Exciting news for the Disney community! Griffin Asset Management Inc. has expanded its stake in The Walt Disney Company (NYSE: DIS) by 6.5% in the second quarter, proudly owning 97,281 shares. This move elevates Disney to the 27th largest position in Griffin’s investment portfolio, with a total valuation of $9.66 million. It’s a positive signal that underscores confidence in Disney’s long-term potential.

Many other institutional investors are following suit. ESL Trust Services LLC, Gold Investment Management Ltd., Partnership Wealth Management LLC, Red Tortoise LLC, and Evolution Advisers Inc. have all recently acquired shares, showcasing a trend of optimism in the entertainment titan’s future. Indeed, institutional investors and hedge funds now hold 65.71% of Disney’s shares, indicating strong institutional faith in the company.

Adding to this buzz, Director Calvin McDonald invested in 11,756 shares at $85.06 each, totaling nearly $1 million. This notable insider buy highlights confidence from within Disney—always a good sign for potential investors.

Wall Street analysts seem quite hopeful too. Despite recent cuts in target prices due to market conditions, major institutions like Bank of America, Evercore ISI, Barclays, and Morgan Stanley maintain a buy rating for Disney. They collectively foresee a promising future for the stock with a consensus price target of $117.95.

Currently, Disney shares are priced at $89.93, reflecting a 0.9% downturn on Thursday. However, with a strong quarterly earnings report showing a $1.39 EPS against the expected $1.20, and revenues surpassing forecasts at $23.20 billion, Disney is likely set to rebound. Analysts predict the company’s fiscal year earnings per share to hit 4.77, buoying investor confidence.

Disney’s diversified entertainment, sports, and experiences sectors—including blockbuster brands like ABC, Marvel, Lucasfilm, and Pixar—ensure it remains a formidable presence in the entertainment world.

Share your thoughts in the comments! Do you think Disney’s stock will soar again soon? And feel free to share this story with fellow Disney enthusiasts!

Source: MarketBeat