Recent economic data paints a mixed picture of the U.S. economy. While the improving labor market and consumer sentiment index suggest continued resilience, a decline in orders for durable goods indicates a sign of weakness in corporate investment. In such times, investors may look to the experts, such as Top hedge fund managers, for recommendations. Entertainment giant Walt Disney (NYSE:DIS) has emerged as a preferred choice among these experts, as per the latest 13F filings.
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Prominent investors, including Christopher Niemczewski of Marshfield Associates, John Kim of Night Owl Capital Management, and Bill Gates of the Bill & Melinda Gates Foundation Trust, have recently added Disney stock to their portfolios. Among the three investors, Niemczewski holds the largest position in the stock, worth $114.6 million.
It is worth mentioning that the overall confidence signal of hedge funds on DIS stock is Very Positive. In the last quarter, hedge funds have increased their holdings in Walt Disney by 31.4 million shares.
The fiscal fourth-quarter results, released earlier in November, sparked a surge of optimism about Disney. The company significantly reduced losses in its streaming division through increased subscription prices and effective cost management. Furthermore, DIS witnessed subscriber growth with the launch of its new ad-supported subscription plan. Also, the company is well-poised to benefit from a new round of investments in its theme parks.
Now let’s look at the opinion of Wall Street analysts on the stock.
Is Disney a Buy, Sell, or Hold?
Last week, Deutsche Bank analyst Bryan Kraft reaffirmed a Buy rating on DIS stock and expressed confidence in the company’s long-term fundamentals.
On TipRanks, Disney has a Moderate Buy consensus rating based on 18 Buys, six Holds, and one Sell rating. The average Disney stock price forecast of $106.52 implies 12.04% upside potential from current levels. Year-to-date, shares of the company have gained 6.9%.
