Callan Family Office LLC Acquires 85,737 Shares of Acushnet $GOLF

Key Points

• Callan Family Office LLC increased its stake in Acushnet (NYSE:GOLF) by 1,313.0%, acquiring 85,737 shares during the 2nd quarter, bringing its total ownership to approximately 92,267 shares valued at $6.72 million.
• Acushnet recently announced a quarterly dividend of $0.235 per share, with a dividend yield of 1.2% and a payout ratio of 25.13%.
• Analysts have mixed views on Acushnet's stock, with ratings ranging from buy to hold, and a target price varying from $63.00 to $85.00.

Callan Family Office LLC grew its holdings in Acushnet (NYSE:GOLF - Free Report) by 1,313.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,267 shares of the company's stock after purchasing an additional 85,737 shares during the quarter. Callan Family Office LLC owned approximately 0.16% of Acushnet worth $6,719,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GOLF. Cambridge Investment Research Advisors Inc. raised its holdings in Acushnet by 6.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company's stock worth $240,000 after buying an additional 203 shares during the period. Berry Wealth Group LP raised its holdings in Acushnet by 8.0% during the 1st quarter. Berry Wealth Group LP now owns 3,075 shares of the company's stock worth $211,000 after buying an additional 229 shares during the period. GAMMA Investing LLC raised its holdings in Acushnet by 96.1% during the 1st quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after buying an additional 319 shares during the period. Cetera Investment Advisers raised its holdings in Acushnet by 10.4% during the 1st quarter. Cetera Investment Advisers now owns 3,965 shares of the company's stock worth $272,000 after buying an additional 374 shares during the period. Finally, Corebridge Financial Inc. raised its holdings in Acushnet by 3.2% during the 1st quarter. Corebridge Financial Inc. now owns 14,521 shares of the company's stock worth $997,000 after buying an additional 450 shares during the period. Institutional investors own 53.12% of the company's stock.

Acushnet Price Performance

NYSE:GOLF opened at $80.67 on Friday. Acushnet has a 1-year low of $55.31 and a 1-year high of $84.40. The company has a current ratio of 2.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13. The firm has a fifty day simple moving average of $77.32 and a 200 day simple moving average of $72.56. The stock has a market capitalization of $4.73 billion, a PE ratio of 21.57 and a beta of 0.89.

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

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were paid a $0.235 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.94 annualized dividend and a dividend yield of 1.2%. Acushnet's dividend payout ratio (DPR) is currently 25.13%.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Mary Louise Bohn sold 13,190 shares of Acushnet stock in a transaction on 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 transaction, the insider directly owned 191,786 shares of the company's stock, valued at $15,122,326.10. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 53.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on GOLF shares. Morgan Stanley raised their target price on shares of Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. KeyCorp raised their target price on shares of Acushnet from $80.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Zacks Research downgraded shares of Acushnet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Acushnet in a report on Wednesday. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Acushnet presently has an average rating of "Hold" and an average target price of $73.00.

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.

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