Praxis Investment Management Inc. Makes New $290,000 Investment in Acushnet (NYSE:GOLF)

Praxis Investment Management Inc. bought a new position in Acushnet (NYSE:GOLF - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,230 shares of the company's stock, valued at approximately $290,000.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Acushnet by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company's stock worth $107,097,000 after buying an additional 5,661 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Acushnet by 5.3% during the 4th quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company's stock valued at $76,654,000 after acquiring an additional 54,314 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Acushnet in the fourth quarter worth approximately $62,713,000. Lord Abbett & CO. LLC purchased a new position in shares of Acushnet during the fourth quarter valued at approximately $28,641,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Acushnet by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,744 shares of the company's stock valued at $25,713,000 after purchasing an additional 2,793 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Acushnet Stock Performance

GOLF traded up $1.78 during trading on Thursday, hitting $73.40. The company's stock had a trading volume of 342,106 shares, compared to its average volume of 391,815. The business's 50 day simple moving average is $68.75 and its 200-day simple moving average is $68.00. The firm has a market cap of $4.31 billion, a PE ratio of 20.39 and a beta of 0.84. Acushnet has a one year low of $55.31 and a one year high of $76.65. 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 (NYSE:GOLF - Get Free Report) last posted 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. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. The firm had revenue of $703.37 million for the quarter, compared to the consensus estimate of $697.82 million. During the same quarter last year, the company earned $1.35 earnings per share. The business's revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Friday, June 6th. Acushnet's dividend payout ratio is currently 26.11%.

Analysts Set New Price Targets

A number of research firms have commented on GOLF. Compass Point downgraded shares of 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 report on Monday, May 5th. Truist Financial raised their price target on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Wall Street Zen lowered Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, KeyCorp increased their target price on Acushnet from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. One investment 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. Based on data from MarketBeat, Acushnet has an average rating of "Hold" and an average price target of $70.00.

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.