5 Best Summer Stocks To Buy Now

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1. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders: 95

The Walt Disney Company (NYSE:DIS) is one of the biggest entertainment companies in the world. The company generates entertainment content under Marvel, Twentieth Century Studios, and Pixar. The Walt Disney Company (NYSE:DIS) also operates theme parks and resorts around the world. In May 2023, The Walt Disney Company (NYSE:DIS) announced a Q1 EPS of $0.93 and a revenue of $21.82 billion. It also reported an increase in the average prices for subscription services – such as ESPN+ and Disney+. The company had previously suspended dividend payouts, following the pandemic in 2020. However, Disney is looking to restore dividends in 2023. It is one of the best summer stocks to watch. 

According to Insider Monkey’s first quarter database, a total of 95 hedge funds were bullish on The Walt Disney Company (NYSE:DIS). During the previous quarter, this number was 99. Nelson Peltz’s Trian Partners held a prominent stake in the company, with 5.9 million shares worth $592.4 million. 

This is what Aristotle Atlantic Partners had to say about The Walt Disney Company (NYSE:DIS) in its Q2 2023 investor letter:

“We sold our position in Disney, as the shift to streaming since the launch of Disney Plus nearly three years ago has been more challenging than expected. Overall company margins have declined, primarily driven by losses in the streaming segment, as Disney Plus strives to attract more subscribers. The focus on growth and profitability in streaming has come at the expense of reduced licensing revenues, as content shifts from the company’s traditional linear networks to Disney Plus. Additionally, Disney is going through this challenging transition amidst upheaval in senior management.”

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