5 Best Clothing Stocks to Buy Now

4. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 70

NIKE, Inc. (NYSE:NKE) markets athletic footwear and apparel. On November 16, Truist analyst Joseph Civello initiated coverage of NIKE, Inc. (NYSE:NKE) stock with a Hold rating and a price target of $108, noting there was bullish sentiment around athletic apparel and footwear trends.

Among the hedge funds being tracked by Insider Monkey, London-based investment firm Fundsmith LLP is a leading shareholder in NIKE, Inc. (NYSE:NKE) with 6.7 million shares worth more than $640 million.  

In its Q2 2023 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and NIKE, Inc. (NYSE:NKE) was one of them. Here is what the fund said:

“Athletic footwear and apparel company NIKE, Inc. (NYSE:NKE), also a beneficiary of pandemic pull-forward demand, lagged primarily around fears about consumer resilience and potential pressure on Nike’s business in a macroeconomic slowdown.”