For the purpose of our observation, we choose to focus on the most well-known businesses now operating in the golf industry. We chose these stocks because they have a strong potential for future development, solid fundamentals behind their businesses, and positive analyst coverage. Without further ado, here's the world's most popular golf industry stocks.
Vista Outdoor Inc. (NYSE:VSTO)
American manufacturer and marketer of outdoor sports and recreation goods, Vista Outdoor Inc. (NYSE:VSTO) is a public company in the United States. Vista Outdoor Inc., which trades under the ticker symbol NYSE:VSTO, is a retailer that offers products from more than 40 different brands. In May 2022, the firm announced that it had purchased Foresight Sports, a developer of launch monitors and golf simulators. The company was able to grow into new market areas thanks to the acquisition, which had a value of $475 million.
The United States Army gave Vista Outdoor Inc. (NYSE:VSTO) a contract worth $114 million on August 18 for a few specific products of theirs. August 17, 2027 is projected to be the date in which the contract will be fulfilled.
On September 19, Riley analyst Eric Wold reaffirmed his Buy rating on Vista Outdoor Inc. (NYSE:VSTO) and set a price target of $51 for the stock. The analyst was "increasingly confident" in both the current ammo demand left standing at elevated levels, which you, as an investor, may benefit greatly off of by investing in their stocks through the usage of the best stock trading app australia, and the potential for Vista to attain an increasing market share in core ammo categories after touring the federal ammo manufacturing facility of Vista Outdoor Inc. (NYSE:VSTO).
According to data, there were 25 hedge funds that owned interests in Vista Outdoor Inc. (NYSE:VSTO) worth a total of $278 million at the end of the second quarter of 2022. The Gates Capital Management firm, which is run by Jeffrey Gates, holds the largest stake in the corporation, with 5.6 million shares that are worth $155.5 million in total.
DICK'S Sporting Goods, Inc. (NYSE:DKS)
DICK'S Sporting Goods, Inc., which trades under the ticker symbol "DKS," is a retailer of sporting goods in the United States. In November 2006, the company paid $225 million to buy Golf Galaxy as one of its subsidiaries. DICK'S Sporting Goods, Inc. (NYSE:DKS) now anticipates an adjusted EPS in the range of $10.00 to $12.00 for the full year 2022, compared to a prior EPS estimate in the range of $7.95 to $10.15. The management believes that the company is in a strong position to increase its market leadership and generate sustained growth in both sales and profitability over the long term.
On August 24, the analyst Warren Cheng from Evercore ISI boosted the price target on shares of DICK'S Sporting Goods, Inc. (NYSE:DKS), from $120 to $160, while maintaining an Outperform rating on the company's stock. According to the research analyst, the results of the second quarter provided some primary indications that DICK'S Sporting Goods, Inc.'s (NYSE:DKS) will ultimately settle out somewhere above $11 to $12.
Lone Pine Capital, managed by Stephen Mandel, has the largest stake in DICK'S Sporting Goods, Inc. (NYSE:DKS) among monitored hedge funds. Its holdings in the company are valued at more than $378 million and include more than 5 million shares. At the end of the second quarter of 2022, a total of 28 hedge funds owned stakes in DICK'S Sporting Goods, Inc. (NYSE:DKS) worth $1 billion, compared to 31 firms that held stakes in the company worth $1.14 billion in the previous quarter.
NIKE, Inc. (NYSE:NKE)
American retailer of athletic footwear and apparel NIKE, Inc. (NYSE:NKE) sells a variety of products, including jerseys, shoes and cleats for a variety of sports, including basketball, football association, combat sports, track and field, cross training, ice hockey, golf and tennis for men, women, and children. These products can be used for a variety of sports. Tiger Woods, an American professional golfer who participated in the US open golf championship, has been sponsored by NIKE, Inc. (NYSE:NKE), for the majority of his professional golfing career.
On October 11, the analyst Lorraine Hutchinson from Bank of America noted that bulls continue to be focused on a margin rebound in FY24 for NIKE, Inc. (NYSE:NKE). She cited lowering foreign exchange headwinds as well as a rapid recovery in China as reasons for this optimism.
On October 3, Baird analyst Jonathan Komp up-kept NIKE, Inc. 's (NYSE:NKE) Outperform rating but reduced the price objective on the company from $127 to $100. The analyst said that despite his recent attempts to factor in current macro risks, the company negatively surprised him by revealing robust consumer demand, but much greater inventory and a substantially lower short-term earnings/margin outlook granted necessary actions to clear excess inventory as well as gradual currency movements.
According to data, at the end of the second quarter of 2022, 72 hedge funds had long positions in NIKE, Inc. (NYSE:NKE), which is an increase from the 67 funds that held long positions in the previous quarter. With 8.5 million shares that are valued at approximately $873 million, Fisher Asset Management, which is run by Ken Fisher, is the largest shareholder in the company.
Topgolf Callaway Brands Corp. (NYSE:MODG)
Topgolf Callaway Brands Corp., headquartered in California and trading on the New York Stock Exchange under the ticker symbol "MODG," is a global sports equipment manufacturing firm that designs, manufactures, and sells golf equipment such as clubs, balls, bags, gloves, and caps. Through its subsidiary companies, Topgolf Callaway Brands Corp. (NYSE:MODG) is also engaged in the production of golf apparel and footwear, making it a strong option for individuals who are looking to diversify their investments. Callaway Golf completed the acquisition of Topgolf in 2021, after which the company renamed itself Topgolf Callaway Brands Corp. (NYSE:MODG). Additionally, the corporation runs a chain of golf-themed entertainment facilities.
Topgolf Callaway Brands Corp. (NYSE:MODG) was added to coverage on October 10th by Eric Wold, an analyst at B. Riley, who assigned a Buy rating and a price target of $29 for the stock. The analyst anticipates that traditional golf participation will increase as a result of "long-term tailwinds following the incremental pandemic boost." Additionally, the analyst views the partnership between the company and Topgolf as a natural fit that will generate resilient profitability and growth "as cross-promotion opportunities into traditional golf and apparel come into play."
At the end of June 2022, data showed that 29 hedge funds had a strong position on Topgolf Callaway Brands Corp. (NYSE:MODG). Dmitry Balyasny's Balyasny Asset Management is a big stakeholder in the company, holding 1.85 million shares worth $37.8 million.