Sumitomo Mitsui Trust Group Inc. Has $55.29 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,152,673 shares of the company's stock after purchasing an additional 44,442 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of Warner Bros. Discovery worth $55,288,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in WBD. Norges Bank acquired a new position in Warner Bros. Discovery during the fourth quarter worth approximately $362,210,000. Contrarius Group Holdings Ltd acquired a new position in Warner Bros. Discovery in the fourth quarter valued at $168,930,000. FMR LLC grew its position in Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company's stock valued at $150,925,000 after acquiring an additional 11,810,191 shares during the period. Slate Path Capital LP grew its stake in Warner Bros. Discovery by 36.6% during the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after buying an additional 6,381,000 shares during the period. Finally, Sachem Head Capital Management LP acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth $64,847,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WBD. Barclays upped their price target on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Citigroup cut their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Morgan Stanley reduced their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Bank of America boosted their target price on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Barrington Research restated an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, June 9th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.33.

Warner Bros. Discovery Price Performance

WBD stock traded up $0.11 during trading hours on Thursday, hitting $11.23. 10,993,201 shares of the stock traded hands, compared to its average volume of 41,528,102. The stock has a 50-day simple moving average of $9.68 and a 200 day simple moving average of $9.94. The company has a market cap of $27.55 billion, a P/E ratio of -2.55 and a beta of 1.54. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The business had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same period in the prior year, the firm earned ($0.40) EPS. The business's revenue for the quarter was down 9.8% on a year-over-year basis. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share 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.