Van Hulzen Asset Management LLC Takes $1.34 Million Position in Acushnet $GOLF

Key Points

• Van Hulzen Asset Management bought 11,342 Acushnet shares valued at approximately $1.34 million, while institutional investors overall own 53.12% of GOLF.
• Acushnet reported quarterly EPS of $2.08, beating estimates of $1.63, with revenue of $819.95 million up 13.8% year over year. The company declared a quarterly dividend of $0.255, representing a 1.1% annualized yield.
• Analysts maintain a largely cautious view, with one Buy rating and seven Holds, producing a consensus rating of Hold and an average price target of $99.17. Two insiders also recently sold shares, including a 15,000-share sale worth about $1.37 million.

Van Hulzen Asset Management LLC purchased a new position in Acushnet (NYSE:GOLF - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,342 shares of the company's stock, valued at approximately $1,344,000.

Several other institutional investors also recently added to or reduced their stakes in GOLF. Versant Capital Management Inc boosted its position in Acushnet by 13.2% in the 2nd quarter. Versant Capital Management Inc now owns 788 shares of the company's stock valued at $93,000 after buying an additional 92 shares during the period. Oregon Public Employees Retirement Fund grew its stake in Acushnet by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,300 shares of the company's stock worth $503,000 after acquiring an additional 100 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Acushnet by 1.1% during the second quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company's stock worth $1,090,000 after acquiring an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Acushnet by 3.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company's stock worth $336,000 after acquiring an additional 133 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Acushnet by 2.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,779 shares of the company's stock valued at $461,000 after acquiring an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Insider Buying and Selling at Acushnet

In other news, insider Nicholas N. Mohamed sold 529 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the transaction, the insider directly owned 2,868 shares of the company's stock, valued at approximately $272,460. The trade was a 15.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven Francis Pelisek sold 15,000 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the sale, the insider owned 70,512 shares of the company's stock, valued at $6,434,925.12. This trade represents a 17.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 53.30% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on GOLF shares. Roth Capital reiterated a "neutral" rating and issued a $95.00 price target on shares of Acushnet in a report on Friday, August 7th. JPMorgan Chase & Co. raised their price objective on Acushnet from $96.00 to $118.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Truist Financial lifted their target price on Acushnet from $95.00 to $97.00 and gave the company a "hold" rating in a research report on Tuesday, May 19th. Wall Street Zen upgraded Acushnet from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Finally, Weiss Ratings raised Acushnet from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Acushnet has a consensus rating of "Hold" and an average price target of $99.17.

Acushnet Price Performance

Shares of GOLF opened at $89.60 on Tuesday. The company has a 50 day moving average price of $104.53 and a 200-day moving average price of $98.21. Acushnet has a fifty-two week low of $73.09 and a fifty-two week high of $119.65. The stock has a market capitalization of $5.23 billion, a PE ratio of 24.41 and a beta of 0.81. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.48 and a current ratio of 2.55.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.45. The firm had revenue of $819.95 million for the quarter, compared to the consensus estimate of $788.24 million. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. Equities analysts predict that Acushnet will post 4.02 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a $0.255 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. Acushnet's dividend payout ratio (DPR) is currently 27.79%.

Acushnet Company Profile

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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