Acushnet $GOLF Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its holdings in Acushnet (NYSE:GOLF) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,520,416 shares of the company’s stock after selling 10,893 shares during the period. Dimensional Fund Advisors LP owned about 2.60% of Acushnet worth $142,119,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in Acushnet by 36,310.7% in the first quarter. Fifth Third Bancorp now owns 27,308 shares of the company’s stock valued at $2,553,000 after purchasing an additional 27,233 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Acushnet during the 1st quarter worth about $1,140,000. Kennedy Capital Management LLC raised its stake in shares of Acushnet by 11.5% during the 4th quarter. Kennedy Capital Management LLC now owns 217,803 shares of the company’s stock valued at $17,385,000 after buying an additional 22,424 shares during the last quarter. M&T Bank Corp raised its stake in shares of Acushnet by 668.1% during the 4th quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock valued at $12,761,000 after buying an additional 139,060 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Acushnet by 8.5% in the 4th quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock valued at $116,936,000 after buying an additional 115,000 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Trading Down 0.2%

GOLF stock opened at $104.46 on Monday. The company’s 50-day simple moving average is $102.71 and its 200-day simple moving average is $97.77. The company has a quick ratio of 1.59, a current ratio of 2.87 and a debt-to-equity ratio of 1.36. Acushnet has a 52-week low of $73.09 and a 52-week high of $119.65. The firm has a market cap of $6.12 billion, a P/E ratio of 36.78 and a beta of 0.80.

Acushnet (NYSE:GOLF) last posted its earnings results on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The business had revenue of $752.98 million for the quarter, compared to analyst estimates of $722.48 million. During the same quarter last year, the business earned $1.62 earnings per share. Acushnet’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts forecast that Acushnet will post 3.75 EPS for the current fiscal year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, June 5th. Acushnet’s dividend payout ratio (DPR) is presently 35.92%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Roth Capital set a $87.00 target price on Acushnet in a report on Thursday, May 7th. Weiss Ratings raised Acushnet from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Truist Financial upped their price objective on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Acushnet currently has an average rating of “Hold” and an average price target of $97.83.

Insider Buying and Selling

In other news, insider Nicholas N. Mohamed sold 529 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the sale, the insider directly owned 2,868 shares in the company, valued at $272,460. The trade was a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Francis Pelisek sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the transaction, the insider directly owned 70,512 shares of the company’s stock, valued at approximately $6,434,925.12. The trade was a 17.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 53.30% of the stock is owned by insiders.

Acushnet Profile

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.