Vanguard Group Inc. Sells 11,473 Shares of Acushnet $GOLF

Vanguard Group Inc. lessened its stake in Acushnet (NYSE:GOLFFree Report) by 0.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,955,785 shares of the company’s stock after selling 11,473 shares during the quarter. Vanguard Group Inc. owned about 5.04% of Acushnet worth $232,000,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in shares of Acushnet by 2.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock valued at $553,000 after acquiring an additional 140 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Acushnet by 7.1% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,472 shares of the company’s stock worth $253,000 after purchasing an additional 230 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Acushnet by 4.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 5,618 shares of the company’s stock valued at $409,000 after buying an additional 232 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Acushnet by 3.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,789 shares of the company’s stock worth $494,000 after buying an additional 241 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Acushnet by 83.7% during the second quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock worth $39,000 after acquiring an additional 246 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. UBS Group set a $100.00 price target on Acushnet in a research report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Acushnet in a report on Wednesday, January 21st. JPMorgan Chase & Co. raised shares of Acushnet from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $74.00 to $96.00 in a research note on Friday, January 23rd. Truist Financial increased their target price on Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, February 9th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Acushnet in a report on Thursday. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $89.57.

Get Our Latest Stock Analysis on Acushnet

Acushnet Stock Down 0.7%

GOLF stock opened at $102.36 on Monday. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 33.02 and a beta of 0.88. Acushnet has a twelve month low of $55.31 and a twelve month high of $104.81. The business has a 50 day moving average price of $93.04 and a two-hundred day moving average price of $84.22. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03.

Acushnet (NYSE:GOLFGet Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $453.59 million. During the same period in the previous year, the company posted ($0.02) EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Analysts anticipate 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. Stockholders of record on Friday, March 6th will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Acushnet’s previous quarterly dividend of $0.24. Acushnet’s payout ratio is currently 30.32%.

About Acushnet

(Free Report)

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.

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Institutional Ownership by Quarter for Acushnet (NYSE:GOLF)

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