Charles Schwab Investment Management Inc. Boosts Position in Acushnet $GOLF

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Acushnet by 7.1% during the first quarter, now owning 387,315 shares valued at approximately $26.6 million.
• Analysts have varied opinions on Acushnet, with price targets ranging from $65.00 to $85.00 and a consensus rating of "Hold."
• Acushnet recently declared a quarterly dividend of $0.235 per share, resulting in an annualized dividend yield of 1.2%.

Charles Schwab Investment Management Inc. lifted its stake in Acushnet (NYSE:GOLF - Free Report) by 7.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 387,315 shares of the company's stock after purchasing an additional 25,571 shares during the period. Charles Schwab Investment Management Inc. owned about 0.65% of Acushnet worth $26,593,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew 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 acquiring an additional 203 shares in the last quarter. Heritage Family Offices LLP grew its holdings in Acushnet by 7.4% during the 1st quarter. Heritage Family Offices LLP now owns 3,090 shares of the company's stock worth $212,000 after acquiring an additional 212 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Acushnet by 1.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company's stock worth $1,144,000 after acquiring an additional 213 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Acushnet by 1.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company's stock worth $953,000 after acquiring an additional 217 shares in the last quarter. Finally, Berry Wealth Group LP grew 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 acquiring an additional 229 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors.

Insider Activity at Acushnet

In related news, insider Mary Louise Bohn sold 13,190 shares of the 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 completion of the transaction, the insider directly owned 191,786 shares of the company's stock, valued at $15,122,326.10. This trade represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Holdings Corp. Misto sold 953,406 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 29,523,653 shares of the company's stock, valued at $1,935,570,690.68. The trade was a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 53.60% of the company's stock.

Acushnet Stock Performance

Shares of Acushnet stock traded up $1.01 during midday trading on Tuesday, hitting $80.26. The company had a trading volume of 344,979 shares, compared to its average volume of 403,390. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 21.46 and a beta of 0.84. 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 company has a fifty day simple moving average of $77.54 and a 200 day simple moving average of $70.32. 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 quarterly earnings data on Thursday, August 7th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.08). The company 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 earnings per share. As a group, analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

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 given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 5th. Acushnet's dividend payout ratio (DPR) is presently 25.13%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Zacks Research cut shares of Acushnet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Compass Point cut shares of Acushnet from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $80.00 to $71.00 in a report on Monday, May 5th. 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 report on Thursday, May 8th. 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 report on Friday, July 18th. Finally, KeyCorp increased 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. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock 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.