#6 - Nike (NYSE:NKE)
If you’re uncomfortable investing in pharmaceutical stocks, there are other angles to play that allow you to profit from the weight loss craze. One of those is to invest in fitness stocks. Nike, Inc. (NYSE: NKE) is one stock to watch closely. NKE stock is down 7.6% as 2023 comes to a close, but the stock is up nearly 20% in the last three months.
Trading at around 29x forward earnings, Nike is considered a premium stock. That hasn’t been a problem for the company until recently. Now investors are wondering if the company’s best days are behind it as the shoe market continues to become more competitive.
However, Nike still dominates the China market, but some investors are discounting that angle as growth in China remains sluggish.
The company has successfully pivoted to a direct-to-consumer model, they have a strong balance sheet and offer investors a safe, albeit not particularly impressive, dividend with a 1.37% yield.
About NIKE
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.
Read More - Current Price
- $71.31
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 16 Buy Ratings, 14 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $89.58 (25.6% Upside)
