Vanguard Group Inc. Has $212.21 Million Stock Holdings in Acushnet $GOLF

Key Points

• Vanguard Group Inc. increased its stake in Acushnet by 9.6%, owning approximately 5.15% of the company, valued at $212.2 million at the end of the first quarter.
• Acushnet has announced a quarterly dividend of $0.235 per share, representing an annualized dividend of $0.94 with a yield of 1.2%.
• Several analysts have altered their price targets for Acushnet, with most recent adjustments ranging from $65.00 to $85.00, reflecting a mix of ratings from Buy to Hold.

Vanguard Group Inc. lifted its position in shares of Acushnet (NYSE:GOLF - Free Report) by 9.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,090,666 shares of the company's stock after purchasing an additional 269,742 shares during the quarter. Vanguard Group Inc. owned 5.15% of Acushnet worth $212,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in shares of Acushnet during the fourth quarter worth $31,000. KBC Group NV bought a new position in shares of Acushnet during the first quarter worth $44,000. GAMMA Investing LLC boosted its position in shares of Acushnet by 96.1% during the first quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after purchasing an additional 319 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Acushnet during the fourth quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Acushnet by 39.6% during 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 in the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Stock Down 0.4%

GOLF traded down $0.3410 during trading on Monday, hitting $79.1590. The company had a trading volume of 245,957 shares, compared to its average volume of 407,013. The company has a market capitalization of $4.64 billion, a PE ratio of 21.17 and a beta of 0.84. Acushnet has a one year low of $55.31 and a one year high of $84.40. The firm's 50-day moving average price is $77.35 and its 200 day moving average price is $70.25. The company has a quick ratio of 1.21, a current ratio of 2.25 and a debt-to-equity ratio of 1.13.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.08). Acushnet had a net margin of 9.24% and a return on equity of 28.05%. The company had revenue of $720.48 million during the quarter, compared to the consensus estimate of $713.70 million. During the same period in the prior year, the firm posted $1.11 earnings per share. The company's revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts expect that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 5th. Acushnet's payout ratio is presently 25.13%.

Insider Buying and Selling at Acushnet

In other Acushnet news, Director Holdings Corp. Misto sold 953,406 shares of Acushnet stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $65.56, for a total value of $62,505,297.36. Following the sale, the director directly owned 29,523,653 shares in the company, valued at approximately $1,935,570,690.68. The trade was a 3.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mary Louise Bohn sold 13,190 shares of Acushnet stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $78.85, for a total transaction of $1,040,031.50. Following the completion of the sale, the insider owned 191,786 shares in the company, valued at $15,122,326.10. The trade was a 6.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 53.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Zacks Research cut shares of Acushnet from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Truist Financial boosted their price objective on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. KeyCorp boosted their price objective on shares of Acushnet from $80.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Compass Point cut shares of 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 research report on Monday, May 5th. Finally, Morgan Stanley boosted their price objective on shares of Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Acushnet currently has a consensus rating of "Hold" and a consensus target price of $73.33.

About Acushnet

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.