Acushnet Holdings Corp. (NYSE:GOLF) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 8.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,478 shares of the company’s stock after purchasing an additional 260 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Acushnet were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in Acushnet in the 4th quarter valued at about $9,318,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Acushnet by 7.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,403 shares of the company’s stock worth $531,000 after buying an additional 566 shares during the period. Federated Hermes Inc. acquired a new stake in Acushnet during the 4th quarter worth approximately $32,000. Linden Thomas Advisory Services LLC purchased a new position in Acushnet in the 4th quarter valued at approximately $216,000. Finally, Truist Financial Corp grew its stake in shares of Acushnet by 22.3% in the fourth quarter. Truist Financial Corp now owns 7,661 shares of the company’s stock worth $484,000 after acquiring an additional 1,395 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOLF. Truist Financial increased their price objective on Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. 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 note on Tuesday, May 28th. Finally, Compass Point lowered their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Acushnet currently has a consensus rating of “Hold” and an average price target of $66.43.

Insider Buying and Selling at Acushnet

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of Acushnet 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 sale, the director now owns 31,412,966 shares in the company, valued at $2,016,398,287.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 54.60% of the stock is currently owned by insiders.

Acushnet Trading Up 1.7 %

GOLF opened at $67.00 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.46 and a current ratio of 2.69. Acushnet Holdings Corp. has a one year low of $49.42 and a one year high of $74.77. The company has a market cap of $4.23 billion, a P/E ratio of 23.26 and a beta of 0.85. The business’s 50-day simple moving average is $66.16 and its 200-day simple moving average is $64.98.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.09). The company had revenue of $683.90 million during the quarter, compared to analysts’ expectations of $709.83 million. Acushnet had a net margin of 8.03% and a return on equity of 20.65%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. As a group, equities research analysts expect that Acushnet Holdings Corp. will post 3.12 EPS for the current fiscal year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a $0.215 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.86 dividend on an annualized basis and a yield of 1.28%. Acushnet’s dividend payout ratio (DPR) is presently 29.86%.

Acushnet Company 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.