Acushnet $GOLF Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC grew its holdings in Acushnet (NYSE:GOLF) by 238.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 704,151 shares of the company’s stock after acquiring an additional 495,794 shares during the period. Fisher Asset Management LLC’s holdings in Acushnet were worth $55,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Acushnet in the second quarter valued at $20,963,000. Tributary Capital Management LLC increased its holdings in Acushnet by 92.6% during the 3rd quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock worth $35,908,000 after purchasing an additional 219,895 shares during the period. Bank of America Corp DE increased its holdings in Acushnet by 31.8% during the 2nd quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock worth $33,312,000 after purchasing an additional 110,245 shares during the period. American Century Companies Inc. raised its position 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 purchasing an additional 101,443 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Acushnet by 51.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 223,282 shares of the company’s stock valued at $16,259,000 after buying an additional 75,663 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GOLF. UBS Group set a $100.00 target price on shares of Acushnet in a report on Thursday, February 26th. Morgan Stanley raised their price objective on shares of Acushnet from $90.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. KeyCorp reaffirmed a “sector weight” rating on shares of Acushnet in a research report on Friday, January 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. upgraded 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 note on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $89.57.

Acushnet Trading Down 2.2%

Shares of Acushnet stock opened at $99.14 on Wednesday. The company has a current ratio of 2.42, a quick ratio of 1.30 and a debt-to-equity ratio of 1.03. The company has a fifty day simple moving average of $93.76 and a 200-day simple moving average of $84.52. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 31.98 and a beta of 0.88. Acushnet has a 12-month low of $55.31 and a 12-month high of $104.81.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.31). Acushnet had a net margin of 7.37% and a return on equity of 33.68%. The company had revenue of $477.22 million during the quarter, compared to analysts’ expectations of $453.59 million. During the same period last year, the firm earned ($0.02) earnings per share. Acushnet’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a $0.255 dividend. This is a boost from Acushnet’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.0%. Acushnet’s payout ratio is currently 30.32%.

About Acushnet

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.