Acushnet Holdings Corp. (NYSE:GOLF) Shares Acquired by Raymond James & Associates

Raymond James & Associates lifted its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 466,099 shares of the company’s stock after purchasing an additional 4,300 shares during the period. Raymond James & Associates owned approximately 0.74% of Acushnet worth $29,714,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GOLF. Victory Capital Management Inc. boosted its position in shares of Acushnet by 871.1% in the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after buying an additional 889,515 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Acushnet in the first quarter valued at about $8,754,000. Thornburg Investment Management Inc. purchased a new position in shares of Acushnet during the 2nd quarter worth approximately $7,794,000. Point72 Asset Management L.P. raised its position in shares of Acushnet by 2,217.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 74,166 shares of the company’s stock worth $4,708,000 after purchasing an additional 70,966 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Acushnet during the 1st quarter worth approximately $2,026,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Insider Activity at Acushnet

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 31,412,966 shares in the company, valued at $2,016,398,287.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 54.60% of the stock is owned by insiders.

Acushnet Stock Down 2.4 %

Shares of GOLF opened at $60.16 on Thursday. Acushnet Holdings Corp. has a fifty-two week low of $49.42 and a fifty-two week high of $74.77. The company’s fifty day moving average is $64.55 and its two-hundred day moving average is $64.61. The firm has a market cap of $3.79 billion, a PE ratio of 20.89 and a beta of 0.84. The company has a quick ratio of 1.27, a current ratio of 2.28 and a debt-to-equity ratio of 0.81.

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

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, September 6th. Acushnet’s dividend payout ratio is presently 29.86%.

Analysts Set New Price Targets

GOLF has been the subject of several recent research reports. Compass Point dropped their price target on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Truist Financial lifted their price objective on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and cut their price objective for the company from $86.00 to $75.00 in a research report on Tuesday, September 17th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Acushnet presently has a consensus rating of “Hold” and a consensus price target of $67.43.

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.