Envestnet Asset Management Inc. has boosted its investment in The Walt Disney Company (NYSE:DIS) by 2.7% during the fourth quarter, as revealed in a recent SEC filing. The asset management powerhouse now holds a significant 2,443,504 shares, up by 63,535 shares from the previous period, translating to a value of approximately $220,624,000. This acquisition represents a notable confidence in Disney’s market position.
In other news, numerous institutional investors have also shown an interest in Disney shares. Firms such as Planned Solutions Inc. and Gold Investment Management Ltd. have been steadily acquiring shares, indicating market enthusiasm. Meanwhile, Stone House Investment Management LLC has notably increased its position by 355.3%, showcasing a shared optimism among investment circles.
Director James P. Gorman made headlines by purchasing 20,000 shares of Disney stock at an average price of $106.03 per share, totaling over $2.1 million. This acquisition, disclosed via SEC filings, underscores insider confidence in Disney’s future. On the flip side, EVP Sonia L. Coleman sold 4,400 shares in a transactional move, further adding to the insider activity for Disney.
Disney’s recent stock performance reflects a positive trajectory, with shares trading up by $0.39 to reach $101.60. Despite this, the stock encounters varied analyses from notable firms. JPMorgan Chase & Co. and Morgan Stanley have both rated Disney stocks favorably with increased price targets, suggesting bullish sentiment among analysts. However, The Goldman Sachs Group and Evercore ISI have slightly adjusted their target prices, indicating a nuanced outlook.
For the fiscal enthusiasts, Disney reported $1.21 earnings per share for the last quarter, surpassing analyst expectations by $0.09. The company achieved $22.08 billion in revenue, marking a 1.2% year-over-year increase. Analysts predict robust earnings per share for Disney moving forward, estimating 4.76 EPS for the current fiscal year.
Your thoughts on these developments? What do you think about Disney’s market prospects? Share your views in the comments below and don’t forget to share this story with friends and fellow Disney enthusiasts! For the full financial breakdown, check out MarketBeat’s detailed report [here](https://www.marketbeat.com/instant-alerts/nyse-dis-sec-filing-2024-06-07/).
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