32,448 Shares in Acushnet $GOLF Acquired by Heartland Advisors Inc.

Heartland Advisors Inc. purchased a new position in Acushnet (NYSE:GOLF) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,448 shares of the company’s stock, valued at approximately $3,846,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Acushnet during the second quarter worth approximately $496,463,000. Capital Research Global Investors grew its position in Acushnet by 8.5% in the 4th quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock valued at $116,936,000 after purchasing an additional 115,000 shares during the period. Morgan Stanley increased its stake in Acushnet by 22.3% during the 4th quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock valued at $110,091,000 after purchasing an additional 251,889 shares in the last quarter. Raymond James Financial Inc. increased its stake in Acushnet by 0.4% during the 2nd quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock valued at $69,358,000 after purchasing an additional 4,243 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Acushnet by 31.8% during the second quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock worth $33,312,000 after buying an additional 110,245 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

Insider Activity at Acushnet

In other news, insider Nicholas N. Mohamed sold 529 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the transaction, the insider directly owned 2,868 shares of the company’s stock, valued at $272,460. This represents a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Steven Francis Pelisek sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $91.26, for a total value of $1,368,900.00. Following the sale, the insider directly owned 70,512 shares of the company’s stock, valued at $6,434,925.12. The trade was a 17.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 53.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Truist Financial upped their target price on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. Wall Street Zen raised shares of Acushnet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Roth Capital reiterated a “neutral” rating and set a $95.00 price target on shares of Acushnet in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $99.17.

Acushnet Stock Performance

NYSE GOLF opened at $89.03 on Friday. Acushnet has a 1 year low of $73.09 and a 1 year high of $119.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 24.26 and a beta of 0.81. The company has a fifty day moving average price of $104.68 and a 200-day moving average price of $98.27.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Thursday, August 6th. The company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.45. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The company had revenue of $819.95 million for the quarter, compared to analyst estimates of $788.24 million. During the same period last year, the firm earned $1.25 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts predict that Acushnet will post 4.02 EPS for the current fiscal year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.02 annualized dividend and a dividend yield of 1.1%. Acushnet’s dividend payout ratio (DPR) is currently 27.79%.

Acushnet Profile

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.