Praxis Investment Management Inc. Takes Position in Acushnet (NYSE:GOLF)

Praxis Investment Management Inc. acquired a new position in shares of Acushnet (NYSE:GOLF - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,230 shares of the company's stock, valued at approximately $290,000.

A number of other hedge funds have also modified their holdings of GOLF. Heritage Family Offices LLP grew its holdings in shares of Acushnet by 7.4% during the 1st quarter. Heritage Family Offices LLP now owns 3,090 shares of the company's stock valued at $212,000 after acquiring an additional 212 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Acushnet by 1.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company's stock valued at $1,144,000 after purchasing an additional 213 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Acushnet by 1.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company's stock valued at $953,000 after purchasing an additional 217 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in Acushnet by 39.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock valued at $58,000 after purchasing an additional 232 shares in the last quarter. Finally, Semanteon Capital Management LP lifted its holdings in shares of Acushnet by 3.0% during the 4th quarter. Semanteon Capital Management LP now owns 9,659 shares of the company's stock valued at $687,000 after buying an additional 281 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOLF. KeyCorp raised their price objective on shares of Acushnet from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Truist Financial lifted their price objective on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Compass Point downgraded shares of Acushnet from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. Finally, Wall Street Zen cut Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $70.00.

Acushnet Stock Performance

GOLF stock traded up $0.45 during mid-day trading on Tuesday, reaching $73.00. 464,132 shares of the stock traded hands, compared to its average volume of 391,557. The company has a quick ratio of 1.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average of $68.23 and a two-hundred day moving average of $67.99. The firm has a market capitalization of $4.29 billion, a PE ratio of 20.28 and a beta of 0.84. Acushnet has a 52 week low of $55.31 and a 52 week high of $76.65.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $703.37 million for the quarter, compared to the consensus estimate of $697.82 million. During the same period in the previous year, the business posted $1.35 EPS. The company's revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts predict that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.235 per share. The ex-dividend date was Friday, June 6th. This represents a $0.94 annualized dividend and a dividend yield of 1.29%. Acushnet's payout ratio is 26.11%.

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.