1. The Walt Disney Company (NYSE:DIS)
Percentage of Crake Asset Management’s 13F Portfolio: 14.06%
Number of Hedge Fund Holders: 112
The Walt Disney Company (NYSE:DIS) is a California-based entertainment conglomerate that houses flagship film and media brands including Walt Disney Pictures, Walt Disney Animation Studios, Pixar, Marvel Studios, 20th Century Studios, and 20th Century Animation, among others. The Walt Disney Company (NYSE:DIS) also owns and operates Disney World, which is the company’s biggest contribution to tourism.
The Walt Disney Company (NYSE:DIS) is the largest holding in Crake Asset Management’s Q3 portfolio, with the investment firm owning 1.52 million shares in The Walt Disney Company (NYSE:DIS).
At the end of June, 112 hedge funds tracked by Insider Monkey reported owning stakes in The Walt Disney Company (NYSE:DIS), down from 134 in the preceding quarter.
The Walt Disney Company (NYSE:DIS) posted its Q3 earnings results on November 10. EPS for the quarter came in at $0.38, missing estimated EPS by -$0.12. The Walt Disney Company (NYSE:DIS)’s Q3 revenue amounted to $18.53 billion, missing estimates by -$231.82 million. Citi analyst Jason Bazinet lowered the price target on November 17 to $210 from $230 and kept a Buy rating on The Walt Disney Company (NYSE:DIS).
Here is what RiverPark Funds has to say about The Walt Disney Company (NYSE:DIS) in its Q2 2021 investor letter:
“DIS shares declined for the quarter, taking a pause after a big fourth quarter and first quarter stock price advance, as Disney+ subscriber numbers were disappointing to investors. Disney+, the company’s DTC streaming business, had blown past previous subscriber projections, having gone from zero to 104 million in 17 months, but investors were now expecting 109 million subscribers. Management still expects significant continued growth to 230-260 million subscribers in 2024.
DIS is blessed with a deep library of unique content that includes both live sports (providing large, non-time shifted audiences) and incomparable brands including Disney, Marvel, Pixar and Lucasfilm, as well as the ABC network. The company also has a wealth of upcoming new content, expecting over 100 original titles per year, including two new Star Wars spin-off series, 10 Star Wars films, 10 Marvel films, 15 Disney and Pixar films and 15 Disney and Pixar series.
Now that the disruption in its theme park, cruise and theatrical businesses appears to be coming to an end, we believe that Disney is among the best-positioned media companies in the new landscape to combine multi-channel and DTC distribution. We also note that DIS has an extremely strong balance sheet and a growing pool of free cash flow to be used both to return to shareholders and to invest in future opportunities.”
You can also take a look at 12 Best Software Stocks To Buy According To Hedge Funds and 10 Best Stocks Under $10 According to Billionaire Daniel Och’s OZ Management.
