Fisher Asset Management LLC Raises Holdings in Acushnet $GOLF

Fisher Asset Management LLC boosted its position in Acushnet (NYSE:GOLF) by 238.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 704,151 shares of the company’s stock after purchasing an additional 495,794 shares during the quarter. Fisher Asset Management LLC owned about 1.20% of Acushnet worth $55,269,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Burney Co. acquired a new position in Acushnet during the third quarter worth $2,932,000. Envestnet Asset Management Inc. increased its stake in shares of Acushnet by 8.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 246,963 shares of the company’s stock worth $17,984,000 after acquiring an additional 19,612 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Acushnet by 61,260.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 12,272 shares of the company’s stock worth $894,000 after acquiring an additional 12,252 shares during the period. Tributary Capital Management LLC boosted its position in shares of Acushnet by 92.6% during the 3rd quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock valued at $35,908,000 after acquiring an additional 219,895 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of Acushnet by 19.2% in the third quarter. Public Sector Pension Investment Board now owns 107,493 shares of the company’s stock valued at $8,437,000 after purchasing an additional 17,319 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a research note on Thursday, February 26th. Truist Financial lifted their price target on shares of Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, February 9th. UBS Group set a $100.00 price objective on Acushnet in a report on Thursday, February 26th. Roth Mkm reissued a “neutral” rating and set a $80.00 target price on shares of Acushnet in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $89.57.

Acushnet Stock Down 2.2%

Shares of NYSE GOLF opened at $99.14 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03. The business’s 50 day moving average is $93.76 and its two-hundred day moving average is $84.52. Acushnet has a 52-week low of $55.31 and a 52-week high of $104.81. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 31.98 and a beta of 0.88.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.31). The firm had revenue of $477.22 million during the quarter, compared to analyst estimates of $453.59 million. Acushnet had a net margin of 7.37% and a return on equity of 33.68%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) earnings per share. Research analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $0.255 per share. This is a boost from Acushnet’s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Acushnet’s dividend payout ratio is currently 30.32%.

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.