Billionaire Investors Are Buying Nike. Should You Follow Them?
Nike (NYSE: NKE) is one of the best-performing consumer goods stocks of all time. Shares are up more than 46,000% since the company's 1980 initial public offering and would have turned a $1,000 investment into more than $767,120 during that time (with dividends reinvested).
More recently, Nike's stock has struggled, and it's down more than 52% from its peak in mid-2021. Growth has slowed, even turning negative recently as the athletic shoe and apparel manufacturer lost market share to younger rivals like On Holding and Deckers' Hoka brand. Its strategic shift to the direct-to-consumer channel, which came along with an underinvestment in brand marketing, now seems to be backfiring.
While Nike's struggles are evident, some investors are exploring the opportunity that comes with a sell-off of a longtime industry leader. Let's take a look at a few of the billionaire investors who just scooped up shares of Nike at a discount.
Source Fool.com
Nike Inc. B Stock
The stock is one of the favorites of our community with 61 Buy predictions and 3 Sell predictions.
With a target price of 110 € there is a positive potential of 45.91% for Nike Inc. B compared to the current price of 75.39 €.
