5 Best Summer Stocks To Buy Now

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1. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders: 111

The Walt Disney Company (NYSE:DIS) is an entertainment conglomerate which operates a global network of theme parks. As the world returns to pre-pandemic normalcy, shares of The Walt Disney Company (NYSE:DIS) stand to benefit as one of the most premium entertainment destinations for tourists around the world.

Rosenblatt analyst Barton Crockett on April 19 initiated coverage of The Walt Disney Company (NYSE:DIS) with a ‘Buy’ rating and a $177 price target. He notes the firm’s theme parks are enjoying the “strongest demand ever”, and sees the resumption of international travel and Disney’s cruise ships as catalysts in the near future driving further growth for the firm.

For the fourth quarter, The Walt Disney Company (NYSE:DIS) posted an EPS of $1.06, beating estimates by $0.44. Revenue of $21.8 billion for the quarter was $943.3 million above analysts’ estimates, and recorded a jump of 34.28% year-on-year.

Investors were seen piling into The Walt Disney Company (NYSE:DIS). At the end of the fourth quarter, 111 hedge funds held stakes in the company, as compared to 101 hedge funds a quarter ago. Coatue Management was the largest shareholder of The Walt Disney Company (NYSE:DIS) in Q4 2021, with a stake worth more than $897 million.

Investment firm ClearBridge Investments talked about The Walt Disney Company (NYSE:DIS) in its Q4 2021 investor letter. Here’s what the fund said:

“The communication services sector was a weak spot in both the benchmark and the portfolio in the fourth quarter. Disney announced lower than expected streaming subscriber growth to the company’s Disney+ offering, attributable primarily to the content release schedule. Disney has been ramping up content spending given strong global response to Disney+, although production capability was temporarily impacted by COVID-19. We still believe Disney is on track to reach the subscriber outlook outlined at its December 2020 analyst day, driven by a very robust slate of content releases, particularly in the 2022–2024 time period.”

You can also take a look at 10 Best Bank Stocks To Buy Now and 10 Best Education Stocks To Buy Now

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