Sompo Asset Management Co. Ltd. has increased its stake in The Walt Disney Company by 58.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor now owns 65,708 shares of Disney's stock, valued at $5.93 million. Several other institutional investors and hedge funds have also modified their holdings of Disney. In other news, EVP Sonia L. Coleman sold 4,400 shares of Disney's stock in a transaction dated May 9th. The shares were sold at an average price of $106.00, for a total value of $466,400.00. Walt Disney stock is currently trading at $101.54, with a market cap of $185.11 billion. The company reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. The firm had revenue of $22.08 billion for the quarter. Analysts forecast that The Walt Disney Company will post 4.76 EPS for the current year [fab8f4f7].
Tata Sons, the holding company of India's Tata Group, has acquired a 10% stake in satellite TV provider Tata Play from Singapore state investment firm Temasek for approximately $100 million. This transaction increases Tata Sons' stake in Tata Play to 70%. Tata Play will now operate as a joint venture between Tata Sons and Walt Disney, with Disney inheriting its stake from the acquisition of Star India. Discussions are currently underway between Tata Sons and Disney regarding Disney's stake in Tata Play [668b8c54].
Previously, both Temasek and Disney had plans to exit Tata Play through an initial public offering (IPO). However, these plans have been postponed. Tata Play had received approval for its proposed public issue in May 2023 [668b8c54].
The stake sale by Temasek and the increased stake by Tata Sons in Tata Play have raised questions about the valuation and business outlook for Tata Chemicals, another subsidiary of Tata Sons. Analysts caution that unless there is a clear path for monetization of the stake in Tata Sons, the high valuation of Tata Chemicals may not be justified. The recent rally in Tata Chemicals' stock should not overshadow the challenges faced by its core business, including a slowdown in demand. Investors are advised to consider booking profits from the stock due to the sharp rise in valuations and the difficult business outlook [f44d9417] [668b8c54] [fab8f4f7].