Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) announced a quarterly dividend on Friday, May 6th, Wall Street Journal reports. Shareholders 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 yield of 1.78%. The ex-dividend date of this dividend is Thursday, June 2nd.
Acushnet has increased its dividend by an average of 8.3% per year 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% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Acushnet to earn $2.89 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 24.9%.
GOLF opened at $40.42 on Friday. Acushnet has a 1-year low of $39.59 and a 1-year high of $57.87. The company has a market cap of $2.92 billion, a P/E ratio of 17.27 and a beta of 0.76. The company has a fifty day moving average price of $42.06 and a two-hundred day moving average price of $47.64. The company has a current ratio of 2.01, a quick ratio of 1.15 and a debt-to-equity ratio of 0.28.
A number of equities research analysts have weighed in on GOLF shares. Truist Financial cut their price objective on shares of Acushnet from $48.00 to $44.00 and set a “hold” rating on the stock in a report on Monday, April 11th. Morgan Stanley cut their price objective on shares of Acushnet from $56.00 to $48.00 and set an “equal weight” rating on the stock in a report on Monday, April 25th. Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Tuesday, January 18th. StockNews.com started coverage on shares of Acushnet in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research upgraded shares of Acushnet from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $53.14.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOLF. Morgan Stanley raised its position in shares of Acushnet by 5.2% during the 2nd quarter. Morgan Stanley now owns 412,058 shares of the company’s stock valued at $20,357,000 after purchasing an additional 20,238 shares during the period. Royal Bank of Canada raised its position in shares of Acushnet by 20.0% during the 3rd 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 period. BNP Paribas Arbitrage SA raised its position in shares of Acushnet by 28.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 15,919 shares of the company’s stock valued at $743,000 after purchasing an additional 3,555 shares during the period. Geode Capital Management LLC raised its position in shares of Acushnet by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 580,798 shares of the company’s stock valued at $30,828,000 after purchasing an additional 11,198 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Acushnet by 68.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 323,425 shares of the company’s stock valued at $17,168,000 after purchasing an additional 131,277 shares during the period. Institutional investors and hedge funds own 49.45% of the company’s stock.
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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