Acushnet $GOLF Stock Holdings Lessened by Callan Family Office LLC

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 decreased its stake in Acushnet (NYSE:GOLF - Free Report) by 72.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board purchased a new position in Acushnet in the 1st quarter worth approximately $5,958,000. Nuveen LLC acquired a new position in Acushnet during the first quarter worth $9,376,000. Invesco Ltd. grew its holdings in Acushnet by 17.8% in the 1st quarter. Invesco Ltd. now owns 501,898 shares of the company's stock valued at $34,460,000 after buying an additional 75,892 shares in the last quarter. Cynosure Group LLC raised its stake in Acushnet by 32.9% during the first quarter. Cynosure Group LLC now owns 5,224 shares of the company's stock worth $359,000 after purchasing an additional 1,293 shares during the period. Finally, Maryland State Retirement & Pension System acquired a new position in Acushnet in the first quarter valued at approximately $548,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Acushnet news, Director Holdings Corp. Misto sold 953,406 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the transaction, the director directly owned 29,523,653 shares in the company, valued at $1,935,570,690.68. This represents a 3.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mary Louise Bohn sold 13,190 shares of the business's stock in a transaction dated 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 completion of the sale, the insider directly owned 191,786 shares of the company's stock, 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. 53.60% of the stock is owned by company insiders.

Analyst Ratings Changes

GOLF has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Compass Point downgraded shares of Acushnet from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. KeyCorp raised their price objective on shares of Acushnet from $80.00 to $85.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, Truist Financial raised their price target on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Acushnet presently has a consensus rating of "Hold" and a consensus price target of $73.33.

Acushnet Stock Performance

Shares of NYSE GOLF traded up $0.31 during mid-day trading on Tuesday, hitting $78.24. 51,146 shares of the company were exchanged, compared to its average volume of 476,601. The stock has a 50 day simple moving average of $76.70 and a 200-day simple moving average of $69.78. Acushnet has a 1-year low of $55.31 and a 1-year high of $84.40. The company has a quick ratio of 1.21, a current ratio of 2.25 and a debt-to-equity ratio of 1.13. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 20.90 and a beta of 0.84.

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

Acushnet Dividend Announcement

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

About Acushnet

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.