Exciting News for Disney Fans: Comerica Bank Invests $43.84 Million in The Walt Disney Company
In an impressive move, Comerica Bank has increased its stake in The Walt Disney Company, injecting a grand total of $43.84 million into the entertainment titan. During the fourth quarter, Comerica Bank grew its holdings by 1.6%, adding 7,587 shares to its portfolio and bringing its total to a notable 485,494 shares. This latest filing with the SEC confirms the bank’s belief in Disney’s enduring magic.
Other investment giants are also solidifying their confidence in Disney. Vanguard Group Inc., Morgan Stanley, and Trian Fund Management L.P. have all boosted their stakes, contributing to the 65.71% of Disney currently held by institutional investors and hedge funds. Vanguard, for instance, now boasts nearly 150 million shares worth over $12 billion, thanks to a recent purchase of close to a million additional shares.
Disney’s market performance remains robust. Opening at $100.80, the company’s stock showcases a market capitalization of $183.76 billion. With a P/E ratio of 109.57 and a twelve-month price range between $78.73 and $123.74, the Walt Disney Company continues to be a resilient player in the market. The company’s recent earnings report highlights a $1.21 earnings per share (EPS) for the quarter, outpacing analyst expectations and demonstrating Disney’s financial strength.
On the insider front, Executive Vice President Sonia L. Coleman recently sold 1,857 shares at an average price of $121.92, illustrating the internal movements within the company. Concurrently, Director James P. Gorman made a significant purchase of 20,000 shares, reflecting ongoing confidence in Disney’s strategic direction and potential for growth.
Market analysts are keeping a keen eye on Disney, with several brokerages recently updating their outlook. Redburn Atlantic, Barclays, Bank of America, and Tigress Financial have all adjusted their target prices and ratings, indicating a “Moderate Buy” consensus and projecting a steady upward trend for the stock.
The Walt Disney Company’s diverse portfolio spans across entertainment, sports, and experiences, showcasing the brand’s global influence and innovation. From renowned film studios like Marvel and Pixar to pioneering TV networks like ABC and National Geographic, Disney continues to captivate audiences worldwide.
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*Sources: SEC Filings, MarketBeat.com*
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