5 Best Diversified Stocks to Buy Now

In this article, we discuss the 5 best diversified stocks to buy now. If you want to read a detailed analysis including the pros and cons of diversified companies, go directly to the 11 Best Diversified Stocks to Buy Now.

5. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders: 99

The Walt Disney Company (NYSE:DIS) is a California-based mass media and entertainment conglomerate. The company operates entertainment studios, media networks, theme parks, and resorts. The Walt Disney Company (NYSE:DIS) also has investments in the gaming industry and real estate sector.

On February 13, JPMorgan analyst Philip Cusick resumed coverage on The Walt Disney Company (NYSE:DIS) shares with an Overweight rating and a $135 price target.

The Walt Disney Company (NYSE:DIS)’s shares were held by 99 hedge funds in the fourth quarter of 2022. Trian Partners initiated its position in the company in Q4 with approximately 9.03 million shares worth around $784.509 million, making it the most significant stakeholder of the company in the quarter.

Here is what ClearBridge Investments had to say about The Walt Disney Company (NYSE:DIS) in its fourth-quarter 2022 investor letter:

“We exited The Walt Disney Company (NYSE:DIS) to focus on areas of the media industry with better risk/reward. Disney has significant exposure to consumer spending that is showing early signs of weakening. We decided to move on from the name as its traditional linear programming business is dissolving more quickly than expected, while its Disney+ streaming business cannot offset the affiliate fees and advertising revenue that the company has relied on for years. Disney’s parks business has done well recently due to strong pricing power but we have concerns that consumers will continue to spend on such discretionary purchases in a recessionary environment. At this point in the cycle, we believe Netflix has more ways to innovate and improve profitability.”