Meiji Yasuda Asset Management Co Ltd. Has $265,000 Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,583 shares of the company’s stock after purchasing an additional 2,849 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Warner Bros. Discovery were worth $265,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama increased its stake in shares of Warner Bros. Discovery by 781.3% in the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after acquiring an additional 3,826,715 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Warner Bros. Discovery by 17.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after purchasing an additional 3,710,343 shares in the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Warner Bros. Discovery by 14.6% during the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after purchasing an additional 2,621,582 shares during the period. Drexel Morgan & Co. boosted its position in shares of Warner Bros. Discovery by 97.6% during the 1st quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock worth $40,162,000 after purchasing an additional 2,272,245 shares in the last quarter. Finally, Coronation Fund Managers Ltd. grew its stake in shares of Warner Bros. Discovery by 31.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 6,448,459 shares of the company’s stock valued at $47,977,000 after buying an additional 1,546,953 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on WBD. JPMorgan Chase & Co. cut their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Barrington Research reiterated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, July 23rd. Evercore ISI decreased their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Barclays decreased their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and an average price target of $10.93.

Warner Bros. Discovery Stock Down 1.9 %

Warner Bros. Discovery stock opened at $8.24 on Friday. The firm has a 50 day moving average price of $7.86 and a 200-day moving average price of $7.98. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a market capitalization of $20.19 billion, a P/E ratio of -6.65 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The firm had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. Warner Bros. Discovery’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the company posted ($0.51) earnings per share. As a group, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.