Big news for Disney enthusiasts and investors alike! Putnam Investments LLC recently upped their stake in The Walt Disney Company (NYSE: DIS), according to their latest filing with the Securities and Exchange Commission (SEC). During the fourth quarter, the firm increased its holdings by 1.8%, acquiring an additional 23,573 shares. This brings Putnam Investments LLC’s total holdings to 1,310,892 shares, valued at $118,360,000. This investment represents about 0.07% of Disney’s total worth.
Other institutional investors are also making moves. Companies like Planned Solutions Inc., Gold Investment Management Ltd., and Fortis Group Advisors LLC all recently purchased new stakes in Disney, demonstrating significant confidence in the entertainment giant’s future. These developments come amid Disney’s fluctuating stock performance. As of Wednesday’s opening, Disney’s stock was trading at $100.88, showing a 1.8% decline. Its 50-day moving average stands at $108.48, and its 200-day moving average is $103.93. Despite these fluctuations, Disney boasts a market cap of $183.91 billion, a PE ratio of 109.65, a price-to-earnings-growth ratio of 1.28, and a beta of 1.40.
Disney’s recent earnings report for the quarter ending May 7th was a pleasant surprise. The company reported earnings of $1.21 per share, exceeding analysts’ expectations of $1.12 per share. Additionally, Disney’s revenue for the quarter was $22.08 billion, nearly aligning with the analysts’ estimate of $22.12 billion and marking a 1.2% increase from the same period last year. As a result, sell-side analysts predict Disney will achieve EPS of 4.76 for the current year.
There have been notable insider activities within Disney as well. EVP Sonia L. Coleman sold 1,857 shares on April 1st at an average price of $121.92, totaling $226,405.44. In contrast, Director James P. Gorman purchased 20,000 shares on May 8th at $106.03 per share, amounting to a $2,120,600 investment.
Wall Street analysts remain optimistic about Disney, with Tigress Financial maintaining a “buy” rating and setting a price target of $136.00. Rosenblatt Securities and JPMorgan Chase & Co. also express optimism, with updated price targets of $137.00 and $140.00, respectively. Overall, the stock has an average rating of “Moderate Buy,” reflecting growing confidence in Disney’s potential.
What do you think about these recent investment activities and analyst ratings for Disney? Share your thoughts in the comments below and don’t forget to interact and share this story with fellow Disney enthusiasts!
Sources:
– [MarketBeat](https://www.marketbeat.com/instant-alerts/nyse-dis-sec-filing-2024-06-12/)
– [SEC Filing](http://www.sec.gov/Archives/edgar/data/1744489/000174448924000141/xslF345X05/wk-form4_1712103982.xml)
