New York State Teachers Retirement System Takes Position in Acushnet (NYSE:GOLF)

New York State Teachers Retirement System acquired a new position in shares of Acushnet (NYSE:GOLF - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,031 shares of the company's stock, valued at approximately $414,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOLF. Public Employees Retirement System of Ohio purchased a new stake in Acushnet during the 4th quarter valued at about $31,000. KBC Group NV bought a new position in shares of Acushnet in the first quarter worth approximately $44,000. GAMMA Investing LLC lifted its stake in shares of Acushnet by 96.1% in the first quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after buying an additional 319 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Acushnet during the fourth quarter valued at approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of Acushnet by 39.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock valued at $58,000 after acquiring an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Acushnet Stock Performance

GOLF traded down $0.29 during mid-day trading on Friday, reaching $77.96. 280,972 shares of the company traded hands, compared to its average volume of 398,858. The company's fifty day moving average price is $71.52 and its 200-day moving average price is $68.25. The stock has a market capitalization of $4.58 billion, a P/E ratio of 21.66 and a beta of 0.84. The company has a quick ratio of 1.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.19. Acushnet has a 52-week low of $55.31 and a 52-week high of $79.23.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.32 by $0.30. The company had revenue of $703.37 million during the quarter, compared to analyst estimates of $697.82 million. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. Acushnet's revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 earnings per share. On average, sell-side analysts expect that Acushnet will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.21%. Acushnet's dividend payout ratio is currently 26.11%.

Analysts Set New Price Targets

GOLF has been the subject of a number of recent analyst reports. Compass Point lowered shares of Acushnet from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $80.00 to $71.00 in a report on Monday, May 5th. KeyCorp restated an "overweight" rating and issued a $80.00 price target (up previously from $75.00) on shares of Acushnet in a research note on Friday, June 27th. Finally, Truist Financial increased their price objective on 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $71.00.

Insider Activity 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 shares were sold at an average price of $65.56, for a total value of $62,505,297.36. Following the transaction, the director owned 29,523,653 shares in the company, valued at $1,935,570,690.68. This represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 53.60% of the stock is owned by insiders.

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.