Acushnet Holdings Corp. (NYSE:GOLF) Declares Quarterly Dividend of $0.18

Acushnet Holdings Corp. (NYSE:GOLFGet Rating) announced a quarterly dividend on Friday, May 6th, Wall Street Journal reports. Stockholders of record on Friday, June 3rd will be given a dividend of 0.18 per share on Friday, June 17th. This represents a $0.72 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, June 2nd.

Acushnet has increased its dividend payment by an average of 8.3% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Acushnet has a dividend payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Acushnet to earn $2.86 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 25.2%.

GOLF opened at $40.42 on Friday. Acushnet has a twelve month low of $39.59 and a twelve month high of $57.87. The company has a quick ratio of 1.15, a current ratio of 2.01 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $42.06 and a 200-day moving average of $47.64. The stock has a market cap of $2.92 billion, a PE ratio of 17.27 and a beta of 0.76.

Acushnet (NYSE:GOLFGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.30. Acushnet had a net margin of 8.33% and a return on equity of 15.90%. The company had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $571.20 million. During the same period in the prior year, the company posted $1.13 earnings per share. Acushnet’s revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts anticipate that Acushnet will post 2.69 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the business. Credit Suisse AG lifted its stake in shares of Acushnet by 1.8% in the fourth quarter. Credit Suisse AG now owns 28,651 shares of the company’s stock valued at $1,520,000 after buying an additional 510 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Acushnet by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 49,907 shares of the company’s stock valued at $2,649,000 after purchasing an additional 878 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Acushnet by 3.6% in the fourth quarter. Deutsche Bank AG now owns 25,480 shares of the company’s stock valued at $1,352,000 after purchasing an additional 885 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Acushnet by 25.0% in the fourth quarter. LPL Financial LLC now owns 7,279 shares of the company’s stock valued at $386,000 after purchasing an additional 1,455 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Acushnet by 20.0% in the third quarter. Royal Bank of Canada now owns 12,694 shares of the company’s stock valued at $592,000 after purchasing an additional 2,117 shares during the last quarter. 49.45% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on the stock. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Tuesday, January 18th. Morgan Stanley cut their target price on shares of Acushnet from $56.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. KeyCorp cut their target price on shares of Acushnet from $63.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, March 3rd. Zacks Investment Research raised shares of Acushnet from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Wednesday. Finally, Truist Financial cut their target price on shares of Acushnet from $48.00 to $44.00 and set a “hold” rating on the stock in a research note on Monday, April 11th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $53.14.

Acushnet Company Profile (Get Rating)

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.

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Dividend History for Acushnet (NYSE:GOLF)

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