Prudential Financial Inc. has significantly increased its holdings in The Walt Disney Company, showcasing strong confidence in the entertainment giant. According to the latest SEC filing, Prudential Financial Inc. boosted its investment by 40.5% during the fourth quarter, acquiring an additional 651,004 shares to bring its total ownership to 2,257,340 shares. This upswing elevates Prudential Financial’s stake in Disney to a substantial $251.36 million.
Other institutional investors have also been active with Disney stock. Twin City Private Wealth LLC raised its holding by 18.4%, while Clune & Associates LTD. opened a new position valued at about $217,000. Fresh investments also came from Mountain Hill Investment Partners Corp. and Crowley Wealth Management Inc., which invested $5.06 million and $3.64 million, respectively. Collectively, institutional investors and hedge funds now own 65.71% of Disney’s stock.
Analysts have been reacting to these developments with mixed feelings. Needham & Company LLC reaffirmed a “buy” rating with a $130 target price, while Morgan Stanley adjusted its price objective from $125 to $130, maintaining an “overweight” rating. However, opinions were not all bullish. Macquarie rated Disney as “neutral” with a $110 target, and Prescient Securities cut its price target from $130 to $115. Overall, Disney enjoys a Moderate Buy rating with an average price target of $125.64.
In the market, Disney’s stock has been performing well, recently trading at $100.24. Despite the volatility, the stock has managed a 1-year low of $83.91 and a high of $123.74. With a debt-to-equity ratio of 0.36 and a market cap of $181.21 billion, the company remains a robust contender in the industry. Its recent earnings also surpassed expectations, posting $1.76 earnings per share against the anticipated $1.44.
Disney continues to thrive across its diverse segments, from its iconic film and television productions to its cable networks like ABC and ESPN, as well as the world-renowned Disney theme parks. The combination of strategic growth and solid financial performance makes Disney a valuable asset in any portfolio.
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Source: @MarketBeatCom
