MONECO Advisors LLC has recently increased its investment in The Walt Disney Company (NYSE:DIS) by acquiring an additional 3,669 shares during the fourth quarter. This purchase propels MONECO’s stake up by 22%, bringing their total to an impressive 20,371 shares, valued at $1,839,000. This move highlights growing confidence in Disney’s future prospects among institutional investors.
Notably, MONECO Advisors LLC isn’t the only entity bolstering their position in Disney. Firms like Planned Solutions Inc., Gold Investment Management Ltd., Partnership Wealth Management LLC, and Stone House Investment Management LLC have also augmented their stakes, indicating a trend of increasing institutional backing. With 65.71% of Disney’s stock currently held by institutional investors and hedge funds, the entertainment giant’s market presence remains robust.
Amid these developments, Disney’s stock opened at $101.55 recently and saw a 1.6% rise. The company boasts a market cap of $185.13 billion, with a one-year range between $78.73 and $123.74. Disney continues to exhibit financial stability, with a debt-to-equity ratio of 0.38, and maintains investor interest with strong quarterly earnings. Their latest earnings report showed revenues of $22.08 billion, slightly below the expected $22.12 billion, but beating earnings per share estimates with a solid $1.21.
Insider trading activity includes EVP Sonia L. Coleman selling 1,857 shares and Director James P. Gorman purchasing 20,000 shares, reflecting varied insider perspectives on the stock’s value. Analysts remain largely optimistic, with several adjusting their price targets upwards. A consensus of “Moderate Buy” and an average target price of $126.29 suggests confidence in Disney’s potential for growth.
Overall, Disney continues to captivate the market with strong institutional support and optimistic future projections. Share your thoughts in the comments below about this exciting news and don’t forget to share this story with fellow Disney fans!
Source: Defense World
