Handelsbanken Fonder AB Has $685,000 Position in Acushnet $GOLF

Handelsbanken Fonder AB decreased its position in shares of Acushnet (NYSE:GOLF) by 10.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,400 shares of the company’s stock after selling 1,100 shares during the period. Handelsbanken Fonder AB’s holdings in Acushnet were worth $685,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GOLF. Vanguard Group Inc. lifted its stake in Acushnet by 9.6% during the first quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company’s stock worth $212,205,000 after purchasing an additional 269,742 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Acushnet by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,549,266 shares of the company’s stock worth $106,366,000 after buying an additional 42,533 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Acushnet by 6.7% during the 1st quarter. Wellington Management Group LLP now owns 1,310,965 shares of the company’s stock worth $90,011,000 after buying an additional 82,247 shares during the last quarter. Raymond James Financial Inc. boosted its stake in Acushnet by 7.5% in the first quarter. Raymond James Financial Inc. now owns 948,210 shares of the company’s stock valued at $65,104,000 after buying an additional 65,922 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Acushnet by 0.8% in the second quarter. Geode Capital Management LLC now owns 662,194 shares of the company’s stock valued at $48,227,000 after buying an additional 5,009 shares in the last quarter. 53.12% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total value of $1,693,200.00. Following the transaction, the insider directly owned 76,006 shares of the company’s stock, valued at $6,434,667.96. The trade was a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Eugene Maher sold 26,939 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $79.33, for a total transaction of $2,137,070.87. Following the sale, the chief executive officer directly owned 852,092 shares of the company’s stock, valued at $67,596,458.36. This represents a 3.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 71,460 shares of company stock worth $5,786,311. 53.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, October 8th. Roth Capital reaffirmed a “neutral” rating and set a $80.00 price target on shares of Acushnet in a report on Thursday, November 6th. Zacks Research downgraded shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Truist Financial increased their price objective on shares of Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Finally, KeyCorp raised their target price on shares of Acushnet from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.50.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $84.10 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.30 and a current ratio of 2.42. Acushnet has a 52 week low of $55.31 and a 52 week high of $85.95. The firm has a market cap of $4.93 billion, a PE ratio of 22.98 and a beta of 0.90. The firm’s fifty day moving average is $79.60 and its 200-day moving average is $76.77.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, November 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The company had revenue of $657.66 million for the quarter, compared to the consensus estimate of $632.76 million. Acushnet had a return on equity of 27.50% and a net margin of 8.80%.The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 earnings per share. Acushnet has set its FY 2025 guidance at EPS. Sell-side analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, December 5th. Acushnet’s dividend payout ratio (DPR) is 25.68%.

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.