Callan Family Office LLC Has $448,000 Holdings in Acushnet $GOLF

Key Points

• Callan Family Office LLC significantly reduced its ownership in Acushnet by 72.4% in Q1, selling 17,166 shares to hold 6,530 shares valued at $448,000.
• Despite a slight drop in stock price, Acushnet reported $1.25 EPS in its latest quarter, missing estimates but achieving a revenue of $720.48 million, which was above expectations.
• Acushnet recently announced a quarterly dividend of $0.235, reflecting an annualized yield of 1.2%, with a payout ratio of 25.13%.

Callan Family Office LLC cut its position in shares of Acushnet (NYSE:GOLF - Free Report) by 72.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 6,530 shares of the company's stock after selling 17,166 shares during the quarter. Callan Family Office LLC's holdings in Acushnet were worth $448,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in Acushnet during the 4th quarter valued at about $31,000. KBC Group NV purchased a new position in Acushnet in the first quarter valued at about $44,000. GAMMA Investing LLC grew its stake in Acushnet by 96.1% in the first quarter. GAMMA Investing LLC now owns 651 shares of the company's stock valued at $45,000 after purchasing an additional 319 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Acushnet in the fourth quarter valued at about $51,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in Acushnet by 39.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock valued at $58,000 after purchasing an additional 232 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Holdings Corp. Misto sold 953,406 shares of the business's stock in a transaction that occurred on 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 directly owned 29,523,653 shares in the company, valued at approximately $1,935,570,690.68. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mary Louise Bohn sold 13,190 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $78.85, for a total value of $1,040,031.50. Following the sale, the insider owned 191,786 shares in the company, valued at approximately $15,122,326.10. This represents a 6.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 53.60% of the company's stock.

Acushnet Stock Performance

Shares of NYSE GOLF traded down $0.44 during trading hours on Monday, hitting $77.75. 165,563 shares of the company's stock were exchanged, compared to its average volume of 478,355. Acushnet has a 1-year low of $55.31 and a 1-year high of $84.40. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.25 and a quick ratio of 1.21. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 20.76 and a beta of 0.84. The company's 50-day moving average price is $76.60 and its 200-day moving average price is $69.69.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly 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 analyst estimates of $713.70 million. Acushnet had a net margin of 9.24% and a return on equity of 28.05%. The company's revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned $1.11 EPS. On average, sell-side analysts expect that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOLF. Compass Point cut Acushnet from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. Morgan Stanley boosted their target price on Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. KeyCorp boosted their target price on Acushnet from $80.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Finally, Truist Financial boosted their price objective on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $73.33.

Acushnet Company 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.