Charles Schwab Investment Management Inc. Buys 25,571 Shares of 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. grew its stake in Acushnet (NYSE:GOLF - Free Report) by 7.1% in 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 acquiring an additional 25,571 shares during the period. Charles Schwab Investment Management Inc. owned 0.65% of Acushnet worth $26,593,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of GOLF. Vanguard Group Inc. grew its position in shares of Acushnet by 9.6% during the 1st quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company's stock worth $212,205,000 after buying an additional 269,742 shares during the period. Argent Trust Co grew its position in shares of Acushnet by 15.2% during the 1st quarter. Argent Trust Co now owns 3,989 shares of the company's stock worth $274,000 after buying an additional 525 shares during the period. 12th Street Asset Management Company LLC grew its position in shares of Acushnet by 1.5% during the 1st quarter. 12th Street Asset Management Company LLC now owns 122,677 shares of the company's stock worth $8,423,000 after buying an additional 1,794 shares during the period. Natixis Advisors LLC acquired a new stake in shares of Acushnet during the 1st quarter worth approximately $752,000. Finally, XTX Topco Ltd grew its holdings in Acushnet by 37.0% during the first quarter. XTX Topco Ltd now owns 8,077 shares of the company's stock valued at $555,000 after purchasing an additional 2,180 shares during the period. 53.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOLF. KeyCorp boosted 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. Morgan Stanley boosted their price objective on shares of Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Compass Point cut shares of Acushnet from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $80.00 to $71.00 in a report on Monday, May 5th. Finally, Truist Financial boosted their price objective on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a report 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 stock. Based on data from MarketBeat, Acushnet presently has a consensus rating of "Hold" and a consensus target price of $73.33.

Acushnet Stock Down 0.2%

Acushnet stock opened at $78.1980 on Thursday. The stock has a market capitalization of $4.59 billion, a PE ratio of 20.91 and a beta of 0.84. Acushnet has a twelve month low of $55.31 and a twelve month 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 company has a 50 day moving average of $76.91 and a 200-day moving average of $69.90.

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 analysts' consensus estimates of $1.33 by ($0.08). The business had revenue of $720.48 million during the quarter, compared to the consensus estimate of $713.70 million. Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.11 EPS. On average, equities research analysts anticipate that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

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

Insider Activity

In other news, insider Mary Louise Bohn sold 13,190 shares of the firm's stock in a transaction dated 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 sale, the insider owned 191,786 shares in the company, valued at approximately $15,122,326.10. This trade represents a 6.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Holdings Corp. Misto sold 953,406 shares of the company's stock in a transaction dated 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 owned 29,523,653 shares in the company, valued at $1,935,570,690.68. This trade represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.60% of the stock is owned by corporate insiders.

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.

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