Oregon Public Employees Retirement Fund Invests $426,000 in Acushnet (NYSE:GOLF)

Oregon Public Employees Retirement Fund acquired a new stake in Acushnet (NYSE:GOLF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,200 shares of the company's stock, valued at approximately $426,000.

Other large investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its position in Acushnet by 6.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company's stock valued at $240,000 after acquiring an additional 203 shares in the last quarter. Heritage Family Offices LLP boosted its position in Acushnet by 7.4% in the 1st quarter. Heritage Family Offices LLP now owns 3,090 shares of the company's stock worth $212,000 after purchasing an additional 212 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Acushnet by 1.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company's stock worth $1,144,000 after purchasing an additional 213 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Acushnet by 1.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company's stock worth $953,000 after purchasing an additional 217 shares during the period. Finally, Berry Wealth Group LP increased its holdings in shares of Acushnet by 8.0% during the 1st quarter. Berry Wealth Group LP now owns 3,075 shares of the company's stock valued at $211,000 after purchasing an additional 229 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Acushnet

In other news, Director Holdings Corp. Misto sold 953,406 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $65.56, for a total value of $62,505,297.36. Following the completion of the sale, the director directly owned 29,523,653 shares in the company, valued at $1,935,570,690.68. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 53.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. KeyCorp reissued an "overweight" rating and set a $80.00 price target (up from $75.00) on shares of Acushnet in a report on Friday, June 27th. Compass Point lowered shares of Acushnet from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. Finally, Truist Financial lifted their price target on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $71.00.

Acushnet Price Performance

NYSE:GOLF traded down $0.29 during trading hours on Friday, reaching $77.96. 280,972 shares of the company were exchanged, compared to its average volume of 398,858. The company has a current ratio of 2.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.19. The firm has a market cap of $4.58 billion, a PE ratio of 21.66 and a beta of 0.84. Acushnet has a twelve month low of $55.31 and a twelve month high of $79.23. The stock's 50-day moving average is $71.52 and its 200-day moving average is $68.25.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.30. Acushnet had a net margin of 9.21% and a return on equity of 26.81%. The firm had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. During the same quarter in the prior year, the firm earned $1.35 EPS. The company's revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.235 per share. The ex-dividend date was Friday, June 6th. This represents a $0.94 annualized dividend and a yield of 1.21%. Acushnet's dividend payout ratio (DPR) is presently 26.11%.

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.