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

Raymond James & Associates boosted its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 0.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 466,099 shares of the company’s stock after buying an additional 4,300 shares during the period. Raymond James & Associates’ holdings in Acushnet were worth $29,714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in Acushnet by 871.1% in the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock valued at $62,948,000 after buying an additional 889,515 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Acushnet in the 1st quarter worth approximately $8,754,000. Thornburg Investment Management Inc. bought a new stake in shares of Acushnet in the 2nd quarter valued at 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 valued at $4,708,000 after acquiring an additional 70,966 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in Acushnet during the first quarter worth $2,026,000. Institutional investors own 53.12% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Compass Point lowered their target price on shares of 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 objective on shares of Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group lowered Acushnet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.43.

Acushnet Trading Down 2.4 %

Shares of GOLF stock opened at $60.16 on Thursday. Acushnet Holdings Corp. has a 1 year low of $49.42 and a 1 year high of $74.77. The firm has a market capitalization of $3.79 billion, a PE ratio of 20.89 and a beta of 0.84. The stock has a fifty day moving average of $64.55 and a two-hundred day moving average of $64.61. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28.

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

Acushnet Announces Dividend

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

Insiders Place Their Bets

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of Acushnet stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.19, for a total value of $71,250,900.00. Following the transaction, the director now owns 31,412,966 shares of the company’s stock, valued at $2,016,398,287.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 54.60% of the stock is owned by company insiders.

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.