State of Wyoming Acquires New Position in Acushnet $GOLF

State of Wyoming acquired a new stake in Acushnet (NYSE:GOLF) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 14,740 shares of the company’s stock, valued at approximately $1,747,000.

A number of other institutional investors also recently modified their holdings of the stock. Millstone Evans Group LLC grew its holdings in shares of Acushnet by 170.2% during the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock valued at $26,000 after acquiring an additional 177 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Acushnet by 389.6% during the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after acquiring an additional 261 shares in the last quarter. Kelleher Financial Advisors purchased a new stake in shares of Acushnet during the third quarter worth $28,000. EverSource Wealth Advisors LLC boosted its position in Acushnet by 149.7% during the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after purchasing an additional 295 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Acushnet by 416.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 635 shares of the company’s stock valued at $50,000 after purchasing an additional 512 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Trading Down 0.2%

Shares of NYSE:GOLF opened at $89.76 on Friday. The stock has a market capitalization of $5.24 billion, a PE ratio of 24.46 and a beta of 0.81. Acushnet has a 1 year low of $73.09 and a 1 year high of $119.65. The firm has a fifty day moving average price of $105.26 and a 200 day moving average price of $98.47. The company has a current ratio of 2.55, a quick ratio of 1.48 and a debt-to-equity ratio of 1.01.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, August 6th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.63 by $0.45. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The firm had revenue of $819.95 million for the quarter, compared to the consensus estimate of $788.24 million. During the same period in the prior year, the business posted $1.25 earnings per share. The business’s quarterly revenue was up 13.8% on a year-over-year basis. Analysts expect that Acushnet will post 3.99 EPS for the current fiscal year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. Acushnet’s dividend payout ratio is currently 27.79%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Weiss Ratings raised Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Truist Financial lifted their price target on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a report on Tuesday, May 19th. Roth Capital reissued a “neutral” rating and issued a $95.00 price target on shares of Acushnet in a research note on Friday, August 7th. JPMorgan Chase & Co. boosted their price target on Acushnet from $96.00 to $118.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Finally, Wall Street Zen raised shares of Acushnet from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $99.17.

Insider Buying and Selling

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

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.