Disney blasted over 'structural rot' as woke film studios sees millions in investment pulled

The Palmetto State is so frustrated with the film studios that it has decided to divest funds over the company’s management supposedly abandoning their fiduciary responsibilities.

"I think it's clear to anybody paying attention that there's a structural rot inside of Disney," Loftis told Fox News.

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"It's deep, it’s pervasive, and I suspect Bob Iger, since his return as the CEO, now realizes it can't be fixed."

Taking umbrage with Disney’s embrace of Environmental, Social and Governance criteria, he added: "People sometimes forget that ESG has nothing to do with investing.

"ESG is a speech and behavior code that was … created by the left and delivered to everybody else under these virtuous circumstances, or presumed circumstances."

However, Loftis appeared most dismayed by the individuals heading up the company.

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"The sane, sober, talented, mature people are gone, and now you have the gender studies crowd running Disney" he explained.

"That's why their movies are flops and their market cap, I think, is about half what it used to be.

"It's a tremendous loss to America, we all grew up on Disney."

The portfolio of the State Treasurer's Office reportedly included $105million in Disney debt securities.

Disney admitted in last year’s annual report that there remains “no assurance” that the company will achieve its ESG goals or that its “initiatives will achieve their intended outcomes”.

Shares prices for Walt Disney Co have fallen by 2.36 per cent over the past six months to $91.36.

There has been a 20.81 per cent drop over the last five years but the company recorded a modest increase in the year-to-date.

Despite some challenges, an expert on Wall Street remains optimistic about its stock.

JPMorgan analyst Philip Cusick has an "overweight" rating on Disney and a price target of $120, around 29 per cent above the current levels.

Bank of America analyst Jessica Reif Ehrlich also has a "buy" rating on the company and a $110 price target, implying a potential upside of 19 per cent.