Canada Pension Plan Investment Board Invests $83,000 in Acushnet Holdings Corp. (NYSE:GOLF)

Canada Pension Plan Investment Board acquired a new position in Acushnet Holdings Corp. (NYSE:GOLF) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,300 shares of the company’s stock, valued at approximately $83,000.

Other hedge funds have also recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new position in Acushnet during the 1st quarter valued at $27,000. Benjamin F. Edwards & Company Inc. grew its position in shares of 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 buying an additional 585 shares during the period. Crestwood Advisors Group LLC purchased a new stake in shares of Acushnet in the 2nd quarter worth about $200,000. Quest Partners LLC purchased a new stake in shares of Acushnet in the 2nd quarter worth about $209,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Acushnet in the 1st quarter worth about $220,000. 53.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Acushnet

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were 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 approximately $2,016,398,287.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 54.60% of the company’s stock.

Analysts Set New Price Targets

GOLF has been the topic of a number of recent research reports. Truist Financial upped their target price on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and reduced their target price for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Finally, Compass Point dropped their price target on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $67.43.

Acushnet Stock Performance

Shares of Acushnet stock opened at $64.16 on Monday. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 22.28 and a beta of 0.85. The firm’s 50-day moving average is $66.75 and its 200 day moving average is $64.79. Acushnet Holdings Corp. has a 1 year low of $49.42 and a 1 year high of $74.77. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.28 and a quick ratio of 1.27.

Acushnet (NYSE:GOLF) last posted its earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.09). The company had revenue of $683.90 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 EPS. Sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.02 EPS for the current fiscal year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.34%. The ex-dividend date was Friday, September 6th. Acushnet’s dividend payout ratio is currently 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.