Acushnet $GOLF Shares Purchased by Kennedy Capital Management LLC

Kennedy Capital Management LLC lifted its position in Acushnet (NYSE:GOLF) by 11.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 217,803 shares of the company’s stock after acquiring an additional 22,424 shares during the period. Kennedy Capital Management LLC’s holdings in Acushnet were worth $17,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in GOLF. Royal Bank of Canada increased its position in shares of Acushnet by 6.6% in the 1st quarter. Royal Bank of Canada now owns 88,703 shares of the company’s stock valued at $6,090,000 after acquiring an additional 5,510 shares during the period. AQR Capital Management LLC grew its position in Acushnet by 2.5% during the 1st quarter. AQR Capital Management LLC now owns 19,498 shares of the company’s stock worth $1,339,000 after purchasing an additional 475 shares during the period. Integrated Wealth Concepts LLC grew its position in Acushnet by 13.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,603 shares of the company’s stock worth $316,000 after purchasing an additional 548 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Acushnet by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company’s stock worth $1,137,000 after purchasing an additional 460 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Acushnet by 39.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock worth $17,152,000 after purchasing an additional 70,095 shares during the period. 53.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on GOLF. Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a research report on Thursday, February 26th. Zacks Research downgraded Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Truist Financial increased their price target on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. Roth Mkm set a $87.00 price target on Acushnet in a research report on Thursday, May 7th. Finally, UBS Group set a $100.00 price target on Acushnet in a research report on Thursday, February 26th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $94.17.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were 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. This trade represents a 17.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas N. Mohamed sold 529 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $50,255.00. Following the completion of the transaction, the insider directly owned 2,868 shares in the company, valued at $272,460. This represents a 15.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 53.30% of the company’s stock.

Acushnet Trading Down 1.3%

GOLF stock opened at $98.13 on Friday. The company’s 50-day simple moving average is $92.75 and its 200-day simple moving average is $91.88. 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 $69.54 and a 52-week high of $104.81. The firm has a market cap of $5.75 billion, a P/E ratio of 34.55 and a beta of 0.85.

Acushnet (NYSE:GOLF) last posted its earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.02). Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The firm had revenue of $752.98 million for the quarter, compared to analysts’ expectations of $722.48 million. During the same period in the previous year, the company earned $1.62 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts forecast that Acushnet will post 3.82 EPS for the current fiscal year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.02 dividend on an annualized basis and a yield of 1.0%. Acushnet’s dividend payout ratio (DPR) is currently 35.92%.

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.