Tributary Capital Management LLC Cuts Holdings in Acushnet (NYSE:GOLF)

Tributary Capital Management LLC reduced its stake in shares of Acushnet (NYSE:GOLF - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,524 shares of the company's stock after selling 9,229 shares during the quarter. Tributary Capital Management LLC owned 0.43% of Acushnet worth $17,544,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new stake in Acushnet in the fourth quarter worth about $31,000. KBC Group NV acquired a new stake in Acushnet in the first quarter worth about $44,000. GAMMA Investing LLC increased its position 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 acquired a new stake in Acushnet in the fourth quarter worth about $51,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Acushnet by 39.6% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock valued at $58,000 after acquiring an additional 232 shares during the period. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GOLF shares. KeyCorp reiterated an "overweight" rating and set a $80.00 price objective (up previously from $75.00) on shares of Acushnet in a report on Friday, June 27th. Compass Point cut Acushnet from a "buy" rating to a "neutral" rating and cut their price objective for the company from $80.00 to $71.00 in a report on Monday, May 5th. Morgan Stanley boosted their target price on Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Truist Financial boosted their target price on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. 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 data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $72.50.

Insider Buying and Selling

In related news, Director Holdings Corp. Misto sold 953,406 shares of the firm's stock in a transaction that occurred on 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 53.60% of the stock is owned by corporate insiders.

Acushnet Price Performance

Shares of GOLF traded up $0.58 during trading hours on Friday, hitting $80.87. 302,767 shares of the company were exchanged, compared to its average volume of 399,770. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 22.46 and a beta of 0.84. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $81.58. 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 firm's fifty day moving average is $72.72 and its 200 day moving average is $68.51.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share 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 business had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. During the same period in the prior year, the company earned $1.35 EPS. Acushnet's revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts anticipate that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.235 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.94 annualized dividend and a dividend yield of 1.16%. Acushnet's payout ratio is 26.11%.

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.