarter, now owning 14,281,047 shares, which are worth around $1.42 billion after acquiring an additional 425,438 shares. Jennison Associates LLC also entered the scene, securing a new position in Disney valued at $1.49 billion in the first quarter. Lastly, Price T Rowe Associates Inc. MD increased its position by 2.5% during the first quarter, now holding 12,040,297 shares valued at approximately $1.47 billion after purchasing 293,482 additional shares. Collectively, these hedge funds and institutional investors own 65.71% of the company's stock.

Recent Analyst Ratings

Recent analysis from various financial institutions has provided mixed reviews regarding Disney's stock. Wells Fargo & Company revised their target price from $136.00 to $116.00 while maintaining an "overweight" rating on the shares as of August 8. Loop Capital lowered their goal for Disney from $139.00 to $130.00, also assigning a "buy" rating based on their assessment published on July 30. JPMorgan Chase & Co. adjusted their price target down from $135.00 to $125.00, keeping an "overweight" rating.

UBS Group similarly lowered their target from $130.00 to $120.00 and reiterated a "buy" recommendation on August 8. Deutsche Bank Aktiengesellschaft also cut their target from $130.00 to $115.00 and maintained a "buy" rating. Overall, out of the analysts covering Disney, five have given it a hold rating, seventeen have specified a buy rating, and one has issued a strong buy rating. The average recommendation stands at "Moderate Buy," with a mean target price of $118.05, according to MarketBeat.com.

Walt Disney Stock Performance Overview

The stock of Walt Disney opened at $95.43 on Friday. It boasts a market capitalization of $173.97 billion, along with a price-to-earnings (P/E) ratio of 103.73 and a price-to-earnings-growth (PEG) ratio of 1.49. Disney's stock has demonstrated recent stability with a fifty-day simple moving average of $92.36 and a two-hundred-day moving average of $98.44. Over the past year, Disney's shares have fluctuated, reaching a low of $79.23 and a high of $123.74. Key financial ratios include a quick ratio of 0.66, a current ratio of 0.72, and a debt-to-equity ratio of 0.38.

The company most recently reported its quarterly earnings on August 7, where it posted earnings per share (EPS) of $1.39, surpassing the market prediction of $1.20 by $0.19. Walt Disney's return on equity stood at 8.64%, while it recorded a net profit margin of 5.30%. The revenue for the quarter reached $23.20 billion, slightly exceeding expectations of $23.08 billion. In the same quarter last year, the company recorded an EPS of $1.03, illustrating a year-over-year revenue increase of 3.9%. Analysts anticipate that Disney will report an EPS of 4.92 for the current fiscal year.

Insider Trading Activity

In recent insider trading news, Director Calvin McDonald purchased 11,756 shares of Disney stock on August 8 at an average price of $85.06 per share, totaling an investment of approximately $999,965. Following this transaction, McDonald now holds 22,313 shares valued at around $1,897,943.78. This acquisition reflects a significant increase of 100% in his holdings. The details of this transaction have been disclosed to the Securities & Exchange Commission.

About The Walt Disney Company

The Walt Disney Company is a global leader in entertainment, operating through three main segments: Entertainment, Sports, and Experiences. The company is known for producing and distributing a variety of film and television content, which includes offerings from the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand channels, as well as original productions from its various studios and brands.

Disney, Stocks, Investment