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Clean Yield Group Reduces Stake in Disney Amid Market Shifts

Clean Yield Group has decreased its investment in The Walt Disney Company (NYSE: DIS) by 7.0% during the second quarter of 2023. The firm now holds 5,150 shares of Disney’s stock after selling 389 shares in this period, with a reported value of approximately $639,000 according to its latest filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also adjusted their positions in Disney. Notably, J. Safra Sarasin Holding AG increased its stake by 8.1% in the first quarter, acquiring an additional 16,781 shares. This brought its total holdings to 222,747 shares, valued at around $21,983,000. Meanwhile, Planning Directions Inc. established a new stake in Disney during the first quarter, with an investment estimated at $326,000.

In a significant move, Kingstone Capital Partners Texas LLC acquired a new stake valued at approximately $4.22 billion during the second quarter. Wedge Capital Management L L P NC dramatically increased its stake by an astonishing 8,744.0%, now owning 320,329 shares worth about $39,724,000. WoodTrust Financial Corp also raised its holdings in Disney by 6.7% in the first quarter, bringing its total to 96,158 shares, valued at approximately $9,491,000. Currently, institutional investors and hedge funds hold 65.71% of Disney’s stock.

Analysts Set New Price Targets for Disney Stock

A number of brokerage firms have recently updated their assessments of Disney stock. On August 11, 2023, Stephens reiterated a “buy” rating, and Chardan Capital also maintained a “buy” rating on the same day. Loop Capital raised its price target from $125.00 to $130.00, maintaining a “buy” rating as of June 10, 2023. Additionally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating on August 11, 2023. Guggenheim increased its price target from $120.00 to $140.00, also citing a “buy” rating on June 27, 2023.

Overall, the stock has received a mixture of ratings, with one analyst issuing a Strong Buy, nineteen analysts assigning a Buy rating, and eight analysts recommending a Hold. According to MarketBeat.com, Disney currently holds a consensus rating of “Moderate Buy” with a price target of $131.18.

Walt Disney’s Current Financial Performance

As of Monday, shares of Disney opened at $113.46. Financial metrics reveal a quick ratio of 0.66, a current ratio of 0.72, and a debt-to-equity ratio of 0.32. Disney’s stock has fluctuated significantly over the past year, with a 52-week low of $80.10 and a high of $124.69.

The entertainment giant last reported its quarterly earnings on August 6, 2023, revealing earnings per share (EPS) of $1.61, which surpassed analysts’ expectations of $1.45 by $0.16. Despite a net margin of 12.22% and a return on equity of 9.67%, Disney’s revenue for the quarter was reported at $23.65 billion, slightly below analyst estimates of $23.69 billion. This reflects a year-over-year revenue increase of 2.1% from the same quarter last year.

Looking ahead, analysts expect Disney to post an EPS of $5.47 for the current fiscal year.

The Walt Disney Company continues to be a significant player in the global entertainment industry, operating across multiple segments, including film production, television, and streaming services. As market dynamics shift, both institutional investor strategies and analyst ratings will play crucial roles in shaping the company’s future.

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