5 Stocks You Should Sell in 2022 According to Billionaire Dan Loeb

2. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders: 113

Looking back to the fourth quarter of 2021, Third Point owned 2 million shares of The Walt Disney Company (NYSE:DIS) which amounted to a stake of $309.78 million. In the first quarter of 2022, billionaire Dan Loeb sold his hedge fund’s position in the company and discarded 100% of its stakes.

The Walt Disney Company (NYSE:DIS) was also named among Goldman Sachs’ top stable stock picks for the current market on June 19. The stock was among Goldman Sachs’ top picks from the communication services sector. On the other hand, Wells Fargo analysts believe The Walt Disney Company (NYSE:DIS) is a risky stock to invest in at the moment and named it among its list of top 50 stocks to short or avoid that was released on June 19.

As of June 15, Evercore ISI analyst Vijay Jayant has an Outperform rating and a $150 price target on The Walt Disney Company (NYSE:DIS).

At the end of the first quarter of 2022, 113 hedge funds were long The Walt Disney Company (NYSE:DIS) with stakes worth $5.16 billion in the company. This is compared to 111 positions in the prior quarter with stakes worth $6.94 billion. The hedge fund sentiment for the stock is negative.

Here is what Harding Loevner had to say about The Walt Disney Company (NYSE:DIS) in its recently published first-quarter 2022 investor letter:

“The war in Ukraine has given new urgency to the question of whether globalization has reached a tipping point and if the familiar web of decentralized, just-in-time, global supply chains will be a casualty of the inward turn dividing countries into competing trading blocs. It is probably too soon to know. We sold Disney (NYSE:DIS), due to some concerns about the increasing capital intensity of its business amid signs of rising competition and slowing growth in streaming media consumption.”