Warner Bros. Discovery, Inc. $WBD is Hillman Capital Management Inc.’s 2nd Largest Position

Hillman Capital Management Inc. trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 44.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 330,727 shares of the company’s stock after selling 264,820 shares during the period. Warner Bros. Discovery makes up approximately 3.8% of Hillman Capital Management Inc.’s holdings, making the stock its 2nd largest position. Hillman Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $6,459,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Focus Partners Wealth boosted its holdings in Warner Bros. Discovery by 13.9% in the third quarter. Focus Partners Wealth now owns 82,638 shares of the company’s stock worth $1,614,000 after acquiring an additional 10,100 shares in the last quarter. CSM Advisors LLC raised its position in shares of Warner Bros. Discovery by 17.9% in the 3rd quarter. CSM Advisors LLC now owns 17,110 shares of the company’s stock worth $334,000 after purchasing an additional 2,600 shares during the last quarter. Chevy Chase Trust Holdings LLC boosted its stake in Warner Bros. Discovery by 6.2% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 1,269,292 shares of the company’s stock worth $24,789,000 after purchasing an additional 73,875 shares in the last quarter. Community Bank N.A. purchased a new stake in Warner Bros. Discovery during the 3rd quarter valued at about $74,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Warner Bros. Discovery by 2.7% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 998,188 shares of the company’s stock valued at $19,491,000 after purchasing an additional 25,800 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 1.1%

Shares of WBD stock opened at $27.14 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.87. Warner Bros. Discovery, Inc. has a 12-month low of $7.52 and a 12-month high of $30.00. The stock has a market capitalization of $67.25 billion, a P/E ratio of 93.59 and a beta of 1.60. The firm’s 50 day moving average is $28.15 and its 200 day moving average is $23.94.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.19). The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.33 billion. Warner Bros. Discovery had a net margin of 1.95% and a return on equity of 1.98%. Warner Bros. Discovery’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.20) earnings per share. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WBD. Weiss Ratings upgraded shares of Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and raised their price target for the company from $29.50 to $31.00 in a research report on Friday, February 27th. Barrington Research cut Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research report on Friday, December 5th. UBS Group upped their price target on Warner Bros. Discovery from $20.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Finally, Argus dropped their price objective on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.30.

Insider Buying and Selling

In related news, CEO David Zaslav sold 4,004,149 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $28.26, for a total transaction of $113,157,250.74. Following the completion of the sale, the chief executive officer owned 7,200,627 shares in the company, valued at approximately $203,489,719.02. This represents a 35.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gunnar Wiedenfels sold 374,323 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $28.05, for a total value of $10,499,760.15. Following the completion of the transaction, the chief financial officer directly owned 663,380 shares in the company, valued at approximately $18,607,809. This represents a 36.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,571,827 shares of company stock valued at $213,302,225 over the last ninety days. 1.80% of the stock is owned by insiders.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.