Disney Stock Hits $100 for Fifth Year, Will it Stay?

Walt Disney's (NYSE: DIS) stock price has broken $100 for five consecutive years, only to fall back into double digits. This year was no exception, despite blowout earnings in its fiscal second quarter, which made a cheap stock even cheaper on a forward basis.

The company's theme parks are becoming a bigger part of its business and the sector is thriving as competitors pull back. In contrast, Comcast (NASDAQ: CMCSA) warned of softness at its Universal Studios theme parks in June and July.

Disney reported robust theme park attendance, with a 4% increase in the fiscal third quarter. Revenue for the Experiences segment, which includes theme parks, cruise ships, and consumer products, rose 10% for the quarter. Its operating profit doubled that pace, climbing 20%. Experiences accounted for 39% of Disney's revenue but 54% of its segment operating income.

Disney also announced a shift in its consumer product business, which will be moved from the Experiences segment to the studio business. This move makes sense, as content drives merchandise sales and licensing deals.