Raymond James Trust N.A. Buys Shares of 4,902 Acushnet Holdings Corp. (NYSE:GOLF)

Raymond James Trust N.A. bought a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,902 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Acushnet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,126,762 shares of the company’s stock valued at $125,883,000 after buying an additional 24,312 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Acushnet by 6.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,307,902 shares of the company’s stock valued at $96,194,000 after buying an additional 133,079 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Acushnet by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,530,671 shares of the company’s stock valued at $61,630,000 after buying an additional 64,464 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Acushnet by 8.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,437,750 shares of the company’s stock valued at $59,925,000 after buying an additional 116,287 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Acushnet by 21.1% in the 2nd quarter. Macquarie Group Ltd. now owns 1,306,948 shares of the company’s stock valued at $54,474,000 after buying an additional 228,162 shares in the last quarter. Hedge funds and other institutional investors own 49.39% of the company’s stock.

Acushnet Stock Up 1.0 %

Shares of GOLF stock opened at $47.61 on Tuesday. Acushnet Holdings Corp. has a 12 month low of $37.46 and a 12 month high of $53.94. The firm has a market cap of $3.34 billion, a PE ratio of 20.09 and a beta of 0.75. The stock has a 50 day moving average of $45.02 and a 200-day moving average of $46.32. The company has a quick ratio of 1.10, a current ratio of 2.17 and a debt-to-equity ratio of 0.39.

Acushnet (NYSE:GOLF – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.13. Acushnet had a return on equity of 16.12% and a net margin of 7.80%. The company had revenue of $558.20 million during the quarter, compared to analyst estimates of $517.42 million. During the same period in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts predict that Acushnet Holdings Corp. will post 2.69 EPS for the current year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. Acushnet’s dividend payout ratio (DPR) is presently 30.38%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley lowered their price target on Acushnet from $52.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, November 7th. Truist Financial decreased their target price on Acushnet from $50.00 to $48.00 and set a “hold” rating for the company in a research report on Wednesday, October 5th. StockNews.com cut Acushnet from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Roth Capital cut Acushnet from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $62.00 to $45.00 in a research report on Tuesday, October 18th. Finally, JPMorgan Chase & Co. decreased their target price on Acushnet from $50.00 to $47.00 in a research report on Wednesday, October 26th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Acushnet has an average rating of “Hold” and an average price target of $50.14.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 700 shares of the company’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $44.00, for a total value of $30,800.00. Following the completion of the transaction, the insider now directly owns 132,408 shares in the company, valued at $5,825,952. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 53.00% of the company’s stock.

Acushnet Profile

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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.