5 Best Fitness Stocks To Invest In

In this article, we discuss 5 best fitness stocks to invest in. If you want to read about some more fitness stocks, go directly to 11 Best Fitness Stocks To Invest In.

5. DICK’S Sporting Goods, Inc. (NYSE:DKS)

Number of Hedge Fund Holders: 28 

DICK’S Sporting Goods, Inc. (NYSE:DKS) operates as a sporting goods retailer primarily in the eastern United States. It is one of the best fitness stocks to invest in. The company recently announced a new partnership with fitness firm Peloton Interactive. Under the arrangement, the firm will sell the hardware products of the latter and select accessories via branded fitness shops inside more than 100 DKS US retail locations. 

On August 24, UBS analyst Michael Lasser maintained a Neutral rating on DICK’S Sporting Goods, Inc. (NYSE:DKS) stock and raised the price target to $112 from $102, appreciating the second quarter earnings results of the firm. 

Among the hedge funds being tracked by Insider Monkey, Washington-based firm Lone Pine Capital is a leading shareholder in DICK’S Sporting Goods, Inc. (NYSE:DKS), with 5 million shares worth more than $338 million. 

In its Q1 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and DICK’S Sporting Goods, Inc. (NYSE:DKS) was one of them. Here is what the fund said:

“DICK’S Sporting Goods, Inc. (NYSE:DKS) was the first stock Michael recommended to us shortly after he joined Baron Capital in 2003. Dick’s share price has since increased about nine-fold. Unfortunately, we sold our investment in Dick’s about six years ago and, although it was a successful investment, we did not realize the full benefit of Michael’s recommendation. We sold too soon because I was concerned that competition from internet retailers would have a permanent negative impact on Dick’s stores’ profitability. I was wrong. Dick’s stock price so far has about doubled after we sold…and its prospects have brightened!

We sold even though we considered Ed Stack, Dick’s Chairman and CEO, a terrific retailer, a great entrepreneur and a special person. Ed had built Dick’s from three bait and tackle stores his dad started into a uniquely positioned, nationwide chain of 730 sporting goods stores. In fact, Dick’s is now the largest nationwide sporting goods chain. Ed had purchased the three bait and tackle stores, the foundation of Dick’s business, from his dad. Ed’s mother loaned him the money to buy his dad’s stores! I’m not exactly sure what that signifies. But it may have something to do with Carl Icahn’s proclamation that “everything I have is for sale except my children…and maybe my wife (…read more)