Dimensional Fund Advisors LP decreased its position in Acushnet Holdings Corp. (NYSE:GOLF – Free Report) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,499,694 shares of the company’s stock after selling 11,710 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.38% of Acushnet worth $95,206,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new position in Acushnet during the 1st quarter valued at about $27,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Acushnet by 101.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock valued at $76,000 after buying an additional 585 shares during the period. Crestwood Advisors Group LLC bought a new position in shares of Acushnet during the second quarter valued at approximately $200,000. Phillips Wealth Planners LLC purchased a new stake in Acushnet in the fourth quarter worth $204,000. Finally, Quest Partners LLC bought a new stake in Acushnet in the second quarter valued at $209,000. 53.12% of the stock is owned by institutional investors.
Acushnet Stock Performance
Shares of GOLF opened at $63.83 on Wednesday. Acushnet Holdings Corp. has a 52 week low of $49.42 and a 52 week high of $74.77. The company has a quick ratio of 1.27, a current ratio of 2.28 and a debt-to-equity ratio of 0.81. The stock has a market cap of $4.03 billion, a P/E ratio of 22.16 and a beta of 0.85. The business’s 50 day moving average price is $66.97 and its 200-day moving average price is $64.76.
Acushnet Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders 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 dividend yield of 1.35%. The ex-dividend date was Friday, September 6th. Acushnet’s payout ratio is 29.86%.
Wall Street Analysts Forecast Growth
Several brokerages have commented on GOLF. Compass Point decreased their price objective on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and decreased their price target for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price objective on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Finally, Truist Financial increased their target price on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.43.
Read Our Latest Stock Analysis on GOLF
Insider Activity at Acushnet
In related 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 value of $71,250,900.00. Following the transaction, the director now directly owns 31,412,966 shares of the company’s stock, valued at approximately $2,016,398,287.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 54.60% of the stock is owned by insiders.
Acushnet Profile
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.
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