Disney Stake Sells Off, Analysts Still Bullish on Stock Performance
The Walt Disney Company (NYSE:DIS) saw its stake in shares decreased by Jacobs & Co. CA, an institutional investor, by 8.6% during the second quarter.
Jacobs & Co. CA sold 9,756 shares of Disney's stock during the period and had a total of 104,241 shares worth $10,033,000 as of its most recent filing with the Securities and Exchange Commission.
This is not an isolated incident, as other institutional investors and hedge funds have also been buying or selling Disney shares in recent quarters. For instance, Swiss RE Ltd. purchased a new position in Walt Disney in the 4th quarter valued at approximately $25,000.
Despite some concerns about revenue growth, analysts are still bullish on Disney's stock, with Citigroup lowering its price target from $145 to $135 and setting a 'buy' rating for the company. Analysts predict that Walt Disney will post 6.91 earnings per share for the current fiscal year.