Tributary Capital Management LLC Has $16.99 Million Stock Holdings in Acushnet $GOLF

Key Points

• Tributary Capital Management trimmed its stake in Acushnet by 6.9% in Q4 and now holds 212,851 shares worth about $16.99 million, roughly 0.36% of the company and its 25th-largest holding.
• Wall Street consensus is a Hold with an average price target of $89.57; Acushnet's latest quarter beat revenue ($477.2M) but significantly missed EPS (‑$0.58 vs. ‑$0.27 expected).
• Acushnet raised its quarterly dividend to $0.255 (annualized $1.02, ~1.0% yield), an insider sold 4,206 shares at $100, and the stock trades near $100 with a market cap of about $5.86 billion.

Tributary Capital Management LLC trimmed its position in shares of Acushnet (NYSE:GOLF - Free Report) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 212,851 shares of the company's stock after selling 15,894 shares during the quarter. Acushnet makes up 1.7% of Tributary Capital Management LLC's holdings, making the stock its 25th biggest holding. Tributary Capital Management LLC owned approximately 0.36% of Acushnet worth $16,990,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GOLF. Brown Brothers Harriman & Co. boosted its stake in shares of Acushnet by 389.6% during the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company's stock valued at $26,000 after purchasing an additional 261 shares in the last quarter. Kelleher Financial Advisors acquired a new stake in shares of Acushnet during the third quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its stake in shares of Acushnet by 149.7% during the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company's stock valued at $36,000 after purchasing an additional 295 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company's stock worth $40,000 after acquiring an additional 184 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Acushnet by 197.5% in the third quarter. Federated Hermes Inc. now owns 598 shares of the company's stock worth $47,000 after acquiring an additional 397 shares during the period. 53.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOLF has been the topic of a number of recent analyst reports. UBS Group set a $100.00 price objective on Acushnet in a research note on Thursday, February 26th. Morgan Stanley lifted their price objective on Acushnet from $90.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 22nd. KeyCorp reaffirmed a "sector weight" rating on shares of Acushnet in a research note on Friday, January 16th. Truist Financial lifted their price objective on Acushnet from $74.00 to $95.00 and gave the stock a "hold" rating in a research note on Monday, February 9th. Finally, Zacks Research lowered Acushnet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 17th. Nine investment analysts have rated the stock with a Hold rating, According to MarketBeat, Acushnet presently has an average rating of "Hold" and a consensus price target of $89.57.

Insider Activity at Acushnet

In other news, Director Gregory A. Hewett sold 4,206 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total transaction of $420,600.00. Following the completion of the sale, the director owned 37,017 shares in the company, valued at $3,701,700. The trade was a 10.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 53.60% of the stock is currently owned by corporate insiders.

Acushnet Trading Up 2.4%

Shares of GOLF stock opened at $100.07 on Friday. The company has a market cap of $5.86 billion, a P/E ratio of 32.28 and a beta of 0.92. The stock has a 50 day simple moving average of $96.85 and a two-hundred day simple moving average of $88.74. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.97 and a current ratio of 2.38. Acushnet has a fifty-two week low of $58.37 and a fifty-two week high of $104.81.

Acushnet (NYSE:GOLF - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported ($0.58) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.31). The business had revenue of $477.22 million during the quarter, compared to the consensus estimate of $453.59 million. Acushnet had a return on equity of 25.49% and a net margin of 7.37%.The company's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Research analysts forecast that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were issued a $0.255 dividend. The ex-dividend date was Friday, March 6th. This is an increase from Acushnet's previous quarterly dividend of $0.24. This represents a $1.02 dividend on an annualized basis and a yield of 1.0%. Acushnet's dividend payout ratio is presently 32.90%.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company's portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet's product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.

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