Quest Partners LLC Increases Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Quest Partners LLC boosted its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 258.8% during the 3rd quarter, Holdings Channel reports. The firm owned 11,825 shares of the company’s stock after acquiring an additional 8,529 shares during the quarter. Quest Partners LLC’s holdings in Acushnet were worth $754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of GOLF. Janney Montgomery Scott LLC lifted its stake in shares of Acushnet by 15.1% during the first quarter. Janney Montgomery Scott LLC now owns 4,502 shares of the company’s stock worth $297,000 after buying an additional 591 shares during the period. Russell Investments Group Ltd. acquired a new stake in Acushnet during the 1st quarter worth about $220,000. US Bancorp DE grew its stake in Acushnet by 7.9% during the 1st quarter. US Bancorp DE now owns 5,363 shares of the company’s stock valued at $354,000 after purchasing an additional 393 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Acushnet by 6.6% in the first quarter. ProShare Advisors LLC now owns 5,447 shares of the company’s stock valued at $359,000 after purchasing an additional 339 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Acushnet by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock worth $198,530,000 after purchasing an additional 15,088 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Wall Street Analysts Forecast Growth

GOLF has been the topic of several research reports. Compass Point cut their price target on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and cut their price objective for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Finally, Truist Financial boosted their target price on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $71.40.

Acushnet Price Performance

Shares of NYSE GOLF opened at $71.51 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 24.32 and a beta of 0.85. The firm’s 50 day simple moving average is $64.36 and its 200-day simple moving average is $65.12. Acushnet Holdings Corp. has a 12 month low of $55.74 and a 12 month high of $76.38.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. The company had revenue of $620.50 million for the quarter, compared to analyst estimates of $620.40 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. Analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.215 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a yield of 1.20%. Acushnet’s payout ratio is 29.25%.

About Acushnet

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.