Kennedy Capital Management LLC Acquires 22,424 Shares of Acushnet $GOLF

Key Points

• Kennedy Capital Management LLC increased its Acushnet stake by 11.5% in the fourth quarter, buying 22,424 additional shares and bringing its total holdings to 217,803 shares valued at about $17.4 million.
• Acushnet reported quarterly EPS of $1.36, missing analyst expectations by $0.02, but revenue came in above estimates at $752.98 million, up 7.1% year over year.
• The company announced a quarterly dividend of $0.255 per share and continues to draw mixed Wall Street views, with an average analyst rating of Hold and a consensus price target of $94.17.

Kennedy Capital Management LLC grew its holdings in shares of Acushnet (NYSE:GOLF - Free Report) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 217,803 shares of the company's stock after buying an additional 22,424 shares during the quarter. Kennedy Capital Management LLC owned 0.37% of Acushnet worth $17,385,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GOLF. Fisher Asset Management LLC grew its stake in shares of Acushnet by 238.0% during the third quarter. Fisher Asset Management LLC now owns 704,151 shares of the company's stock valued at $55,269,000 after buying an additional 495,794 shares during the last quarter. Morgan Stanley grew its stake in shares of Acushnet by 22.3% during the fourth quarter. Morgan Stanley now owns 1,379,236 shares of the company's stock valued at $110,091,000 after buying an additional 251,889 shares during the last quarter. M&T Bank Corp grew its stake in shares of Acushnet by 668.1% during the fourth quarter. M&T Bank Corp now owns 159,874 shares of the company's stock valued at $12,761,000 after buying an additional 139,060 shares during the last quarter. Neumeier Poma Investment Counsel LLC grew its stake in shares of Acushnet by 51.7% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 384,424 shares of the company's stock valued at $30,685,000 after buying an additional 130,990 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Acushnet by 8.5% during the fourth quarter. Capital Research Global Investors now owns 1,465,000 shares of the company's stock valued at $116,936,000 after buying an additional 115,000 shares during the last quarter. Institutional investors own 53.12% of the company's stock.

Acushnet Stock Performance

Shares of GOLF stock opened at $98.13 on Friday. The business's fifty day simple moving average is $92.75 and its 200-day simple moving average is $91.88. The company has a market cap of $5.75 billion, a PE ratio of 34.55 and a beta of 0.85. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36. Acushnet has a 12-month low of $69.54 and a 12-month high of $104.81.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.02). The business had revenue of $752.98 million for the quarter, compared to analyst estimates of $722.48 million. Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The business's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 earnings per share. Analysts expect that Acushnet will post 3.82 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, June 5th. Acushnet's dividend payout ratio is presently 35.92%.

Insider Buying and Selling at Acushnet

In related news, insider Steven Francis Pelisek sold 15,000 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the transaction, the insider directly owned 70,512 shares of the company's stock, valued at $6,434,925.12. This represents a 17.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas N. Mohamed sold 529 shares of the company's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the transaction, the insider directly owned 2,868 shares in the company, valued at approximately $272,460. The trade was a 15.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 53.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOLF. Weiss Ratings lowered Acushnet from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, May 27th. Roth Mkm set a $87.00 price target on Acushnet in a report on Thursday, May 7th. Zacks Research lowered Acushnet from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 17th. Jefferies Financial Group reiterated a "hold" rating on shares of Acushnet in a report on Thursday, February 26th. Finally, Truist Financial boosted their price target on Acushnet from $95.00 to $97.00 and gave the company a "hold" rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $94.17.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company's portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet's product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.

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