5 Best Communication Stocks To Buy Now

4. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders: 111

The Walt Disney Company (NYSE:DIS) is a worldwide media and entertainment giant, operating popular streaming service Disney Plus and a range of theme parks around the globe.

Morgan Stanley analyst Benjamin Swinburne on April 7 gave The Walt Disney Company (NYSE:DIS) an ‘Overweight’ rating and $170 price target. He believes the firm may see the start of a historically strong period of growth at its Parks business, and it is also implementing operational tools and technology at its parks to drive structurally higher growth and incremental margins. He also sees the firm’s success in the streaming business “not priced in at current levels”. Analysts from research firms Goldman Sachs and Loop Capital are also bullish on The Walt Disney Company’s (NYSE:DIS) Parks segment, and have ‘Buy’ ratings on the company shares.

EPS for the fourth quarter was recorded at $1.06 for The Walt Disney Company (NYSE:DIS), beating analysts’ estimates by $0.43. Quarterly revenue stood at $21.82 billion, increasing 34.28% year-on-year and surpassing forecasts by more than $850 million.

111 hedge funds out of the 924 tracked by Insider Monkey held positions in the firm during the fourth quarter, up from 101 hedge funds a quarter ago. The Walt Disney Company’s (NYSE:DIS) leading shareholder during the fourth quarter was Coatue Management, which owned 5.79 million shares worth $897.9 million.

Here is what asset management firm ClearBridge Investments had to say about The Walt Disney Company (NYSE:DIS) in its Q4 2021 investor letter:

“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.”