Capital Research Global Investors Grows Position in Acushnet $GOLF

Capital Research Global Investors increased its position in Acushnet (NYSE:GOLF) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,465,000 shares of the company’s stock after purchasing an additional 115,000 shares during the quarter. Capital Research Global Investors owned approximately 2.50% of Acushnet worth $116,936,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. lifted its stake in shares of Acushnet by 389.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after purchasing an additional 261 shares during the period. Kelleher Financial Advisors purchased a new position in shares of Acushnet in the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its stake in shares of Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after purchasing an additional 295 shares during the period. Allworth Financial LP lifted its stake in shares of Acushnet by 57.3% in the 3rd quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after purchasing an additional 184 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Acushnet by 197.5% in the 3rd quarter. Federated Hermes Inc. now owns 598 shares of the company’s stock valued at $47,000 after purchasing an additional 397 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on GOLF. UBS Group set a $100.00 target price on Acushnet in a research note on Thursday, February 26th. Roth Mkm set a $87.00 target price on Acushnet in a research note on Thursday, May 7th. Truist Financial raised their target price on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research note on Tuesday, May 19th. Zacks Research cut Acushnet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Acushnet in a research note on Thursday, February 26th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $94.17.

Insider Activity at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 15,000 shares of Acushnet stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the completion of the sale, the insider owned 70,512 shares of the company’s stock, valued at approximately $6,434,925.12. This trade represents a 17.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 53.30% of the company’s stock.

Acushnet Stock Up 0.8%

Acushnet stock opened at $90.69 on Tuesday. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 31.93 and a beta of 0.85. The stock has a fifty day simple moving average of $92.43 and a two-hundred day simple moving average of $91.47. Acushnet has a 12 month low of $69.54 and a 12 month high of $104.81. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36.

Acushnet (NYSE:GOLF) last posted its earnings results on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The business had revenue of $752.98 million during 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 firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.62 EPS. Equities analysts predict that Acushnet will post 3.82 EPS for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. Acushnet’s dividend payout ratio (DPR) is presently 35.92%.

Acushnet 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.