Arizona State Retirement System Sells 288 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Arizona State Retirement System cut its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,302 shares of the company’s stock after selling 288 shares during the period. Arizona State Retirement System’s holdings in Acushnet were worth $588,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Acushnet by 3.6% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,046,506 shares of the company’s stock valued at $409,889,000 after buying an additional 279,465 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Acushnet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,126,762 shares of the company’s stock valued at $125,883,000 after buying an additional 24,312 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Acushnet by 6.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,795,412 shares of the company’s stock valued at $91,454,000 after buying an additional 101,696 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Acushnet by 0.3% in the 1st quarter. Macquarie Group Ltd. now owns 1,398,917 shares of the company’s stock valued at $71,261,000 after buying an additional 4,695 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Acushnet by 3.1% in the 2nd quarter. Wells Fargo & Company MN now owns 1,201,626 shares of the company’s stock valued at $65,705,000 after buying an additional 36,399 shares in the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Trading Up 1.0 %

GOLF opened at $62.05 on Friday. The company has a current ratio of 2.21, a quick ratio of 0.84 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $3.94 billion, a PE ratio of 21.47 and a beta of 0.87. Acushnet Holdings Corp. has a 1-year low of $43.62 and a 1-year high of $70.10. The firm has a 50-day moving average price of $64.86 and a two-hundred day moving average price of $60.80.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, February 29th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.03). The business had revenue of $413.00 million during the quarter, compared to the consensus estimate of $429.16 million. Acushnet had a net margin of 8.33% and a return on equity of 20.09%. The firm’s revenue was down 7.7% on a year-over-year basis. As a group, equities analysts anticipate that Acushnet Holdings Corp. will post 3.17 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Thursday, March 7th. This is a positive change from Acushnet’s previous quarterly dividend of $0.20. Acushnet’s dividend payout ratio (DPR) is 29.76%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. KeyCorp increased their target price on shares of Acushnet from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, January 12th. Truist Financial increased their target price on shares of Acushnet from $55.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.71.

Insider Activity

In related news, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the transaction, the insider now owns 130,472 shares of the company’s stock, valued at approximately $8,391,959.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the transaction, the insider now owns 130,472 shares of the company’s stock, valued at approximately $8,391,959.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brendan J. Reidy sold 9,000 shares of Acushnet stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total transaction of $580,410.00. Following the transaction, the insider now directly owns 58,588 shares in the company, valued at approximately $3,778,340.12. The disclosure for this sale can be found here. Insiders own 54.10% of the company’s stock.

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.