Top 5 Fitness Stocks to Buy Now

1. Nike, Inc. (NYSE:NKE)

No of HFs: 75

Total Value of HF Holdings: $4.2 Billion

The top one fitness stock to buy now is Nike, Inc. an American multinational corporation with headquarters located in Beaverton, Oregon in the Portland metropolitan area. They are engaged in the design, production, and marketing of footwear, apparel, equipment, accessories, and services. During the fiscal 2020 fourth quarter, the company reported a digital sales increase of 75%.

UCLA Athletics recently announced a six-year agreement with Nike, Inc. to make Jordan Brand the Bruins’ official athletic footwear, apparel, and equipment provider beginning July 1, 2021. UCLA Director of Athletics Martin Jarmond said,

“UCLA is elite, and our student-athletes deserve every resource in their pursuit of excellence. We sought to partner with the best in the world; that is Nike and Jordan Brand. Going into this process, our top priority was to secure the best quality and most innovative product to help our student-athletes and coaches compete for championships.”

The top hedge fund holder is Ken Fisher’s Fisher Asset Management with over $820 million invested in the stock at the end of September.

Nike was mentioned as the top 10 blue-chip stock in the 15 Best Blue Chip Stocks to Buy Now. Click here to check out the other blue-chip stocks to buy now.

In a separate article, Polen Capital’s investor highlighted NKE and this is what he had to say:

“The adjustments to Nike and Adidas were a function of COVID-19 spread mitigation policy impacts and price. We believe both companies possess multiple competitive advantages working in concert that should allow them to emerge even stronger relative to competitors once humanity normalizes. However, the fact remains that the majority of their brick-and-mortar stores globally were closed. We applaud the business’s capital allocation to create true omnichannel capabilities in recent years, but these efforts likely will not be enough to offset the lack of business from other areas impacted by the coronavirus. We remain confident in both companies long term, but we are mindful of the challenges of operating in the current retail environment and believe our position weightings reflect this awareness.”

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Disclosure: None.