Billionaire Ken Griffin is Selling These 5 Stocks

2. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 67

NIKE, Inc. (NYSE:NKE) is an American company that mainly deals in footwear, apparel, accessories, and equipment. On November 18, the company announced an 11%  growth in its quarterly dividend at $0.305 per share. The stock’s current dividend yield stands at 0.71%.

This October, Goldman Sachs initiated its coverage on NIKE, Inc. (NYSE:NKE) with a Buy rating and a $172 price target, appreciating the company’s high cash balance. In its fiscal Q1 2022 earnings, NIKE, Inc. (NYSE:NKE) reported a 15.6% year-over-year growth in its revenue at $12.2 billion. In Q3, the company is not included in Ken Griffin’s portfolio.

Of the 873 elite funds tracked by Insider Monkey, 67 hedge funds held stakes in NIKE, Inc. (NYSE:NKE) in Q2, compared with 78 in the previous quarter. These stakes are valued at over $6.4 billion, up significantly from $5.1 billion in Q1.