5 Best Stocks To Invest In 2023 For Beginners

4. NIKE, Inc. (NYSE:NKE)

Revenue Growth (YoY): 8.13%

3-Year Revenue Growth: 7.04%

Number of Hedge Fund Holders: 71

On April 10, BMO Capital analyst Simeon Siegel maintained an Outperform rating and his $120 price target on NIKE, Inc. (NYSE:NKE).

On March 21, NIKE, Inc. (NYSE:NKE) announced earnings for the fiscal third quarter of 2023. The company reported an EPS of $0.79 and outperformed EPS estimates by $0.24. The company generated a revenue of $12.39 billion, up 13.97% year over year and ahead of Wall Street estimates by $908.80 million.

In fiscal 2022, NIKE, Inc. (NYSE:NKE) grew its revenue by 8.13% year over year. The company has a 3-year revenue CAGR of 7.04%. NIKE, Inc. (NYSE:NKE) is placed fourth on our list of the best beginner stocks to buy now.

NIKE, Inc. (NYSE:NKE) was a part of 71 hedge funds’ portfolios at the close of the fourth quarter of 2022. These funds held collective positions worth $4 billion in the company. As of December 31, Fundsmith LLP is the largest investor in the company and has a stake worth $787 million.

ClearBridge Investments made the following comment about NIKE, Inc. (NYSE:NKE) in its Q4 2022 investor letter:

“NIKE, Inc. (NYSE:NKE) has been pressured by an uneven global recovery that led to surplus inventory. We added to the position earlier in the year with the view that its inventory write-down should not derail the company’s long-term high-single-digit revenue growth or the margin expansion from its enhanced focus on the direct-to-consumer business. While near-term earnings estimates may have some risk, much of the multiple contraction is in the current value of Nike shares and sentiment has shifted, with the shares bouncing 40% higher during the quarter. Netflix is another earnings reset name that has taken decisive actions, developing an ad-supported subscription tier and cracking down on password sharing, that have helped its shares rerate strongly.”