5 Best Sporting Goods Stocks To Invest In

In this article, we discuss the 5 best sporting goods stocks to invest in. If you want to see more stocks in this selection as well as get some insight into the market, click 10 Best Sporting Goods Stocks To Invest In.

5. Vista Outdoor Inc. (NYSE:VSTO)

Number Of Hedge Fund Holders: 25

Vista Outdoor Inc. (NYSE:VSTO) is an American designer, manufacturer, and marketer of outdoor sports and recreation products that operates in two markets: shooting sports and outdoor products. The company has performed tremendously in fiscal 2022, delivering 37% revenue gains and outstanding margin expansion to each of its segments.

According to the company’s earnings report, Vista Outdoor Inc. (NYSE:VSTO) reached a record $809 million in sales in Q4 2022, a 36% increase over Q4 2021. Of these, $464 million came from the sporting goods segment, which was driven by an overall strong demand and increased volume sold after the Remington acquisition. On the other hand, the outdoor product segment generated $364 million, led by a growth in action sports and outdoor accessories.

At the end of the fourth quarter of 2021, 25 hedge funds in the database of Insider Monkey held stakes worth $460 million in Vista Outdoor Inc. (NYSE:VSTO), compared to 23 in the preceding quarter worth $407 million. Of these, New York-based investment firm Gates Capital Management is a leading shareholder in Vista Outdoor Inc. (NYSE:VSTO) with 5.3 million shares worth more than $246 million.

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Vista Outdoor Inc. (NYSE:VSTO) was one of them. Here is what the fund said:

“Our Strategy outperformed with strong results from consumer discretionary stocks like Vista Outdoor Inc. (NYSE:VSTO). Vista Outdoor Inc. (NYSE:VSTO), a manufacturer of a wide range of products serving the outdoor sports and recreation markets, also performed well in the period on continued demand and growing margins.”