Teacher Retirement System of Texas Has $305,000 Holdings in Acushnet (NYSE:GOLF)

Teacher Retirement System of Texas lessened its holdings in Acushnet (NYSE:GOLF) by 7.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,449 shares of the company’s stock after selling 366 shares during the period. Teacher Retirement System of Texas’ holdings in Acushnet were worth $305,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. New York State Teachers Retirement System acquired a new position in Acushnet during the 1st quarter worth $414,000. Amalgamated Bank lifted its position in Acushnet by 712.0% during the 1st quarter. Amalgamated Bank now owns 7,836 shares of the company’s stock worth $538,000 after acquiring an additional 6,871 shares during the last quarter. KBC Group NV acquired a new position in Acushnet during the 1st quarter worth $44,000. Illinois Municipal Retirement Fund acquired a new position in Acushnet during the 1st quarter worth $907,000. Finally, Berry Wealth Group LP lifted its position in Acushnet by 8.0% during the 1st quarter. Berry Wealth Group LP now owns 3,075 shares of the company’s stock worth $211,000 after acquiring an additional 229 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOLF. Truist Financial boosted their target price on shares of Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Morgan Stanley boosted their target price on shares of Acushnet from $63.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday. Compass Point lowered shares of Acushnet from a “buy” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. Finally, KeyCorp reissued an “overweight” rating and set a $80.00 target price (up previously from $75.00) on shares of Acushnet in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Acushnet has an average rating of “Hold” and an average price target of $72.50.

Insiders Place Their Bets

In related news, Director Holdings Corp. Misto sold 953,406 shares of the company’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $65.56, for a total value of $62,505,297.36. Following the sale, the director owned 29,523,653 shares of the company’s stock, valued at $1,935,570,690.68. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 53.60% of the stock is currently owned by insiders.

Acushnet Stock Performance

NYSE:GOLF opened at $80.87 on Friday. The firm’s 50-day moving average is $72.72 and its 200-day moving average is $68.55. Acushnet has a 52-week low of $55.31 and a 52-week high of $81.58. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.21 and a current ratio of 2.21. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 22.46 and a beta of 0.84.

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

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a $0.235 dividend. The ex-dividend date was Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a yield of 1.16%. Acushnet’s payout ratio is currently 26.11%.

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.