Acushnet Holdings Corp. (NYSE:GOLF) Stock Holdings Boosted by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in Acushnet Holdings Corp. (NYSE:GOLF) by 2.5% during the third quarter, Holdings Channel reports. The institutional investor owned 22,831 shares of the company’s stock after buying an additional 548 shares during the quarter. Franklin Resources Inc.’s holdings in Acushnet were worth $1,455,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in Acushnet by 871.1% during the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after buying an additional 889,515 shares in the last quarter. FMR LLC boosted its stake in shares of Acushnet by 2.5% during the 3rd quarter. FMR LLC now owns 441,069 shares of the company’s stock worth $28,118,000 after acquiring an additional 10,762 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Acushnet in the 3rd quarter worth $1,443,000. Raymond James & Associates raised its position in shares of Acushnet by 0.9% during the third quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock worth $29,714,000 after purchasing an additional 4,300 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of Acushnet during the third quarter valued at $508,000. Institutional investors own 53.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Jefferies Financial Group cut Acushnet from a “buy” rating to a “hold” rating and dropped their price target for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Truist Financial raised their target price on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Three 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $71.40.

Acushnet Stock Down 1.1 %

Shares of Acushnet stock opened at $70.69 on Friday. Acushnet Holdings Corp. has a 1 year low of $58.54 and a 1 year high of $76.59. The company has a market cap of $4.30 billion, a P/E ratio of 24.04 and a beta of 0.88. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average price of $69.11 and a 200 day moving average price of $66.67.

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

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, December 6th. Acushnet’s dividend payout ratio (DPR) is currently 29.25%.

Insider Transactions at Acushnet

In related news, insider Christopher Aaron Lindner sold 5,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the transaction, the insider now owns 88,710 shares in the company, valued at approximately $6,556,556.10. This represents a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 54.60% of the stock is currently owned by company insiders.

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.