Why Walt Disney Stock Slipped on Monday

Walt Disney 's (NYSE: DIS) annual fan event failed to move the needle on its stock, a situation compounded by a significant price target cut from an analyst. Neither rocked the shares badly, but Disney still landed in negative territory on Monday. Its stock slumped by 0.3% on a day when the S&P 500 index traded flat.

A major move on parks

At its D23 Expo, much of Disney's hype concerned the numerous expansions and additions to its network of amusement parks.

The company will undergo a major expansion of Walt Disney World in Florida. Among other new attractions will be a "land" -- park area -- devoted entirely to the top villains in its suite of characters. The company has already broken ground on the land. Meanwhile, its Pixar unit's Cars franchise will be the subject of two new attractions at a reimagined Frontierland, including one racing and one family-friendly ride.

As for its foundational Disneyland in California, the company plans to build new lands and attractions based on its Marvel Avengers superhero property. It's also laboring on an attraction set in the world of the Avatar films.

One analyst's reaction

It's safe to say the D23 announcements didn't impress analyst David Heasman of Accountability Research. On Monday, Heasman downgraded his recommendation on Disney stock to hold from his previous buy. His current price target is $95 per share.

It wasn't immediately clear why he made his move. It comes less than a week after Disney reported its fiscal third-quarter earnings, which despite some notable positives -- such as the profitability of its Disney+ streaming service and a pair of convincing beats -- hasn't moved the needle on the stock much.

Eric Volkman has positions in Walt Disney. The Motley Fool has positions in and recommends Walt Disney. The Motley Fool has a disclosure policy .