Dimensional Fund Advisors LP Increases Holdings in Acushnet $GOLF

Key Points

• Dimensional Fund Advisors LP increased its stake in Acushnet by 2.8% in Q1, purchasing an additional 42,533 shares, bringing its total holdings to approximately 1.55 million shares valued at $106.36 million.
• Acushnet's quarterly earnings report revealed an EPS of $1.25, missing analysts' expectations of $1.33, although revenue increased by 5.4% year-over-year to $720.48 million.
• The company declared a quarterly dividend of $0.235 per share, with a yield of 1.2%, to be paid on September 19th to shareholders of record as of September 5th.

Dimensional Fund Advisors LP grew its stake in Acushnet (NYSE:GOLF - Free Report) by 2.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,549,266 shares of the company's stock after purchasing an additional 42,533 shares during the quarter. Dimensional Fund Advisors LP owned about 2.58% of Acushnet worth $106,366,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Acushnet in the 4th quarter valued at approximately $31,000. KBC Group NV purchased a new position in Acushnet during the first quarter valued at $44,000. GAMMA Investing LLC boosted its holdings in shares of Acushnet by 96.1% during the 1st quarter. GAMMA Investing LLC now owns 651 shares of the company's stock valued at $45,000 after buying an additional 319 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Acushnet in the 4th quarter worth about $51,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Acushnet by 39.6% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock worth $58,000 after acquiring an additional 232 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOLF has been the topic of several recent research reports. KeyCorp upped their price target on Acushnet from $80.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Truist Financial increased their price objective on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Zacks Research cut shares of Acushnet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Morgan Stanley increased their price target 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. Finally, Compass Point cut Acushnet from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $80.00 to $71.00 in a research report on Monday, May 5th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Acushnet presently has an average rating of "Hold" and an average target price of $73.33.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Mary Louise Bohn sold 13,190 shares of the firm'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 transaction 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 trade represents a 6.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Holdings Corp. Misto sold 953,406 shares of Acushnet 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 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 disclosure for this sale can be found here. Corporate insiders own 53.60% of the company's stock.

Acushnet Stock Performance

GOLF stock traded up $1.01 during trading on Tuesday, reaching $80.26. The stock had a trading volume of 344,979 shares, compared to its average volume of 473,664. The firm has a market cap of $4.71 billion, a PE ratio of 21.46 and a beta of 0.84. 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 stock's 50 day moving average is $77.35 and its two-hundred day moving average is $70.25. Acushnet has a 52 week low of $55.31 and a 52 week high of $84.40.

Acushnet (NYSE:GOLF - Get Free Report) last released 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 business had revenue of $720.48 million for 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%. Acushnet'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 company earned $1.11 EPS. As a group, equities analysts anticipate that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The firm 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 of this dividend 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 presently 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.