Mutual of America Reduces Stake in Walt Disney by 1.9%

Mutual of America Capital Management LLC has decreased its holdings in The Walt Disney Company (NYSE: DIS) by 1.9%, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). The institutional investor now owns 206,135 shares of the entertainment giant, having sold 4,061 shares during the second quarter of 2023. As of the latest filing, these shares were valued at approximately $25.56 million.

Several other institutional investors and hedge funds have also adjusted their positions in Walt Disney. Notably, Brighton Jones LLC increased its stake by 7.7% in the fourth quarter, now owning 26,767 shares worth around $2.98 million. GAMMA Investing LLC raised its holdings by 8.1% in the first quarter, bringing its total to 24,830 shares valued at about $2.45 million. Additionally, Foundation Wealth Management LLC raised its stake by 37.8%, now holding 5,991 shares worth approximately $591,000. Mizuho Securities Co. Ltd. made a significant move, increasing its stake by 1,605.6% to own 3,070 shares valued at about $303,000.

Market Response and Analyst Ratings

In the context of these adjustments, several brokerages have recently analyzed Walt Disney’s stock. On July 29, 2023, JPMorgan Chase & Co. raised its price target for Disney from $130.00 to $138.00, maintaining an “overweight” rating. Similarly, UBS Group also increased its price target to $138.00, assigning a “buy” rating on July 16, 2023.

Contrastingly, Wall Street Zen downgraded Disney from a “buy” to a “hold” rating on October 3, 2023, while Jefferies Financial Group made a similar downgrade on August 11, 2023. As of now, nineteen analysts have rated Disney with a “buy” rating and eight have issued a “hold” rating. The consensus rating is classified as a “Moderate Buy” with an average price target of $132.90, according to MarketBeat.

The stock performance of Walt Disney has seen fluctuations as well. On August 6, 2023, the company reported quarterly earnings, revealing an earnings per share (EPS) of $1.61, surpassing the consensus estimate of $1.45 by $0.16. The firm’s revenue for the quarter was reported at $23.65 billion, slightly below analyst expectations of $23.69 billion. Disney showed a net margin of 12.22% and a return on equity of 9.67%, with revenues increasing by 2.1% year-over-year.

Current Market Position

As of the end of last week, shares of Disney opened at $110.69. The company has a market capitalization of approximately $199 billion and a price-to-earnings (P/E) ratio of 17.35. The firm’s 52-week low is recorded at $80.10, while the high stands at $124.69.

Disney’s financial health is further illustrated by its debt-to-equity ratio of 0.32, a quick ratio of 0.66, and a current ratio of 0.72. The company’s moving averages indicate a 50-day simple moving average of $114.86 and a 200-day simple moving average of $110.83.

Walt Disney operates as a global entertainment company, segmented into three areas: Entertainment, Sports, and Experiences. It produces and distributes film and television content across various platforms, including well-known brands such as ABC, Disney+, and Marvel.

For more details on institutional holdings, investors can explore the latest 13F filings and insider trades concerning The Walt Disney Company on HoldingsChannel.com.