37,359 Shares in Acushnet $GOLF Bought by Burney Co.

Burney Co. acquired a new stake in Acushnet (NYSE:GOLF) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 37,359 shares of the company’s stock, valued at approximately $2,932,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Acushnet in the 2nd quarter valued at about $20,963,000. Bank of America Corp DE raised its position in Acushnet by 31.8% in the 2nd quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock valued at $33,312,000 after buying an additional 110,245 shares during the last quarter. American Century Companies Inc. lifted its stake in Acushnet by 489.1% in the 2nd quarter. American Century Companies Inc. now owns 122,185 shares of the company’s stock valued at $8,898,000 after acquiring an additional 101,443 shares in the last quarter. Callan Family Office LLC lifted its stake in Acushnet by 1,313.0% in the 2nd quarter. Callan Family Office LLC now owns 92,267 shares of the company’s stock valued at $6,719,000 after acquiring an additional 85,737 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in Acushnet by 51.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 223,282 shares of the company’s stock worth $16,259,000 after acquiring an additional 75,663 shares during the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the transaction, the insider directly owned 76,006 shares of the company’s stock, valued at approximately $6,434,667.96. The trade was a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Eugene Maher sold 26,939 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $79.33, for a total value of $2,137,070.87. Following the completion of the sale, the chief executive officer owned 852,092 shares in the company, valued at approximately $67,596,458.36. This trade represents a 3.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 71,460 shares of company stock valued at $5,786,311 over the last quarter. 53.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOLF. KeyCorp lifted their price objective on shares of Acushnet from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Roth Capital reiterated a “neutral” rating and issued a $80.00 price target on shares of Acushnet in a research note on Thursday, November 6th. JPMorgan Chase & Co. boosted their price target on shares of Acushnet from $67.00 to $74.00 and gave the stock an “underweight” rating in a research report on Monday, December 15th. Weiss Ratings restated a “buy (b)” rating on shares of Acushnet in a report on Wednesday, October 8th. Finally, Truist Financial lifted their target price on Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Acushnet has a consensus rating of “Hold” and a consensus target price of $78.17.

Acushnet Stock Performance

Shares of GOLF opened at $83.16 on Friday. The firm has a 50-day moving average of $81.47 and a 200-day moving average of $78.65. Acushnet has a one year low of $55.31 and a one year high of $86.19. The company has a market cap of $4.88 billion, a PE ratio of 22.72 and a beta of 0.89. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30.

Acushnet (NYSE:GOLF) last issued its earnings results on Wednesday, November 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The firm had revenue of $657.66 million during the quarter, compared to the consensus estimate of $632.76 million. During the same period in the previous year, the company posted $0.89 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, December 5th. Acushnet’s payout ratio is currently 25.68%.

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.