3,979 Shares in Acushnet (NYSE:GOLF) Acquired by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp has acquired 3,979 shares of Acushnet, worth approximately $273,000, highlighting ongoing institutional investment interest in the company.
• Acushnet recently announced a quarterly dividend of $0.235 per share, with an annualized yield of 1.3%.
• The company's latest earnings report revealed a 5.4% increase in revenue year-over-year, yet it missed earnings per share estimates, reporting $1.25 against a consensus of $1.33.

Mackenzie Financial Corp acquired a new stake in Acushnet (NYSE:GOLF - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,979 shares of the company's stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. LPL Financial LLC raised its position in Acushnet by 23.3% during the fourth quarter. LPL Financial LLC now owns 25,411 shares of the company's stock valued at $1,806,000 after buying an additional 4,810 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Acushnet by 31.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,229 shares of the company's stock valued at $301,000 after buying an additional 1,023 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Acushnet by 45.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,281 shares of the company's stock worth $375,000 after purchasing an additional 1,643 shares during the period. Alliancebernstein L.P. lifted its holdings in Acushnet by 1.8% during the fourth quarter. Alliancebernstein L.P. now owns 37,309 shares of the company's stock worth $2,652,000 after acquiring an additional 647 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Acushnet by 13.8% in the fourth quarter. Franklin Resources Inc. now owns 25,987 shares of the company's stock valued at $1,847,000 after purchasing an additional 3,156 shares in the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Acushnet

In other news, Director Holdings Corp. Misto sold 953,406 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $65.56, for a total value of $62,505,297.36. Following the completion of the sale, the director directly owned 29,523,653 shares of the company's stock, valued at approximately $1,935,570,690.68. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 53.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Acushnet Stock Performance

Acushnet stock traded up $2.88 during trading hours on Wednesday, reaching $79.16. 99,116 shares of the stock were exchanged, compared to its average volume of 480,427. The firm's 50 day moving average is $76.11 and its 200 day moving average is $69.42. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.21 and a current ratio of 2.25. The stock has a market cap of $4.64 billion, a P/E ratio of 21.16 and a beta of 0.84. 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.08). The firm had revenue of $720.48 million for the quarter, compared to analyst estimates of $713.70 million. Acushnet had a return on equity of 28.05% and a net margin of 9.24%. Acushnet's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.11 earnings per share. Analysts predict that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a $0.235 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.2%. Acushnet's dividend payout ratio is currently 25.13%.

Acushnet 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.