Vanguard Group Inc. Has $232 Million Stake in Acushnet $GOLF

Vanguard Group Inc. reduced its holdings in shares of Acushnet (NYSE:GOLFFree Report) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. 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 0.05% of Acushnet worth $232,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in GOLF. EverSource Wealth Advisors LLC lifted its holdings in Acushnet by 149.7% during 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 last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Acushnet by 83.7% in the second quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock valued at $39,000 after purchasing an additional 246 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Acushnet by 78.6% in the second quarter. Bessemer Group Inc. now owns 575 shares of the company’s stock valued at $42,000 after purchasing an additional 253 shares during the period. Federated Hermes Inc. lifted its stake in shares of Acushnet by 197.5% during the 3rd quarter. Federated Hermes Inc. now owns 598 shares of the company’s stock worth $47,000 after buying an additional 397 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Acushnet during the 2nd quarter worth about $100,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Acushnet Trading Down 0.7%

Shares of Acushnet stock opened at $102.36 on Monday. 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 has a 12-month low of $55.31 and a 12-month high of $104.81. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 33.02 and a beta of 0.88. The firm’s 50-day moving average price is $93.04 and its two-hundred day moving average price is $84.22.

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

Acushnet Increases Dividend

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

Analyst Ratings Changes

GOLF has been the topic of several research analyst reports. Zacks Research cut shares of Acushnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a research report on Thursday. JPMorgan Chase & Co. raised Acushnet from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $74.00 to $96.00 in a report on Friday, January 23rd. Morgan Stanley upped their price objective on Acushnet from $90.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. Finally, Truist Financial increased their price objective on Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, February 9th. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Acushnet presently has a consensus rating of “Hold” and a consensus target price of $89.57.

View Our Latest Analysis on Acushnet

Acushnet News Summary

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Acushnet Company Profile

(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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