Acushnet Holdings Corp. (NYSE:GOLF) Declares $0.24 Quarterly Dividend

Acushnet Holdings Corp. (NYSE:GOLF - Get Free Report) announced a quarterly dividend on Wednesday, May 7th, RTT News reports. Investors of record on Friday, June 6th will be paid a dividend of 0.235 per share on Friday, June 20th. This represents a $0.94 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, June 6th.

Acushnet has increased its dividend payment by an average of 9.2% annually over the last three years and has raised its dividend every year for the last 8 years. Acushnet has a payout ratio of 25.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Acushnet to earn $3.35 per share next year, which means the company should continue to be able to cover its $0.94 annual dividend with an expected future payout ratio of 28.1%.

Acushnet Stock Performance

GOLF stock traded up $3.23 during midday trading on Monday, reaching $71.07. The company had a trading volume of 244,946 shares, compared to its average volume of 372,555. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The stock has a 50 day moving average price of $64.46 and a 200 day moving average price of $67.59. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $76.65. The firm has a market capitalization of $4.27 billion, a PE ratio of 24.18 and a beta of 0.90.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.30. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. During the same period in the previous year, the firm posted $1.35 earnings per share. The business's revenue was down .6% on a year-over-year basis. Analysts anticipate that Acushnet will post 3.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

GOLF has been the topic of a number of research reports. Compass Point downgraded shares of Acushnet from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. StockNews.com cut shares of Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Truist Financial increased their target price on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday. JPMorgan Chase & Co. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and dropped their price objective for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. Finally, KeyCorp raised their price target on shares of Acushnet from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Acushnet currently has a consensus rating of "Hold" and an average price target of $70.00.

Insider Transactions at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the sale, the insider now owns 96,006 shares in the company, valued at $6,802,985.16. This represents a 17.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 54.60% of the stock is owned by insiders.

About Acushnet

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.