Big Moves in the Mouse House: LBP AM SA Trims Its Disney Holdings

Hey there, Disney fans! There’s interesting news from the world of Disney investing. According to recent filings with the Securities and Exchange Commission (SEC), LBP AM SA has significantly reduced its stake in The Walt Disney Company (NYSE: DIS). The firm decreased its holdings by a whopping 50.7% in the first quarter of this year. After parting with 25,953 shares, LBP AM SA now retains 25,256 shares of the entertainment giant, which were valued at a cool $3.09 million at the end of the most recent quarter.

But they’re not the only ones making moves. Other investors have also been reshuffling their Disney stocks. For instance, ESL Trust Services LLC, Gold Investment Management Ltd., Partnership Wealth Management LLC, Stone House Investment Management LLC, and Red Tortoise LLC have all recently added Disney shares to their portfolios. With institutional investors owning about 65.71% of the stock, it’s evident that Disney remains a popular pick among the big players.

Price targets for Disney have been a hot topic among analysts as well. Wells Fargo & Company recently bumped their target from $128 to $141, while JPMorgan Chase & Co. and Argus have both set their sights on $140. Despite a mix of ratings, mostly leaning towards “buy,” the average analyst rating for Disney remains a “Moderate Buy” with a consensus target price of approximately $128.13.

Meanwhile, Disney’s stock has been on a bit of a rollercoaster. Recently trading at around $93.05, it has seen highs of $123.74 in the last 52 weeks. With a market cap of $169.63 billion and a debt-to-equity ratio of 0.38, the House of Mouse continues to be a formidable player in the market.

Intriguingly, the insiders aren’t staying idle either. Director James P. Gorman recently bought 20,000 shares for about $2.12 million, while EVP Sonia L. Coleman sold 4,400 shares valued at $466,400. This shuffle inside the company is always a key indicator to watch for those thinking about investing in Disney.

So, what are your thoughts on these moves in the magical world of Disney? Drop your comments below and share this story with fellow Disney enthusiasts!

Source: MarketBeat