London Co. of Virginia Has $33.76 Million Stock Holdings in Acushnet $GOLF

London Co. of Virginia lessened its holdings in Acushnet (NYSE:GOLF) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 422,887 shares of the company’s stock after selling 17,200 shares during the period. London Co. of Virginia’s holdings in Acushnet were worth $33,755,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital Research Global Investors raised its position in Acushnet by 8.5% in the fourth quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock worth $116,936,000 after purchasing an additional 115,000 shares in the last quarter. Morgan Stanley raised its position in Acushnet by 22.3% in the fourth quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock worth $110,091,000 after purchasing an additional 251,889 shares in the last quarter. Raymond James Financial Inc. raised its position in Acushnet by 0.4% in the second quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock worth $69,358,000 after purchasing an additional 4,243 shares in the last quarter. Fisher Asset Management LLC raised its position in Acushnet by 238.0% in the third quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock worth $55,269,000 after purchasing an additional 495,794 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Acushnet by 31.8% in the second 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 in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Price Performance

Shares of Acushnet stock opened at $97.71 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 34.40 and a beta of 0.85. Acushnet has a 1-year low of $70.28 and a 1-year high of $104.81. The firm’s 50-day moving average price is $92.89 and its two-hundred day moving average price is $92.12.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.02). The company had revenue of $752.98 million for the quarter, compared to the consensus estimate of $722.48 million. Acushnet had a net margin of 6.54% and a return on equity of 22.95%. Acushnet’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $1.62 earnings per share. On average, equities analysts predict that Acushnet will post 3.82 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors 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 1.0%. Acushnet’s dividend payout ratio (DPR) is currently 35.92%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GOLF shares. Zacks Research lowered shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Weiss Ratings lowered shares of Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. Truist Financial increased their price target on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. Roth Mkm set a $87.00 price objective on shares of Acushnet in a research note on Thursday, May 7th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $94.17.

Insider Buying and Selling

In related news, insider Nicholas N. Mohamed sold 529 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the sale, the insider 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 SEC, which is available at the SEC website. Also, insider Steven Francis Pelisek sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the completion of the sale, the insider directly owned 70,512 shares of the company’s stock, valued at approximately $6,434,925.12. This represents a 17.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 53.30% of the company’s stock.

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.