LPL Financial LLC Has $2.19 Million Position in Acushnet $GOLF

Key Points

• LPL Financial LLC increased its stake in Acushnet by 25.8%, acquiring an additional 6,549 shares and holding a total of 31,960 shares valued at approximately $2,194,000.
• Acushnet announced a quarterly dividend of $0.235 per share, representing an annual yield of 1.2%, with the payout scheduled for September 19th.
• The company reported earnings of $1.25 per share for the last quarter, missing estimates but showing a 5.4% year-over-year increase in revenue.

LPL Financial LLC increased its position in shares of Acushnet (NYSE:GOLF - Free Report) by 25.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,960 shares of the company's stock after acquiring an additional 6,549 shares during the quarter. LPL Financial LLC owned approximately 0.05% of Acushnet worth $2,194,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Lord Abbett & CO. LLC acquired a new position in shares of Acushnet in the 4th quarter valued at $28,641,000. Edgestream Partners L.P. purchased a new stake in Acushnet during the 1st quarter worth $6,020,000. Principal Financial Group Inc. grew its holdings in Acushnet by 7.9% during the 1st quarter. Principal Financial Group Inc. now owns 1,104,699 shares of the company's stock worth $75,849,000 after acquiring an additional 80,676 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Acushnet by 26.5% in the 1st quarter. Bank of New York Mellon Corp now owns 343,978 shares of the company's stock valued at $23,617,000 after buying an additional 71,983 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Acushnet by 59.1% in the 4th quarter. Nuveen Asset Management LLC now owns 138,358 shares of the company's stock valued at $9,834,000 after buying an additional 51,404 shares during the period. Institutional investors and hedge funds own 53.12% of the company's stock.

Wall Street Analysts Forecast Growth

GOLF has been the topic of a number of recent analyst reports. Compass Point downgraded shares of Acushnet from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. Morgan Stanley boosted their target price on shares of Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. KeyCorp boosted their price target on shares of Acushnet from $80.00 to $85.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, Truist Financial boosted their target price on shares of Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $73.33.

Insider Buying and Selling

In related news, insider Mary Louise Bohn sold 13,190 shares of the business's stock in a transaction 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 transaction, the insider directly owned 191,786 shares in the company, valued at approximately $15,122,326.10. The trade was a 6.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Holdings Corp. Misto sold 953,406 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the transaction, the director owned 29,523,653 shares in the company, valued at approximately $1,935,570,690.68. The trade was a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 53.60% of the company's stock.

Acushnet Stock Performance

Shares of Acushnet stock traded up $2.4520 on Friday, reaching $79.5520. The stock had a trading volume of 387,306 shares, compared to its average volume of 475,892. The business's 50-day moving average price is $77.02 and its two-hundred day moving average price is $69.98. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.21 and a current ratio of 2.25. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $84.40. The stock has a market cap of $4.67 billion, a P/E ratio of 21.27 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.08). Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The firm had revenue of $720.48 million during the quarter, compared to the consensus estimate of $713.70 million. During the same period in the previous year, the company posted $1.11 EPS. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Acushnet will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, September 5th. This represents a $0.94 dividend on an annualized basis and a yield of 1.2%. Acushnet's dividend payout ratio is presently 25.13%.

Acushnet Company Profile

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.