Brookstone Capital Management has increased its investment in the entertainment powerhouse, The Walt Disney Company (NYSE: DIS), by a notable 13.8% in the second quarter. According to the latest filing with the SEC, Brookstone Capital Management now holds an impressive 115,680 shares of Disney, reflecting an increase of 14,000 shares over the period, with an estimated value of $11,257,000.
Other institutional investors have shown similar confidence in Disney. For instance, SVB Wealth LLC saw a modest 1% rise in their Disney holdings during the fourth quarter, now owning 39,853 shares valued at $3,598,000. Additionally, Livforsakringsbolaget Skandia Omsesidigt boosted their stake by 71.5%, translating to 4,147 shares valued at $375,000. In contrast, HF Advisory Group LLC and Strid Group LLC also expanded their portfolios with notable investments in Disney.
Meanwhile, noteworthy insider transactions include Director Calvin McDonald’s acquisition of 11,756 shares on August 8th. McDonald’s purchase at an average price of $85.06 per share, totaling approximately $999,965, underscores insider confidence in Disney’s future prospects. McDonald now holds 22,313 shares in the global entertainment juggernaut.
Disney’s stock showed positive momentum, opening at $89.30 on Friday, with recent quarterly performance exceeding expectations. The company reported earnings per share (EPS) of $1.39, surpassing the consensus estimate by $0.19. Walt Disney’s revenue for the quarter was an impressive $23.20 billion, reflecting a year-over-year growth of 3.9%.
The consensus among Wall Street analysts remains favorable for Disney. Deutsche Bank Aktiengesellschaft and Loop Capital maintain “buy” ratings, albeit with adjusted price targets. Analysts anticipate Disney’s stock to achieve a consensus target price of $118.13, signaling robust growth potential.
Let’s hear your thoughts! Are you optimistic about Disney’s future? Share your comments and engage with fellow Disney enthusiasts!
Source: [Defense World](https://www.defenseworld.net/2024/08/18/brookstone-capital-management-boosts-stock-position-in-the-walt-disney-company-nysedis.html)
