Acushnet $GOLF Shares Sold by Fisher Asset Management LLC

Key Points

• Fisher Asset Management trimmed its Acushnet stake by 6.1% in the fourth quarter, selling 43,052 shares and leaving it with 661,099 shares valued at about $52.8 million.
• Acushnet’s recent quarterly results were mixed: revenue beat expectations at $752.98 million, but EPS missed estimates by $0.02. Revenue still rose 7.1% year over year.
• Analyst sentiment remains cautious, with a Hold consensus and average price target of $94.17; the stock also recently declared a quarterly dividend of $0.255 per share.

Fisher Asset Management LLC reduced its holdings in Acushnet (NYSE:GOLF - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 661,099 shares of the company's stock after selling 43,052 shares during the quarter. Fisher Asset Management LLC owned 1.13% of Acushnet worth $52,769,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. increased its position in Acushnet by 389.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company's stock valued at $26,000 after acquiring an additional 261 shares during the period. Kelleher Financial Advisors acquired a new stake in Acushnet in the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its position in Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company's stock valued at $36,000 after acquiring an additional 295 shares during the period. Allworth Financial LP increased its position in Acushnet by 57.3% in the 3rd quarter. Allworth Financial LP now owns 505 shares of the company's stock valued at $40,000 after acquiring an additional 184 shares during the period. Finally, Federated Hermes Inc. increased its position in Acushnet by 197.5% in the 3rd quarter. Federated Hermes Inc. now owns 598 shares of the company's stock valued at $47,000 after acquiring an additional 397 shares during the period. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on GOLF. Zacks Research cut Acushnet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Weiss Ratings upgraded Acushnet from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, May 8th. Truist Financial lifted their price target on Acushnet from $95.00 to $97.00 and gave the company a "hold" rating in a research report on Tuesday, May 19th. Jefferies Financial Group reiterated a "hold" rating on shares of Acushnet in a research report on Thursday, February 26th. Finally, Roth Mkm set a $87.00 price target on Acushnet in a research report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Acushnet currently has an average rating of "Hold" and a consensus price target of $94.17.

Acushnet Stock Performance

Shares of NYSE GOLF opened at $90.01 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 2.87 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 31.69 and a beta of 0.88. The stock's fifty day simple moving average is $93.05 and its 200 day simple moving average is $90.86. Acushnet has a 52-week low of $67.14 and a 52-week high of $104.81.

Acushnet (NYSE:GOLF - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.02). The company had revenue of $752.98 million during the quarter, compared to analyst estimates of $722.48 million. Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The business's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 earnings per share. As a group, sell-side analysts forecast that Acushnet will post 3.82 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, June 5th. Acushnet's payout ratio is presently 35.92%.

Insider Activity

In related news, Director Gregory A. Hewett sold 4,206 shares of Acushnet stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total value of $420,600.00. Following the transaction, the director directly owned 37,017 shares in the company, valued at $3,701,700. The trade was a 10.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 53.30% of the stock is owned by insiders.

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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