Jim Cramer’s 10 Stock Picks Heading Into June

3. Walt Disney Co (NYSE:DIS)

Number of Hedge Fund Investors: 92

In a latest program on CNBC, Jim Cramer said that while Nelson Peltz has “cleared out of” Walt Disney Co (NYSE:DIS), “I am in.” Cramer thinks Disney is “not something you should run away from.” Cramer said that he doesn’t “care” if Nelson is out.

“At these prices Nelson would probably join me in wanting to be in the situation.”

Nelson Peltz recently liquidated his entire stake in Walt Disney Co (NYSE:DIS) after losing a proxy battle at Walt Disney Co (NYSE:DIS). Media reports suggest that he netted a whopping $1 billion in return on the sale, as he sold the stake at around $120 a share.

As of the end of the first quarter of 2024, 92 hedge funds reported owning stakes in Walt Disney Co (NYSE:DIS), including Nelson Peltz’s Trian Partners. Trian’s stake in Walt Disney Co (NYSE:DIS) was worth around $4 billion.

Walt Disney Co (NYSE:DIS) CEO Bob Iger recently revealed at a conference that Walt Disney Co (NYSE:DIS) would cut marketing costs and increase spending on streaming. Iger also said Walt Disney Co (NYSE:DIS) would increase spending on linear television content.