London Co. of Virginia Sells 16,951 Shares of Acushnet $GOLF

London Co. of Virginia lowered its position in shares of Acushnet (NYSE:GOLF) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 440,087 shares of the company’s stock after selling 16,951 shares during the period. London Co. of Virginia owned about 0.75% of Acushnet worth $34,543,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOLF. Raymond James Financial Inc. increased its position in shares of Acushnet by 0.4% in the second quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock valued at $69,358,000 after acquiring an additional 4,243 shares during the period. Fisher Asset Management LLC raised its stake in shares of Acushnet by 238.0% during the third quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock valued at $55,269,000 after acquiring an additional 495,794 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Acushnet by 0.8% during the second quarter. Geode Capital Management LLC now owns 662,194 shares of the company’s stock worth $48,227,000 after purchasing an additional 5,009 shares during the period. Tributary Capital Management LLC grew its stake in shares of Acushnet by 92.6% in the third quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock worth $35,908,000 after purchasing an additional 219,895 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Acushnet by 31.8% in the second quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock worth $33,312,000 after purchasing an additional 110,245 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GOLF shares. Weiss Ratings downgraded Acushnet from a “buy (b)” rating to a “hold (c+)” rating in a report on Thursday, March 5th. Zacks Research lowered Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Morgan Stanley boosted their target price on Acushnet from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, January 22nd. UBS Group set a $100.00 target price on Acushnet in a report on Thursday, February 26th. Finally, Truist Financial raised their price target on Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, February 9th. Nine research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Acushnet currently has an average rating of “Hold” and a consensus price target of $89.57.

Insider Activity at Acushnet

In related news, Director Gregory A. Hewett sold 4,206 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $100.00, for a total transaction of $420,600.00. Following the completion of the sale, the director owned 37,017 shares of the company’s stock, valued at $3,701,700. This trade represents a 10.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 53.60% of the stock is currently owned by insiders.

Acushnet Price Performance

GOLF opened at $94.46 on Tuesday. The firm has a market cap of $5.53 billion, a PE ratio of 30.47 and a beta of 0.88. The stock has a 50-day moving average price of $96.16 and a 200-day moving average price of $85.61. Acushnet has a 1 year low of $55.31 and a 1 year high of $104.81. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.38 and a quick ratio of 0.97.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.31). The firm had revenue of $477.22 million for the quarter, compared to analysts’ expectations of $453.59 million. Acushnet had a net margin of 7.37% and a return on equity of 25.49%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the company posted ($0.02) earnings per share. Sell-side analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.255 per share. The ex-dividend date is Friday, March 6th. This is a positive change from Acushnet’s previous quarterly dividend of $0.24. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. Acushnet’s dividend payout ratio is currently 32.90%.

Acushnet Profile

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.