Acushnet Holdings Corp. (NYSE:GOLF) Stock Holdings Lifted by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lifted its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,433 shares of the company’s stock after acquiring an additional 413 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Acushnet were worth $1,175,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. increased its stake in Acushnet by 871.1% in the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after purchasing an additional 889,515 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Acushnet in the third quarter worth approximately $7,986,000. Thornburg Investment Management Inc. acquired a new stake in shares of Acushnet during the second quarter valued at approximately $7,794,000. Point72 Asset Management L.P. lifted its position in shares of Acushnet by 2,217.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 74,166 shares of the company’s stock valued at $4,708,000 after acquiring an additional 70,966 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Acushnet by 6.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock worth $64,632,000 after purchasing an additional 63,294 shares during the period. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $68.43 on Tuesday. The business has a fifty day simple moving average of $64.05 and a 200 day simple moving average of $65.00. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a 1 year low of $55.74 and a 1 year high of $76.38. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 23.27 and a beta of 0.85.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $620.50 million during the quarter, compared to analyst estimates of $620.40 million. During the same period in the previous year, the company earned $0.85 EPS. The firm’s revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.215 per share. The ex-dividend date is Friday, December 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.26%. Acushnet’s dividend payout ratio (DPR) is 29.25%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial increased their target price on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a report on Friday, November 8th. Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Finally, Compass Point lowered their target price on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Acushnet has a consensus rating of “Hold” and a consensus target price of $71.40.

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.