Acushnet $GOLF Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its stake in Acushnet (NYSE:GOLF) by 35.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,357 shares of the company’s stock after acquiring an additional 54,088 shares during the period. Fisher Asset Management LLC owned 0.36% of Acushnet worth $15,173,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of 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 lifted its holdings in 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 during the last quarter. Wellington Management Group LLP lifted its holdings in 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. grew its position in shares of Acushnet by 7.5% in the 1st quarter. Raymond James Financial Inc. now owns 948,210 shares of the company’s stock worth $65,104,000 after acquiring an additional 65,922 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Acushnet by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 662,194 shares of the company’s stock valued at $48,227,000 after acquiring an additional 5,009 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

Analysts Set New Price Targets

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

Acushnet Stock Performance

GOLF stock opened at $83.81 on Thursday. The company has a 50-day simple moving average of $80.14 and a 200 day simple moving average of $77.04. The company has a market capitalization of $4.92 billion, a P/E ratio of 22.90 and a beta of 0.89. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $85.95.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates 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 quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 earnings per share. Sell-side analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, December 5th. This represents a $0.94 annualized dividend and a dividend yield of 1.1%. Acushnet’s dividend payout ratio (DPR) is 25.68%.

Insiders Place Their Bets

In other Acushnet news, CEO David Eugene Maher sold 26,939 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $79.33, for a total value of $2,137,070.87. Following the sale, the chief executive officer directly owned 852,092 shares in the company, valued at approximately $67,596,458.36. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 71,460 shares of company stock worth $5,786,311 in the last three months. Company insiders own 53.60% of the company’s stock.

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.