Cresset Asset Management LLC has expanded its stake in The Walt Disney Company (NYSE: DIS), now holding $11.89 million in shares, marking a 4.1% increase in the fourth quarter. This boost sees Cresset owning 131,372 shares of Disney after acquiring an additional 5,216 shares, underscoring growing institutional confidence in the entertainment titan.
A flurry of activity marks the broader market landscape as other hedge funds and institutional investors also adjust their Disney holdings. The Vanguard Group increased its stake by 0.7%, now possessing approximately 150 million shares valued at over $12.1 billion. Meanwhile, Morgan Stanley and Trian Fund Management made notable increases to their positions, further reflecting investor confidence in Disney’s trajectory.
Insider activity has also been buzzing with Director James P. Gorman making headlines after purchasing 20,000 shares valued at over $2.1 million, a clear vote of confidence from within the company’s leadership. On the other hand, EVP Sonia L. Coleman sold 4,400 shares, reflecting a day-to-day balancing act typical in large corporations.
Wall Street analysts remain optimistic about Disney’s future, with recent upgrades from firms like Needham & Company LLC and Deutsche Bank Aktiengesellschaft. These firms have raised their price targets for Disney, underscoring a continued bullish outlook. Analysts consensus rates Disney as a “Moderate Buy” with a price target averaging around $126.
Despite recent turbulence, Disney’s stock maintains a buoyant market cap of $183.91 billion. With robust earnings reported last quarter and revenue surpassing $22 billion, the entertainment giant shows resilience. Analysts predict Disney to post a solid earnings per share (EPS) of 4.76 for the current year, ensuring shareholders have much to look forward to.
Disney’s diverse entertainment portfolio, which spans television, film, streaming, and theme park segments, continues to enchant audiences and investors alike. Holding firm through economic headwinds, Disney reassures its stakeholders of its enduring magic in the entertainment world.
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