Louisiana State Employees Retirement System Invests $1.14 Million in Acushnet $GOLF

Key Points

• Louisiana State Employees Retirement System opened a new position in Acushnet, buying 12,200 shares valued at about $1.14 million in the first quarter.
• Acushnet reported Q1 revenue of $752.98 million, up 7.1% year over year, but earnings per share of $1.36 came in slightly below analyst expectations.
• The company also paid a quarterly dividend of $0.255 per share, equal to an annualized yield of about 0.9%, while analysts currently rate the stock a Hold on average.

Louisiana State Employees Retirement System acquired a new position in shares of Acushnet (NYSE:GOLF - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,200 shares of the company's stock, valued at approximately $1,140,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. lifted its stake in Acushnet by 96.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,162 shares of the company's stock worth $93,000 after purchasing an additional 571 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of Acushnet by 64.5% in the fourth quarter. Corient Private Wealth LLC now owns 9,577 shares of the company's stock valued at $764,000 after buying an additional 3,754 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Acushnet in the 4th quarter valued at $637,000. XTX Topco Ltd purchased a new stake in shares of Acushnet in the 4th quarter valued at $447,000. Finally, Susquehanna Portfolio Strategies LLC acquired a new position in Acushnet during the 4th quarter worth about $3,816,000. Institutional investors and hedge funds own 53.12% of the company's stock.

Acushnet Stock Up 0.0%

Acushnet stock opened at $117.61 on Friday. Acushnet has a twelve month low of $73.09 and a twelve month high of $119.36. The stock's fifty day simple moving average is $96.71 and its 200-day simple moving average is $94.64. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $6.89 billion, a P/E ratio of 41.41 and a beta of 0.80.

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

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were issued a dividend of $0.255 per share. The ex-dividend date was Friday, June 5th. This represents a $1.02 annualized dividend and a yield of 0.9%. Acushnet's dividend payout ratio is 35.92%.

Insider Transactions at Acushnet

In other news, insider Steven Francis Pelisek sold 15,000 shares of Acushnet stock in a transaction dated 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 completion of the transaction, the insider owned 70,512 shares in the company, valued at approximately $6,434,925.12. This trade represents a 17.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas N. Mohamed sold 529 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the transaction, the insider directly owned 2,868 shares of the company's stock, valued at approximately $272,460. This represents 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 company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GOLF shares. Truist Financial raised their target price on Acushnet from $95.00 to $97.00 and gave the company a "hold" rating in a report on Tuesday, May 19th. Roth Mkm set a $87.00 price target on shares of Acushnet in a research note on Thursday, May 7th. Weiss Ratings cut shares of Acushnet from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Acushnet from $96.00 to $118.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Acushnet presently has a consensus rating of "Hold" and a consensus target price of $97.83.

Acushnet Profile

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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