Louisiana State Employees Retirement System Acquires Shares of 12,900 Acushnet (NYSE:GOLF)

Louisiana State Employees Retirement System acquired a new stake in shares of Acushnet (NYSE:GOLF - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,900 shares of the company's stock, valued at approximately $886,000.

A number of other institutional investors also recently added to or reduced their stakes in GOLF. Public Employees Retirement System of Ohio bought a new position in Acushnet in the 4th quarter worth approximately $31,000. KBC Group NV bought a new position in Acushnet in the 1st quarter worth approximately $44,000. GAMMA Investing LLC raised its position in Acushnet by 96.1% in the 1st quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after purchasing an additional 319 shares during the last quarter. Lazard Asset Management LLC bought a new position in Acushnet in the 4th quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in Acushnet by 39.6% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock worth $58,000 after purchasing an additional 232 shares during the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Holdings Corp. Misto sold 953,406 shares of Acushnet stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the transaction, the director owned 29,523,653 shares in the company, valued at approximately $1,935,570,690.68. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 53.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOLF has been the subject of several recent research reports. KeyCorp reiterated an "overweight" rating and set a $80.00 target price (up previously from $75.00) on shares of Acushnet in a research report on Friday, June 27th. Truist Financial upped their target price on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Compass Point cut shares of Acushnet from a "buy" rating to a "neutral" rating and dropped their target price for the company from $80.00 to $71.00 in a research report on Monday, May 5th. Finally, Morgan Stanley upped their target price on shares of Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Acushnet currently has an average rating of "Hold" and a consensus price target of $72.50.

Acushnet Stock Performance

Shares of GOLF traded up $0.58 during mid-day trading on Friday, hitting $80.87. 302,767 shares of the company's stock were exchanged, compared to its average volume of 399,770. Acushnet has a 52 week low of $55.31 and a 52 week high of $81.58. The stock's 50-day simple moving average is $72.72 and its 200-day simple moving average is $68.53. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 22.46 and a beta of 0.84. The company has a quick ratio of 1.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.19.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $703.37 million for the quarter, compared to analyst estimates of $697.82 million. Acushnet had a net margin of 9.21% and a return on equity of 26.81%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS. On average, equities research analysts expect that Acushnet will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.235 dividend. The ex-dividend date was Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a yield of 1.16%. Acushnet's dividend payout ratio is currently 26.11%.

Acushnet Profile

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.