Teachers Retirement System of The State of Kentucky bought a new position in Acushnet (NYSE:GOLF - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,160 shares of the company's stock, valued at approximately $629,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in Acushnet in the fourth quarter worth $31,000. KBC Group NV purchased a new stake in Acushnet in the first quarter worth $44,000. GAMMA Investing LLC increased its stake in Acushnet by 96.1% in the first quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after purchasing an additional 319 shares during the period. Lazard Asset Management LLC purchased a new stake in Acushnet in the fourth quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. increased 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 worth $58,000 after purchasing an additional 232 shares during the period. Hedge funds and other institutional investors own 53.12% of the company's stock.
Insiders Place Their Bets
In related news, Director Holdings Corp. Misto sold 953,406 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was 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 $1,935,570,690.68. This trade represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 53.60% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of analysts have weighed in on GOLF shares. Truist Financial increased their target price on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Compass Point lowered Acushnet from a "buy" rating to a "neutral" rating and cut their price target for the company from $80.00 to $71.00 in a research note on Monday, May 5th. Morgan Stanley raised their price target on Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Finally, KeyCorp restated an "overweight" rating and set a $80.00 price target (up previously from $75.00) on shares of Acushnet in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Acushnet presently has a consensus rating of "Hold" and a consensus price target of $72.50.
Check Out Our Latest Stock Report on GOLF
Acushnet Stock Performance
Shares of Acushnet stock opened at $82.20 on Friday. Acushnet has a 12 month low of $55.31 and a 12 month high of $84.40. The stock's fifty day moving average price is $73.87 and its 200-day moving average price is $68.92. The firm has a market cap of $4.83 billion, a P/E ratio of 22.83 and a beta of 0.84. The company has a current ratio of 2.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.19.
Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter last year, the company earned $1.35 earnings per share. The firm's revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts expect that Acushnet will post 3.06 earnings per share for the current fiscal year.
Acushnet Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, June 6th. Acushnet's payout ratio is currently 26.11%.
Acushnet Profile
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Free Report)
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.
See Also
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