Yacktman Asset Management LP has cut its stake in The Walt Disney Company (NYSE:DIS) by 4.7% in the third quarter, according to recent filings with the SEC. Following the sale of 66,596 shares, the investment firm now holds 1,357,848 shares of the entertainment company, which represents approximately 2.1% of their total portfolio and makes it their 15th largest holding. As of the end of the reporting period, Yacktman Asset Management’s Disney shares were valued at about $155.5 million.
In addition to Yacktman, several other prominent investors have adjusted their positions in Disney recently. Copeland Capital Management acquired a new stake worth $25,000, while Pilgrim Partners Asia Pte Ltd purchased shares valued at approximately $33,000 in the same quarter. Harbor Asset Planning Inc. and Total Investment Management Inc. also initiated new positions in Disney, each valued at around $37,000. Notably, Navigoe LLC increased its investment by 89.2% during the third quarter, now owning 403 shares worth approximately $46,000. Overall, institutional investors and hedge funds control 65.71% of Disney’s stock.
In the latest market update, shares of The Walt Disney Company gained 1.1%, opening at $112.83. The company reports a debt-to-equity ratio of 0.31 and has a current ratio of 0.71. Over the last year, Disney’s stock has traded between a low of $80.10 and a high of $124.69. The company boasts a market capitalization of $201.44 billion, with a price-to-earnings (P/E) ratio of 16.45.
Disney’s latest quarterly earnings report was released on November 13, showcasing an earnings per share (EPS) of $1.11, surpassing analysts’ estimates of $1.03. However, revenue for the quarter came in at $22.46 billion, slightly below the anticipated $22.78 billion and demonstrating a minor year-over-year decline of 0.5%. Analysts expect Disney to achieve an EPS of 5.47 for the current fiscal year.
Additionally, Disney recently announced a dividend of $0.75 per share, scheduled for distribution on July 22, with a record date of June 30. This delivers a dividend yield of 139.0%, and the company’s payout ratio stands at 21.87%.
Market analysts have shared a range of perspectives on Disney. KeyCorp maintained a “sector weight” rating, while Wells Fargo downgraded its price target from $159.00 to $152.00 but retained an “overweight” rating. UBS Group reaffirmed its “buy” rating with a target price of $138.00, and Needham & Company LLC set a price target of $125.00. In total, nineteen analysts recommend buying the stock, six suggest holding, and one has issued a sell rating, reflecting a consensus rating of “Moderate Buy” with a target price of $135.20.
The Walt Disney Company, headquartered in Burbank, California, is a diversified global entertainment and media conglomerate. Founded in 1923, Disney has transformed from an animation studio into a major entertainment empire encompassing film and television production, theme parks, streaming services, and consumer products. The company’s robust portfolio includes renowned franchises from Pixar, Marvel, and Lucasfilm, representing a powerhouse in family-friendly storytelling and iconic intellectual property.
With a combination of strategic investments and a diverse range of operations, Disney continues to position itself strongly in the competitive entertainment industry, suggesting a brighter future for investors and stakeholders alike.