5 Best Consumer Discretionary Stocks to Buy

4. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 72

Premium footwear and apparel maker NIKE, Inc. (NYSE:NKE) has fallen 43% year to date as macro headwinds and industry specific challenges have weighed on the company’s earnings results. While the near term is still uncertain, Rick Patel of Raymond James takes the long view and has a $99 price target and an ‘Outperform’ rating given NIKE, Inc. (NYSE:NKE)’s competitive advantages. 72 hedge funds in our database were long NIKE, Inc. (NYSE:NKE) at the end of Q2 2022.