In recent developments, Corebridge Financial Inc. has trimmed its holdings in The Walt Disney Company (NYSE:DIS) by 4.7% during the fourth quarter. According to the company’s latest disclosure with the Securities and Exchange Commission, Corebridge sold 20,580 shares, leaving it with 416,209 shares valued at approximately $46,345,000. This move sheds light on the dynamic nature of stock holdings within major investment portfolios.
Other institutional investors and hedge funds also adjusted their positions in Disney. Noteworthy among these were Tacita Capital Inc., which boosted its stake by 93.2%, and Midwest Capital Advisors LLC, which recently acquired new shares. Overall, institutional investors own a substantial 65.71% of Disney’s stock, underscoring strong market confidence.
Wall Street analysts remain bullish on Disney, with multiple brokerages issuing optimistic forecasts. Goldman Sachs, for instance, raised its price target to $139.00, giving Disney a “buy” rating. Similarly, Morgan Stanley lifted its price target to $130.00, reiterating an “overweight” stance, while Redburn Atlantic significantly upped its target to $147.00. A consensus of analysts from MarketBeat reflects a “Moderate Buy” rating with an average price target of $125.64.
Disney stock saw a slight uptick of 0.8% recently, closing at $100.24. The entertainment titan’s latest earnings report exceeded expectations, with an EPS of $1.76 for the quarter, surpassing the analysts’ consensus of $1.44. This strong performance illustrates Disney’s robust financial health and ongoing market appeal.
The Walt Disney Company continues to shine as a global entertainment leader, producing beloved content through its extensive portfolio of brands including Disney, Pixar, Marvel, and Lucasfilm. With such a rich tapestry of assets, Disney’s growth potential remains compelling.
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Source: @MarketBeatCom
