AQR Capital Management LLC Increases Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

AQR Capital Management LLC boosted its position in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 6.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 19,506 shares of the company’s stock after buying an additional 1,214 shares during the period. AQR Capital Management LLC’s holdings in Acushnet were worth $1,238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GOLF. New Covenant Trust Company N.A. purchased a new position in shares of Acushnet in the 1st quarter valued at $27,000. Benjamin F. Edwards & Company Inc. boosted its position in 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 purchasing an additional 585 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Acushnet during the 2nd quarter worth approximately $83,000. Crestwood Advisors Group LLC acquired a new stake in shares of Acushnet during the 2nd quarter valued at about $200,000. Finally, Quest Partners LLC purchased a new stake in Acushnet in the 2nd quarter worth $209,000. 53.12% of the stock is owned by institutional investors.

Acushnet Stock Performance

Acushnet stock opened at $63.80 on Friday. The stock has a fifty day moving average price of $65.24 and a 200 day moving average price of $64.78. Acushnet Holdings Corp. has a 52 week low of $49.42 and a 52 week high of $74.77. The company has a current ratio of 2.28, a quick ratio of 1.27 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $3.94 billion, a P/E ratio of 22.00 and a beta of 0.84.

Acushnet (NYSE:GOLF) last released its 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 business had revenue of $683.90 million for the quarter, compared to analysts’ expectations of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 earnings per share. Equities research analysts anticipate that Acushnet Holdings Corp. will post 3.02 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given 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 29.66%.

Insider Activity

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 31,412,966 shares in the company, valued at $2,016,398,287.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GOLF shares. Compass Point cut their target price on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Truist Financial boosted their price target on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and reduced their price objective for the company from $86.00 to $75.00 in a report on Tuesday, September 17th. Five equities research 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 presently has a consensus rating of “Hold” and a consensus price target of $67.43.

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.