MassMutual Cuts Disney Stake as Institutional Investors Adjust Holdings

MassMutual Private Wealth & Trust FSB significantly reduced its stake in The Walt Disney Company (NYSE: DIS) during the third quarter, cutting its holdings by 45.3%. According to the latest Form 13F filing with the Securities & Exchange Commission, the institutional investor sold 14,638 shares, leaving it with 17,664 shares valued at $1,694,000.

Several other institutional investors also adjusted their positions in Disney. Advisors Management Group Inc. ADV increased its stake by 4.6%, while Providence Wealth Advisors LLC raised its holdings by 1.1%. Guardian Partners Inc. and Chapin Davis Inc. both boosted their positions by 0.3%, and Bannerman Wealth Management Group LLC lifted its stake by 4.4%. Collectively, hedge funds and institutional investors own 65.71% of Disney's stock.

Wall Street analysts have been active with their assessments of Disney. Barclays raised its price target to $115.00, while Rosenblatt Securities set a $126.00 target. UBS Group and Truist Financial both set a $115.00 price target, and Guggenheim reaffirmed a "buy" rating with a $120.00 price objective. The stock currently has a consensus "Moderate Buy" rating with an average price target of $128.06.

In other news, Disney's EVP Paul Roeder sold 3,596 shares at an average price of $106.32, while EVP Brent Woodford sold 3,618 shares at $107.13. Insiders have sold a total of 14,452 shares worth $1,532,157 in the last 90 days, with insiders currently owning 0.17% of the stock.