Callan Family Office LLC Grows Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Callan Family Office LLC increased its position in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 630.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 23,696 shares of the company’s stock after acquiring an additional 20,452 shares during the period. Callan Family Office LLC’s holdings in Acushnet were worth $1,684,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GOLF. Principal Financial Group Inc. raised its stake in shares of Acushnet by 6.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock worth $64,632,000 after buying an additional 63,294 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Acushnet during the third quarter worth about $1,443,000. FMR LLC lifted its holdings in shares of Acushnet by 2.5% in the third quarter. FMR LLC now owns 441,069 shares of the company’s stock valued at $28,118,000 after purchasing an additional 10,762 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Acushnet in the third quarter valued at about $508,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Acushnet in the third quarter valued at approximately $654,000. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GOLF. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Truist Financial boosted their price target on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. StockNews.com lowered Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday. KeyCorp cut their target price on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and upped their target price for the company from $77.00 to $80.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $72.80.

Acushnet Price Performance

GOLF stock opened at $68.40 on Friday. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 23.27 and a beta of 0.79. The stock’s fifty day simple moving average is $68.51 and its 200-day simple moving average is $67.59. Acushnet Holdings Corp. has a 52-week low of $58.54 and a 52-week high of $76.65. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $445.17 billion during the quarter, compared to analysts’ expectations of $454.83 million. Equities research analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a dividend of $0.235 per share. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.94 annualized dividend and a yield of 1.37%. Acushnet’s dividend payout ratio is 28.23%.

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.