In an exciting development for Disney fans and investors, Team Hewins LLC has acquired a significant stake in The Walt Disney Company (NYSE:DIS). The firm has purchased 10,218 shares of the entertainment conglomerate, valued at approximately $926,000, as per the company’s recent SEC filing. This move has certainly caught the attention of the market, especially considering the storied tradition of Disney enchanting audiences and delivering strong financial performance.
Several other hedge funds have also reshuffled their portfolios regarding Disney. Firms like Planned Solutions Inc. and Fortis Group Advisors LLC, alongside Stone House Investment Management LLC and Evolution Advisers Inc., have either increased their holdings or taken new positions over the past quarters. Notably, Stone House Investment Management increased its Disney holdings by an impressive 355.3%, indicating robust confidence in the brand’s future trajectory. Currently, about 65.71% of Disney’s stock is held by institutional investors and hedge funds.
Despite the recent enthusiasm from hedge funds, Disney’s stock has experienced a bit of a dip. Shares traded down by 2.3%, settling at $100.67 during midday trading on Thursday. This volatility is somewhat expected in today’s dynamic market conditions. However, Disney’s fundamentals remain solid, with the company posting better-than-expected earnings in its latest quarterly results. Disney reported $1.21 EPS, outpacing analysts’ expectations, and saw a 1.2% increase in revenue compared to the same period last year.
In insider news, EVP Sonia L. Coleman made headlines by selling 1,857 shares of Disney at an average price of $121.92, amounting to a total of $226,405.44. In another transaction, Director James P. Gorman purchased 20,000 shares, demonstrating his confidence in Disney’s value, particularly given his purchase at $106.03 per share.
Wall Street analysts remain optimistic about Disney’s future. Several reputable firms, including Macquarie, Daiwa Capital Markets, and JPMorgan Chase & Co., have given Disney favorable ratings and price targets. Analyst consensus, according to MarketBeat, rates the stock as a “Moderate Buy,” with a consensus price target of $125.52.
As Disney continues to innovate and captivate, it’s certainly an exciting time for those invested in the magic it brings to the world. We’d love to hear your thoughts on this development. Have meaningful acquisitions like these influenced your view of Disney’s stock? Share your opinions in the comments below, and feel free to spread the news with fellow Disney aficionados!
