Acushnet $GOLF Stock Position Increased by Neumeier Poma Investment Counsel LLC

Key Points

• Neumeier Poma Investment Counsel LLC increased its Acushnet stake by 51.7% in the fourth quarter, buying 130,990 more shares and bringing its total to 384,424 shares worth about $30.7 million.
• Acushnet reported quarterly earnings of $1.36 per share, missing estimates by $0.02, though revenue of $752.98 million topped expectations and rose 7.1% year over year.
• The company announced a quarterly dividend of $0.255 per share, payable June 22, while analysts currently rate the stock a consensus Hold with an average target price of $94.17.

Neumeier Poma Investment Counsel LLC boosted its position in Acushnet (NYSE:GOLF - Free Report) by 51.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 384,424 shares of the company's stock after purchasing an additional 130,990 shares during the quarter. Acushnet comprises 2.5% of Neumeier Poma Investment Counsel LLC's holdings, making the stock its 18th biggest position. Neumeier Poma Investment Counsel LLC owned approximately 0.66% of Acushnet worth $30,685,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GOLF. Royal Bank of Canada lifted its position in Acushnet by 6.6% in the 1st quarter. Royal Bank of Canada now owns 88,703 shares of the company's stock valued at $6,090,000 after purchasing an additional 5,510 shares during the last quarter. AQR Capital Management LLC lifted its position in Acushnet by 2.5% in the 1st quarter. AQR Capital Management LLC now owns 19,498 shares of the company's stock valued at $1,339,000 after purchasing an additional 475 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Acushnet by 13.5% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,603 shares of the company's stock valued at $316,000 after purchasing an additional 548 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Acushnet by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company's stock worth $1,137,000 after buying an additional 460 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Acushnet by 39.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company's stock worth $17,152,000 after buying an additional 70,095 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors.

Acushnet Trading Up 1.6%

Shares of NYSE:GOLF opened at $89.17 on Friday. The company has a 50 day moving average of $92.52 and a 200-day moving average of $91.30. The firm has a market cap of $5.22 billion, a P/E ratio of 31.40 and a beta of 0.85. Acushnet has a twelve month low of $69.54 and a twelve month high of $104.81. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36.

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

Acushnet Dividend Announcement

The firm 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 at Acushnet

In related news, insider Steven Francis Pelisek sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $91.26, for a total value of $1,368,900.00. Following the sale, the insider directly owned 70,512 shares in the company, valued at $6,434,925.12. The trade was a 17.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 53.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a "hold" rating on shares of Acushnet in a research note on Thursday, February 26th. Roth Mkm set a $87.00 price target on shares of Acushnet in a research note on Thursday, May 7th. Truist Financial upped their price target on shares of Acushnet from $95.00 to $97.00 and gave the stock a "hold" rating in a research note on Tuesday, May 19th. UBS Group set a $100.00 price target on shares of Acushnet in a research note on Thursday, February 26th. Finally, Zacks Research lowered shares of Acushnet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $94.17.

About Acushnet

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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