Arizona State Retirement System Has $599,000 Stock Holdings in Acushnet (NYSE:GOLF)

Arizona State Retirement System cut its position in Acushnet (NYSE:GOLF) by 2.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,721 shares of the company’s stock after selling 249 shares during the quarter. Arizona State Retirement System’s holdings in Acushnet were worth $599,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in Acushnet by 6.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company’s stock worth $240,000 after purchasing an additional 203 shares during the period. Heritage Family Offices LLP lifted its holdings in Acushnet by 7.4% in the first quarter. Heritage Family Offices LLP now owns 3,090 shares of the company’s stock valued at $212,000 after acquiring an additional 212 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Acushnet by 1.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company’s stock valued at $1,144,000 after buying an additional 213 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Acushnet by 1.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company’s stock valued at $953,000 after purchasing an additional 217 shares during the last quarter. Finally, Berry Wealth Group LP grew its holdings in Acushnet by 8.0% in the 1st quarter. Berry Wealth Group LP now owns 3,075 shares of the company’s stock valued at $211,000 after buying an additional 229 shares in the last quarter. 53.12% of the stock is owned by institutional investors.

Insider Activity at Acushnet

In related news, Director Holdings Corp. Misto sold 953,406 shares of the firm’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the completion of the sale, the director directly owned 29,523,653 shares in the company, valued at approximately $1,935,570,690.68. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 53.60% of the stock is owned by company insiders.

Acushnet Stock Up 0.0%

Shares of NYSE:GOLF opened at $80.87 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.19. The business has a fifty day simple moving average of $72.72 and a 200 day simple moving average of $68.51. The firm has a market cap of $4.75 billion, a P/E ratio of 22.46 and a beta of 0.84. Acushnet has a 12-month low of $55.31 and a 12-month high of $81.81.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.30. The firm had revenue of $703.37 million during 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 business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.35 EPS. Analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.235 per share. The ex-dividend date of this dividend 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 26.11%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GOLF shares. KeyCorp restated an “overweight” rating and issued a $80.00 price objective (up from $75.00) on shares of Acushnet in a research report on Friday, June 27th. Morgan Stanley raised their price objective on Acushnet from $63.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday. Truist Financial boosted their price objective on shares of Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Finally, Compass Point lowered shares of Acushnet from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $80.00 to $71.00 in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Acushnet presently has an average rating of “Hold” and a consensus target price of $72.50.

About Acushnet

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.