AQR Capital Management LLC Acquires 1,214 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

AQR Capital Management LLC boosted its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,506 shares of the company’s stock after purchasing an additional 1,214 shares during the period. AQR Capital Management LLC’s holdings in Acushnet were worth $1,238,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in Acushnet during the 1st quarter worth approximately $27,000. Benjamin F. Edwards & Company Inc. increased its stake in Acushnet by 101.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock worth $76,000 after acquiring an additional 585 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Acushnet in the 2nd quarter worth approximately $83,000. Crestwood Advisors Group LLC purchased a new stake in Acushnet during the second quarter valued at about $200,000. Finally, Quest Partners LLC purchased a new position in shares of Acushnet during the 2nd quarter valued at about $209,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GOLF. Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and lowered their price target for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Compass Point decreased their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Truist Financial upped their price target on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $67.43.

Insider Buying and Selling at Acushnet

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.19, for a total transaction of $71,250,900.00. Following the sale, the director now directly owns 31,412,966 shares of the company’s stock, valued at $2,016,398,287.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 54.60% of the stock is currently owned by insiders.

Acushnet Stock Performance

Shares of GOLF opened at $63.80 on Friday. The firm has a market capitalization of $3.94 billion, a P/E ratio of 22.00 and a beta of 0.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27. The business has a fifty day moving average of $65.24 and a 200 day moving average of $64.78. Acushnet Holdings Corp. has a one year low of $49.42 and a one year high of $74.77.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The company had revenue of $683.90 million during the quarter, compared to analysts’ expectations of $709.83 million. During the same quarter in the previous year, the company earned $1.09 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.02 EPS for the current year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Friday, September 6th. Acushnet’s dividend payout ratio (DPR) is currently 29.66%.

About Acushnet

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.