Strategic Financial Concepts LLC Takes $1.16 Million Position in Acushnet Holdings Corp. (NYSE:GOLF)

Strategic Financial Concepts LLC purchased a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,195 shares of the company’s stock, valued at approximately $1,155,000.

A number of other hedge funds have also made changes to their positions in GOLF. Victory Capital Management Inc. grew its position in shares of Acushnet by 871.1% during the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after buying an additional 889,515 shares in the last quarter. Norges Bank acquired a new stake in shares of Acushnet during the fourth quarter worth approximately $21,945,000. Edgestream Partners L.P. acquired a new position in Acushnet in the first quarter worth $8,754,000. Eagle Asset Management Inc. acquired a new position in Acushnet in the fourth quarter worth $7,673,000. Finally, Capstone Investment Advisors LLC acquired a new position in Acushnet in the first quarter worth $2,026,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insider Activity at Acushnet

In related news, Director Holdings Corp. Fila sold 587,520 shares of Acushnet stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total transaction of $37,501,401.60. Following the sale, the director now directly owns 32,522,966 shares in the company, valued at $2,075,940,919.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 54.60% of the company’s stock.

Acushnet Stock Performance

GOLF stock opened at $65.40 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 22.71 and a beta of 0.85. Acushnet Holdings Corp. has a 1 year low of $49.42 and a 1 year high of $74.77. The stock’s fifty day moving average is $66.53 and its two-hundred day moving average is $64.97.

Acushnet (NYSE:GOLF) last posted its earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). The company had revenue of $683.90 million during the quarter, compared to the consensus estimate of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. On average, research analysts predict that Acushnet Holdings Corp. will post 3.02 EPS for the current year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, September 6th. Acushnet’s dividend payout ratio is currently 29.86%.

Analysts Set New Price Targets

A number of equities analysts have commented on GOLF shares. Compass Point decreased their price objective on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Truist Financial lifted their price objective on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $66.17.

Acushnet Profile

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.