Vanguard Group Inc. reduced its stake in shares of Acushnet (NYSE:GOLF - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,937,552 shares of the company's stock after selling 18,233 shares during the period. Vanguard Group Inc. owned 5.01% of Acushnet worth $234,475,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in GOLF. Public Sector Pension Investment Board increased its holdings in shares of Acushnet by 19.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 107,493 shares of the company's stock valued at $8,437,000 after acquiring an additional 17,319 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Acushnet by 238.0% in the 3rd quarter. Fisher Asset Management LLC now owns 704,151 shares of the company's stock worth $55,269,000 after purchasing an additional 495,794 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Acushnet in the 3rd quarter worth approximately $5,382,000. SG Americas Securities LLC boosted its position in Acushnet by 1,884.4% during the third quarter. SG Americas Securities LLC now owns 59,195 shares of the company's stock worth $4,646,000 after purchasing an additional 56,212 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Acushnet during the third quarter valued at approximately $1,518,000. Institutional investors and hedge funds own 53.12% of the company's stock.
Insider Activity
In other news, Director Gregory A. Hewett sold 4,206 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $100.00, for a total transaction of $420,600.00. Following the completion of the transaction, the director owned 37,017 shares of the company's stock, valued at approximately $3,701,700. This represents a 10.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 53.30% of the company's stock.
Acushnet Stock Up 2.4%
GOLF opened at $91.64 on Friday. The business has a 50 day moving average of $95.69 and a 200-day moving average of $90.09. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 32.27 and a beta of 0.88. The company has a current ratio of 2.87, a quick ratio of 0.97 and a debt-to-equity ratio of 1.36. Acushnet has a 1-year low of $67.14 and a 1-year high of $104.81.
Acushnet (NYSE:GOLF - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.02). The company had revenue of $752.98 million for the quarter, compared to the consensus estimate of $722.48 million. Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The company's revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $1.62 EPS. As a group, sell-side analysts anticipate that Acushnet will post 3.8 earnings per share for the current year.
Acushnet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be issued a dividend of $0.255 per share. The ex-dividend date is Friday, June 5th. This represents a $1.02 annualized dividend and a dividend yield of 1.1%. Acushnet's payout ratio is presently 35.92%.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on GOLF. Morgan Stanley lifted their price target on shares of Acushnet from $90.00 to $95.00 and gave the company an "equal weight" rating in a research report on Thursday, January 22nd. Jefferies Financial Group reiterated a "hold" rating on shares of Acushnet in a research note on Thursday, February 26th. Zacks Research downgraded shares of Acushnet from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 17th. UBS Group set a $100.00 target price on shares of Acushnet in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. raised Acushnet from an "underweight" rating to a "neutral" rating and raised their price target for the company from $74.00 to $96.00 in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Acushnet currently has a consensus rating of "Hold" and an average price target of $93.83.
View Our Latest Stock Analysis on GOLF
Key Acushnet News
Here are the key news stories impacting Acushnet this week:
Acushnet Company Profile
(
Free Report)
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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