10 Best Stocks Under $100 To Invest In

8) NIKE, Inc. (NYSE:NKE)

Stock Price as of November 6: $75.32

Number of Hedge Fund Holders: 66

NIKE, Inc. (NYSE:NKE) is engaged in the designing, developing, marketing, and selling of athletic footwear, apparel, equipment, accessories, and services.

NIKE, Inc. (NYSE:NKE) replaced its CEO, bringing back Elliott Hill. He retired in 2020 from the position of President of global commercial and marketing operations. Wall Street analysts view this move as a strategic one as it offers the company a chance to reset its strategy. Moreover, his long tenure with the company should drive organizational and cultural improvements. Also, the rehiring of Tom Peddie as VP of Marketplace Partners should help NIKE, Inc. (NYSE:NKE) in strengthening its relationships with wholesale partners and shifting its distribution strategy.

The company’s strategic initiatives are focused on product innovation, rebuilding wholesale relationships, and marketing investments. After a period of focusing significantly on DTC channels, NIKE, Inc. (NYSE:NKE) continues to look to re-engage with retail partners like Macy’s and DSW. The company’s investments are expected to be inclined towards marketing efforts, with a strong emphasis on brand ambassadors like Caitlin Clark to aid brand engagement.

By focusing on innovation at price points under $100, NIKE, Inc. (NYSE:NKE) is expected to capture a significant share of the market and appeal to cost-sensitive consumers.

Coho Partners, an investment management company released its second quarter 2024 investor letter. Here is what the fund said:

“While we believe each of those companies is performing in line with or better than our expectations and that the moves lower are unjustified, both CVS and NIKE, Inc. (NYSE:NKE) reported disappointing performance in recent results. For Nike, the company reported mixed fourth quarter Fiscal 2024 results and weak Fiscal 2025 guidance, reflecting top line pressure from lifestyle product slowing, lower digital sales and increased macro headwinds in international markets. To manage through the decline in sports footwear and apparel demand, the senior leadership team is focused on cutting costs and reinvesting in marketing and innovation to drive sales. The company is starting to see green shoots for performance product innovation and has historically emerged stronger from these downturns due to benefits from a leading market position and scale.”