Illinois Municipal Retirement Fund purchased a new position in shares of Acushnet (NYSE:GOLF - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,214 shares of the company's stock, valued at approximately $907,000.
A number of other hedge funds have also recently added to or reduced their stakes in GOLF. Public Employees Retirement System of Ohio acquired a new position in Acushnet during the fourth quarter worth $31,000. GAMMA Investing LLC raised its position in Acushnet by 96.1% during the first quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after acquiring an additional 319 shares during the period. Lazard Asset Management LLC acquired a new position in Acushnet during the fourth quarter worth $51,000. Point72 Asia Singapore Pte. Ltd. raised its position in Acushnet by 39.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock worth $58,000 after acquiring an additional 232 shares during the period. Finally, Hyperion Capital Advisors LP acquired a new position in Acushnet during the fourth quarter worth $206,000. 53.12% of the stock is owned by hedge funds and other institutional investors.
Acushnet Trading Down 0.9%
Shares of GOLF traded down $0.68 during mid-day trading on Friday, reaching $76.00. The stock had a trading volume of 286,757 shares, compared to its average volume of 396,535. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.21 and a quick ratio of 1.21. Acushnet has a 52-week low of $55.31 and a 52-week high of $76.73. The business's fifty day moving average is $70.37 and its 200 day moving average is $68.01. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 21.11 and a beta of 0.84.
Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.30. Acushnet had a net margin of 9.21% and a return on equity of 26.81%. The firm had revenue of $703.37 million during the quarter, compared to analyst estimates of $697.82 million. During the same quarter in the prior year, the firm posted $1.35 earnings per share. Acushnet's quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts predict that Acushnet will post 3.06 EPS for the current fiscal year.
Acushnet Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Friday, June 6th. Acushnet's dividend payout ratio is currently 26.11%.
Analyst Ratings Changes
A number of equities analysts have weighed in on GOLF shares. Compass Point cut shares of Acushnet from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. KeyCorp reiterated an "overweight" rating and issued a $80.00 target price (up from $75.00) on shares of Acushnet in a research report on Friday, June 27th. Wall Street Zen cut shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Finally, Truist Financial increased their target price 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Acushnet has a consensus rating of "Hold" and a consensus target price of $71.00.
View Our Latest Stock Analysis on GOLF
About Acushnet
(
Free Report)
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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