Teachers Retirement System of The State of Kentucky Takes $629,000 Position in Acushnet (NYSE:GOLF)

Key Points

• The Teachers Retirement System of The State of Kentucky purchased 9,160 shares of Acushnet, valued at approximately $629,000, during the first quarter.
• Acushnet reported quarterly earnings of $1.62 per share, surpassing analyst expectations of $1.32, with revenue of $703.37 million for the quarter.
• Analysts have varied opinions on Acushnet, with target prices ranging from $65.00 to $80.00, reflecting a consensus "Hold" rating.

Teachers Retirement System of The State of Kentucky acquired a new stake in Acushnet (NYSE:GOLF - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,160 shares of the company's stock, valued at approximately $629,000.

Other hedge funds have also added to or reduced their stakes in the company. Praxis Investment Management Inc. bought a new stake in shares of Acushnet during the first quarter worth $290,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Acushnet by 6.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company's stock worth $240,000 after buying an additional 203 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Acushnet by 783.2% during the first quarter. SG Americas Securities LLC now owns 17,391 shares of the company's stock worth $1,194,000 after buying an additional 15,422 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Acushnet by 89.6% during the first quarter. Rhumbline Advisers now owns 78,007 shares of the company's stock worth $5,356,000 after buying an additional 36,865 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Acushnet by 4.3% during the fourth quarter. Sei Investments Co. now owns 102,137 shares of the company's stock worth $7,260,000 after buying an additional 4,256 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Trading Down 0.3%

Shares of Acushnet stock traded down $0.25 during trading on Tuesday, hitting $81.44. The company's stock had a trading volume of 51,139 shares, compared to its average volume of 481,401. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.21 and a quick ratio of 1.21. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 22.62 and a beta of 0.84. The stock has a 50-day moving average price of $74.07 and a two-hundred day moving average price of $68.94. Acushnet has a 52 week low of $55.31 and a 52 week high of $84.40.

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, beating analysts' consensus estimates of $1.32 by $0.30. The business had revenue of $703.37 million for the quarter, compared to analysts' expectations of $697.82 million. Acushnet had a net margin of 9.21% and a return on equity of 26.81%. The business's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 earnings per share. Equities research analysts anticipate that Acushnet will post 3.06 EPS for the current fiscal 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 given a dividend of $0.235 per share. The ex-dividend date was Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a yield of 1.15%. Acushnet's dividend payout ratio (DPR) is currently 26.11%.

Analyst Ratings Changes

A number of equities analysts have recently commented on GOLF shares. KeyCorp reiterated an "overweight" rating and set a $80.00 price target (up previously from $75.00) on shares of Acushnet in a report on Friday, June 27th. Truist Financial boosted their price objective on shares of Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley boosted their price objective on shares of Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Finally, Compass Point cut shares of Acushnet from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $72.50.

Insider Buying and Selling

In other Acushnet news, Director Holdings Corp. Misto sold 953,406 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the sale, the director 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 53.60% of the company's stock.

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.