5 Best Retail Stocks To Buy Now

In this article, we will be taking a look at the 5 best retail stocks to buy now. To read our detailed analysis of the retail sector, you can go directly to see the 11 Best Retail Stocks To Buy Now.

5. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 70

NIKE, Inc. (NYSE:NKE) is a footwear retailer. It is based in Beaverton, Oregon.

An Outperform rating was reiterated on NIKE, Inc. (NYSE:NKE) on October 6 by Piral Dadhania at RBC Capital, alongside a $113 price target.

NIKE, Inc. (NYSE:NKE) had 70 hedge funds long its stock in the second quarter, with a total stake value of $2.4 billion.

Here’s what ClearBridge Investments said about NIKE, Inc. (NYSE:NKE) in its second-quarter 2023 investor letter:

“Athletic footwear and apparel company NIKE, Inc. (NYSE:NKE), also a beneficiary of pandemic pull-forward demand, lagged primarily around fears about consumer resilience and potential pressure on Nike’s business in a macroeconomic slowdown.”

4. Mercadolibre, Inc. (NASDAQ:MELI)

Number of Hedge Fund Holders: 77

In total, 77 hedge funds were long Mercadolibre, Inc. (NASDAQ:MELI) in the second quarter, with a total stake value of $3.3 billion.

Mercadolibre, Inc. (NASDAQ:MELI) is a broad-line retail company based in Uruguay. The company operates the Mercado Libre Marketplace, an automated online commerce platform.

New Street Research’s Soomit Datta upgraded Mercadolibre, Inc. (NASDAQ:MELI) from Neutral to Buy on September 1 and announced a $1650 price target on the stock.

Artisan Partners said the following about Mercadolibre, Inc. (NASDAQ:MELI) in its third-quarter 2023 investor letter:

“Top contributors to performance for the quarter included Latin American marketplace MercadoLibre, Inc. (NASDAQ:MELI). MercadoLibre rose as a result of continued share gains across key markets and supportive Brazilian regulations aimed at creating a level playing field in cross-border e-commerce.”

3. Walmart Inc. (NYSE:WMT)

Number of Hedge Fund Holders: 81

A Buy rating and a $196 price target were maintained on Walmart Inc. (NYSE:WMT) on October 25 by Ivan Feinseth at Tigress Financial.

Walmart Inc. (NYSE:WMT) is a consumer staples merchandise retail company. It is based in Bentonville, Arizona.

In the second quarter, 81 hedge funds were long Walmart Inc. (NYSE:WMT). Their total stake value was $5.5 billion.

2. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 112

Alibaba Group Holding Limited (NYSE:BABA) is another broad-line retail company on our list. It is based in Hangzhou, China.

There were 112 hedge funds long Alibaba Group Holding Limited (NYSE:BABA) in the second quarter, with a total stake value of $4.1 billion.

Fawne Jiang at Benchmark reiterated a Buy rating and a $180 price target on Alibaba Group Holding Limited (NYSE:BABA) on October 10.

1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 278

Amazon.com, Inc. (NASDAQ:AMZN) is a big tech company operating in the broad-line retail industry. It is based in Seattle, Washington.

DA Davidson’s Tom Forte maintains a Buy rating and a $157 price target on Amazon.com, Inc. (NASDAQ:AMZN) as of October 27.

At the end of the second quarter, 278 hedge funds held stakes in Amazon.com, Inc. (NASDAQ:AMZN). Their total stake value was $34.9 billion.

This is what White Falcon Capital Management said about Amazon.com, Inc. (NASDAQ:AMZN) in its third-quarter 2023 investor letter:

“There are comparable narratives involving NU Holdings, Amazon.com, Inc. (NASDAQ:AMZN), and Teck Resources, to name a few holdings from the White Falcon portfolio. Amazon constructed its logistics network and cloud computing infrastructure using yesterday’s currency, but it is poised to capitalize on this network with the inflated dollars of tomorrow. In essence, we believe we hold wonderful businesses with growing revenue streams and potential for operating leverage – all at reasonable valuations.”

See also 12 Most Popular Retail Investor Stocks in 2023 and 10 Cheap Retail Stocks to Buy.