42,157 Shares in Acushnet $GOLF Acquired by EFG International AG

EFG International AG bought a new stake in shares of Acushnet (NYSE:GOLF) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 42,157 shares of the company’s stock, valued at approximately $4,994,000. EFG International AG owned 0.07% of Acushnet as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Versant Capital Management Inc boosted its position in shares of Acushnet by 13.2% in the second quarter. Versant Capital Management Inc now owns 788 shares of the company’s stock worth $93,000 after buying an additional 92 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Acushnet by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,300 shares of the company’s stock worth $503,000 after acquiring an additional 100 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Acushnet by 1.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 9,200 shares of the company’s stock worth $1,090,000 after acquiring an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Acushnet by 3.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company’s stock worth $336,000 after acquiring an additional 133 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in Acushnet by 2.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,779 shares of the company’s stock worth $461,000 after acquiring an additional 135 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GOLF. Roth Capital reiterated a “neutral” rating and issued a $95.00 target price on shares of Acushnet in a report on Friday, August 7th. Truist Financial raised their price target on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. JPMorgan Chase & Co. boosted their price objective on shares of Acushnet from $96.00 to $118.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Wall Street Zen upgraded shares of Acushnet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $99.17.

Insider Activity at Acushnet

In related news, insider Nicholas N. Mohamed sold 529 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the transaction, the insider directly owned 2,868 shares of the company’s stock, valued at $272,460. This trade represents a 15.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 53.30% of the company’s stock.

Acushnet Stock Down 3.7%

Shares of Acushnet stock opened at $86.33 on Wednesday. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 23.52 and a beta of 0.81. The stock has a 50-day simple moving average of $104.30 and a 200-day simple moving average of $98.10. Acushnet has a 52-week low of $73.09 and a 52-week high of $119.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, August 6th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.45. The firm had revenue of $819.95 million for the quarter, compared to the consensus estimate of $788.24 million. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The firm’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 earnings per share. On average, equities research analysts expect that Acushnet will post 4.02 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 4th. Acushnet’s dividend payout ratio is presently 27.79%.

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.