5 Best Entertainment Stocks to Buy for 2024

2. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders: 89

Based in Burbank, California, Walt Disney Company (NYSE:DIS) is a worldwide entertainment company. It operates multiple resort destinations; a cruise line; a beach resort; vacation ownership program; and guided tour adventure businesses. It is home to entertainment brands such as ESPN, Disney+, Hulu, Marvel Studios, and National Geographic, among others.

On February 7, The Walt Disney Company (NYSE:DIS) released its financial results for the quarter ended December 30, 2023. Its revenue remained nearly constant y-o-y at $23.5 billion while net income increased by 58% y-o-y to $2.2 billion.

Simultaneous to the earnings release, the Board of Directors of The Walt Disney Company (NYSE:DIS) approved a new share repurchase program targeting $3 billion in repurchases during the fiscal year. The Board also declared a cash dividend of $0.45 per share, representing an increase of 50% versus the last dividend.