Burney Co. Acquires Shares of 37,359 Acushnet $GOLF

Burney Co. bought a new position in shares of Acushnet (NYSE:GOLF) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 37,359 shares of the company’s stock, valued at approximately $2,932,000. Burney Co. owned approximately 0.06% of Acushnet at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Russell Investments Group Ltd. raised its position in Acushnet by 26.6% in the 1st quarter. Russell Investments Group Ltd. now owns 4,271 shares of the company’s stock worth $293,000 after purchasing an additional 898 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Acushnet by 9.9% in the 1st quarter. American Century Companies Inc. now owns 20,742 shares of the company’s stock valued at $1,424,000 after buying an additional 1,860 shares during the period. Northern Trust Corp increased its stake in shares of Acushnet by 3.3% in the 1st quarter. Northern Trust Corp now owns 365,969 shares of the company’s stock valued at $25,127,000 after buying an additional 11,800 shares during the period. Walleye Capital LLC bought a new stake in shares of Acushnet during the first quarter worth $973,000. Finally, Comerica Bank lifted its stake in shares of Acushnet by 35.5% during the first quarter. Comerica Bank now owns 34,317 shares of the company’s stock valued at $2,356,000 after acquiring an additional 8,994 shares during the period. 53.12% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GOLF. Truist Financial lifted their price objective on Acushnet from $65.00 to $74.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. KeyCorp lifted their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Acushnet from $67.00 to $74.00 and gave the company an “underweight” rating in a research note on Monday, December 15th. Finally, Roth Capital reiterated a “neutral” rating and set a $80.00 target price on shares of Acushnet in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $78.17.

Insider Activity

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 76,006 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, CEO David Eugene Maher sold 26,939 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was 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. This represents a 3.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 71,460 shares of company stock worth $5,786,311. Corporate insiders own 53.60% of the company’s stock.

Acushnet Stock Up 0.6%

Acushnet stock opened at $83.16 on Friday. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 22.72 and a beta of 0.89. The company’s 50 day simple moving average is $81.47 and its 200 day simple moving average is $78.65. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.42 and a quick ratio of 1.30. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $86.19.

Acushnet (NYSE:GOLF) last posted its earnings results on Wednesday, November 5th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $657.66 million during the quarter, compared to analyst estimates of $632.76 million. Acushnet had a return on equity of 27.50% and a net margin of 8.80%.The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.89 earnings per share. As a group, sell-side analysts anticipate that Acushnet will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a dividend of $0.235 per share. The ex-dividend date was Friday, December 5th. This represents a $0.94 annualized dividend and a yield of 1.1%. Acushnet’s payout ratio is currently 25.68%.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.