Capital Research Global Investors Purchases 115,000 Shares of Acushnet $GOLF

Capital Research Global Investors increased its position in Acushnet (NYSE:GOLF) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,465,000 shares of the company’s stock after acquiring an additional 115,000 shares during the quarter. Capital Research Global Investors’ holdings in Acushnet were worth $116,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Raymond James Financial Inc. grew its holdings 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 worth $69,358,000 after acquiring an additional 4,243 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Acushnet by 238.0% in the third quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock worth $55,269,000 after acquiring an additional 495,794 shares during the period. Bank of America Corp DE grew its holdings 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 acquiring an additional 110,245 shares during the period. Neumeier Poma Investment Counsel LLC grew its holdings in shares of Acushnet by 51.7% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 384,424 shares of the company’s stock worth $30,685,000 after acquiring an additional 130,990 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Acushnet by 0.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 316,525 shares of the company’s stock worth $24,844,000 after acquiring an additional 2,956 shares during the period. Institutional investors own 53.12% of the company’s stock.

Insider Activity at Acushnet

In other news, insider Steven Francis Pelisek sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the transaction, the insider directly owned 70,512 shares in the company, valued at $6,434,925.12. The trade was a 17.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 53.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings lowered Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. Zacks Research lowered Acushnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Roth Mkm set a $87.00 price objective on Acushnet in a report on Thursday, May 7th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. Finally, UBS Group set a $100.00 price objective on Acushnet in a report on Thursday, February 26th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $94.17.

Acushnet Price Performance

NYSE GOLF opened at $90.69 on Tuesday. The company has a market capitalization of $5.31 billion, a PE ratio of 31.93 and a beta of 0.85. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.59 and a current ratio of 2.87. The business’s fifty day moving average is $92.43 and its 200 day moving average is $91.47. Acushnet has a fifty-two week low of $69.54 and a fifty-two week high of $104.81.

Acushnet (NYSE:GOLF) last released its earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.02). The company had revenue of $752.98 million for the quarter, compared to analysts’ expectations of $722.48 million. Acushnet had a net margin of 6.54% and a return on equity of 22.95%. Acushnet’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 earnings per share. Sell-side analysts predict that Acushnet will post 3.82 earnings per share for the current year.

Acushnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, June 5th. Acushnet’s payout ratio is presently 35.92%.

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.