Acushnet $GOLF is Lansdowne Partners UK LLP's 7th Largest Position

Key Points

• Lansdowne Partners UK LLP has decreased its stake in Acushnet by 3.7%, now holding approximately 542,284 shares, making it the firm's 7th biggest holding.
• Acushnet has announced a quarterly dividend of $0.235, scheduled for payment on September 19th, representing an annual yield of 1.2%.
• The company reported $1.25 EPS for the last quarter, missing the consensus estimate, but showed a 5.4% increase in revenue compared to the previous year.

Lansdowne Partners UK LLP reduced its holdings in Acushnet (NYSE:GOLF - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 542,284 shares of the company's stock after selling 20,912 shares during the quarter. Acushnet makes up about 5.3% of Lansdowne Partners UK LLP's portfolio, making the stock its 7th largest holding. Lansdowne Partners UK LLP owned about 0.92% of Acushnet worth $37,233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOLF. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Acushnet by 6.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company's stock valued at $240,000 after purchasing an additional 203 shares during the last quarter. Heritage Family Offices LLP boosted its stake in shares of Acushnet by 7.4% in the 1st quarter. Heritage Family Offices LLP now owns 3,090 shares of the company's stock valued at $212,000 after purchasing an additional 212 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Acushnet by 1.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company's stock valued at $1,144,000 after purchasing an additional 213 shares during the last quarter. Berry Wealth Group LP boosted its stake in shares of Acushnet by 8.0% in 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 during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in Acushnet by 39.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock worth $58,000 after acquiring an additional 232 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Acushnet

In related news, insider Mary Louise Bohn sold 13,190 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $78.85, for a total transaction of $1,040,031.50. Following the completion of the sale, the insider owned 191,786 shares in the company, valued at approximately $15,122,326.10. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Holdings Corp. Misto sold 953,406 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the sale, the director owned 29,523,653 shares of the company's stock, valued at $1,935,570,690.68. This trade represents a 3.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 53.60% of the company's stock.

Acushnet Stock Down 1.9%

Shares of GOLF stock traded down $1.43 on Tuesday, hitting $75.22. The stock had a trading volume of 102,832 shares, compared to its average volume of 474,106. The business has a 50 day moving average of $77.97 and a 200 day moving average of $70.62. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 20.11 and a beta of 0.90. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.25 and a quick ratio of 1.21. Acushnet has a 12-month low of $55.31 and a 12-month high of $84.40.

Acushnet (NYSE:GOLF - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.08). The firm had revenue of $720.48 million during the quarter, compared to analysts' expectations of $713.70 million. Acushnet had a net margin of 9.24% and a return on equity of 28.05%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. As a group, analysts expect that Acushnet will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 5th. Acushnet's dividend payout ratio (DPR) is 25.13%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. KeyCorp increased their target price on shares of Acushnet from $80.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Compass Point lowered shares of Acushnet from a "buy" rating to a "neutral" rating and cut their target price for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. Zacks Research lowered shares of Acushnet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Finally, Truist Financial increased their target price on shares of Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $73.33.

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.