Mutual of America Reduces Stake in Walt Disney by 1.9%

Mutual of America Capital Management LLC has reduced its holdings in The Walt Disney Company (NYSE: DIS) by 1.9% during the second quarter, according to its recent Form 13F filing with the U.S. Securities and Exchange Commission. Following the sale of 4,061 shares, the institutional investor now owns a total of 206,135 shares, valued at approximately $25.6 million.

A number of other institutional investors have also adjusted their positions in Disney. Brighton Jones LLC increased its stake by 7.7% during the fourth quarter, acquiring an additional 1,904 shares, bringing its total to 26,767 shares worth roughly $2.98 million. Similarly, GAMMA Investing LLC raised its holdings by 8.1% in the first quarter, now owning 24,830 shares valued at $2.45 million. Advisor Resource Council recently entered the market with a new stake worth about $434,000.

Moreover, Foundation Wealth Management LLC expanded its position by 37.8% in the first quarter, now holding 5,991 shares valued at $591,000. Mizuho Securities Co. Ltd. made a significant move, increasing its stake dramatically by 1,605.6% to own 3,070 shares valued at $303,000 after acquiring an additional 2,890 shares.

Institutional investors collectively own 65.71% of Disney’s stock, reflecting a strong confidence in the company’s long-term prospects.

Market Analysts Weigh In

Recent evaluations from various brokerages have provided mixed insights into Disney’s stock performance. On July 29, 2023, JPMorgan Chase & Co. raised its price target for Disney from $130.00 to $138.00, issuing an “overweight” rating. UBS Group followed suit, also increasing its price objective to $138.00 and maintaining a “buy” rating as of July 16, 2023.

Conversely, Wall Street Zen downgraded Disney from a “buy” to a “hold” rating on October 3, 2023. Jefferies Financial Group similarly adjusted its rating from “strong-buy” to “hold” on August 11, 2023. Raymond James Financial reaffirmed a “neutral” stance on Disney shares, indicating a cautious approach among some analysts.

Overall, the consensus rating for Disney stands at “Moderate Buy,” with an average price target of $132.90, as noted by MarketBeat.

Walt Disney’s Financial Performance

The stock of The Walt Disney Company opened at $110.69 on Friday, with a market capitalization of $199 billion. The company’s price-to-earnings (P/E) ratio is currently 17.35, complemented by a P/E/G ratio of 1.45 and a beta of 1.54. Disney’s financial metrics reveal a debt-to-equity ratio of 0.32, a quick ratio of 0.66, and a current ratio of 0.72.

Over the past year, Disney’s stock has experienced a 52-week low of $80.10 and a high of $124.69. The company’s 50-day simple moving average stands at $114.86, while the 200-day simple moving average is $110.83.

Disney recently announced its quarterly earnings on August 6, 2023, reporting earnings per share (EPS) of $1.61, surpassing analysts’ expectations of $1.45 by $0.16. The company achieved revenue of $23.65 billion for the quarter, slightly below the estimated $23.69 billion. Year-over-year, Disney’s revenue rose by 2.1%, compared to $1.39 EPS posted in the same quarter last year. Analysts project that Disney will achieve an EPS of $5.47 for the current year.

As a leading entertainment company, The Walt Disney Company operates globally through three segments: Entertainment, Sports, and Experiences. The organization is well-known for producing and distributing a variety of film and television content through its various platforms, including the ABC Television Network, Disney+, and several prominent brand channels.

For those interested in tracking further developments regarding institutional holdings in Disney, resources such as HoldingsChannel.com offer insights on the latest 13F filings and insider trades.