Steward Partners Investment Advisory LLC Boosts Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

Steward Partners Investment Advisory LLC grew its position in shares of Acushnet Holdings Corp. (NYSE:GOLFGet Rating) by 10.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,649 shares of the company’s stock after buying an additional 251 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Acushnet were worth $107,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Acushnet during the 4th quarter valued at $25,000. Point72 Hong Kong Ltd purchased a new position in shares of Acushnet during the 4th quarter valued at $34,000. MUFG Americas Holdings Corp lifted its position in shares of Acushnet by 154.1% during the 4th quarter. MUFG Americas Holdings Corp now owns 1,197 shares of the company’s stock valued at $64,000 after buying an additional 726 shares during the last quarter. HM Payson & Co. lifted its position in shares of Acushnet by 69.6% during the 4th quarter. HM Payson & Co. now owns 3,664 shares of the company’s stock valued at $194,000 after buying an additional 1,504 shares during the last quarter. Finally, SkyView Investment Advisors LLC purchased a new position in shares of Acushnet during the 4th quarter valued at $401,000. Hedge funds and other institutional investors own 49.45% of the company’s stock.

Acushnet Price Performance

Shares of NYSE GOLF opened at $47.25 on Wednesday. The firm has a market capitalization of $3.41 billion, a P/E ratio of 20.19 and a beta of 0.77. The company has a quick ratio of 1.13, a current ratio of 1.97 and a debt-to-equity ratio of 0.26. The stock’s 50-day simple moving average is $43.27 and its two-hundred day simple moving average is $43.06. Acushnet Holdings Corp. has a twelve month low of $37.46 and a twelve month high of $57.87.

Acushnet (NYSE:GOLFGet Rating) last announced its earnings results on Thursday, May 5th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.31. The business had revenue of $606.10 million for the quarter, compared to analyst estimates of $571.20 million. Acushnet had a return on equity of 15.47% and a net margin of 8.05%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 EPS. As a group, equities analysts anticipate that Acushnet Holdings Corp. will post 2.78 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Friday, June 3rd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Thursday, June 2nd. Acushnet’s payout ratio is currently 30.77%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GOLF. StockNews.com lowered Acushnet from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. Truist Financial decreased their price objective on Acushnet from $48.00 to $44.00 and set a “hold” rating on the stock in a research note on Monday, April 11th. Finally, Morgan Stanley decreased their price objective on Acushnet from $56.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Acushnet has an average rating of “Hold” and a consensus price target of $54.17.

Acushnet Company Profile

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Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.

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Institutional Ownership by Quarter for Acushnet (NYSE:GOLF)

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