33,174 Shares in Acushnet $GOLF Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG acquired 33,174 Acushnet shares worth approximately $3.93 million during the second quarter, giving it a 0.06% stake. Other institutional investors also increased their positions, and institutions collectively own 53.12% of the company.
• Acushnet reported strong quarterly results, with EPS of $2.08 exceeding estimates of $1.63 and revenue rising 13.8% year over year to $819.95 million. The company also declared a quarterly dividend of $0.255 per share, representing a 1.2% annualized yield.
• Shares opened at $86.33, down 3.7%, and remain below their 50-day and 200-day moving averages. Analysts maintain a consensus “Hold” rating with an average price target of $99.17.

Deutsche Bank AG purchased a new position in shares of Acushnet (NYSE:GOLF - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 33,174 shares of the company's stock, valued at approximately $3,932,000. Deutsche Bank AG owned 0.06% of Acushnet as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOLF. Fifth Third Bancorp raised its position in Acushnet by 36,310.7% in the 1st quarter. Fifth Third Bancorp now owns 27,308 shares of the company's stock valued at $2,553,000 after purchasing an additional 27,233 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in Acushnet during the 1st quarter worth $1,140,000. Kennedy Capital Management LLC increased its stake in Acushnet by 11.5% in the fourth quarter. Kennedy Capital Management LLC now owns 217,803 shares of the company's stock valued at $17,385,000 after purchasing an additional 22,424 shares during the period. Capital Research Global Investors raised its holdings in shares of Acushnet by 8.5% in the fourth quarter. Capital Research Global Investors now owns 1,465,000 shares of the company's stock valued at $116,936,000 after buying an additional 115,000 shares during the last quarter. Finally, Edgestream Partners L.P. raised its holdings in shares of Acushnet by 106.5% in the first quarter. Edgestream Partners L.P. now owns 73,742 shares of the company's stock valued at $6,893,000 after buying an additional 38,030 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Insider Activity

In related news, insider Nicholas N. Mohamed sold 529 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the sale, the insider owned 2,868 shares in the company, valued at $272,460. This represents a 15.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 53.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GOLF shares. JPMorgan Chase & Co. raised their price target on Acushnet from $96.00 to $118.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Weiss Ratings raised Acushnet from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Truist Financial lifted their target price on Acushnet from $95.00 to $97.00 and gave the company a "hold" rating in a research note on Tuesday, May 19th. Wall Street Zen raised Acushnet from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Finally, Roth Capital reiterated a "neutral" rating and issued a $95.00 price objective on shares of Acushnet in a research report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Acushnet currently has an average rating of "Hold" and a consensus price target of $99.17.

Acushnet Stock Down 3.7%

Acushnet stock opened at $86.33 on Wednesday. The stock's 50 day moving average price is $104.30 and its 200 day moving average price is $98.10. Acushnet has a 1-year low of $73.09 and a 1-year high of $119.65. The company has a market cap of $5.04 billion, a PE ratio of 23.52 and a beta of 0.81. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.45. The firm had revenue of $819.95 million during the quarter, compared to analysts' expectations of $788.24 million. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.Acushnet's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 earnings per share. On average, sell-side analysts predict that Acushnet will post 4.02 EPS for the current fiscal year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, September 4th. Acushnet's dividend payout ratio (DPR) is presently 27.79%.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company's portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet's product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.

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