Acushnet (NYSE:GOLF) Stake Raised by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of Acushnet (NYSE:GOLF) by 96.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 651 shares of the company’s stock after buying an additional 319 shares during the period. GAMMA Investing LLC’s holdings in Acushnet were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of Acushnet by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company’s stock valued at $107,097,000 after buying an additional 5,661 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Acushnet by 5.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company’s stock valued at $76,654,000 after buying an additional 54,314 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Acushnet during the fourth quarter valued at approximately $28,641,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Acushnet by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,744 shares of the company’s stock valued at $25,713,000 after buying an additional 2,793 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Acushnet by 8.7% during the fourth quarter. Northern Trust Corp now owns 354,169 shares of the company’s stock worth $25,174,000 after purchasing an additional 28,314 shares in the last quarter. Institutional investors own 53.12% of the company’s stock.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $78.19 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.21 and a quick ratio of 1.21. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 21.72 and a beta of 0.84. Acushnet has a 12 month low of $55.31 and a 12 month high of $79.23. The stock’s 50 day moving average price is $71.29 and its 200 day moving average price is $68.22.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.30. The firm had revenue of $703.37 million for the quarter, compared to analyst estimates of $697.82 million. Acushnet had a net margin of 9.21% and a return on equity of 26.81%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.35 earnings per share. Equities research analysts anticipate that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.235 dividend. The ex-dividend date was Friday, June 6th. This represents a $0.94 annualized dividend and a yield of 1.20%. Acushnet’s dividend payout ratio (DPR) is 26.11%.

Analysts Set New Price Targets

Several brokerages recently commented on GOLF. Compass Point cut Acushnet from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $80.00 to $71.00 in a report on Monday, May 5th. KeyCorp reissued an “overweight” rating and set a $80.00 target price (up previously from $75.00) on shares of Acushnet in a report on Friday, June 27th. Finally, Truist Financial boosted their target price on Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Acushnet has an average rating of “Hold” and a consensus target price of $71.00.

Acushnet 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.