State of Wyoming Makes New $1.75 Million Investment in Acushnet $GOLF

State of Wyoming purchased a new stake in shares of Acushnet (NYSE:GOLF) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 14,740 shares of the company’s stock, valued at approximately $1,747,000.

Other hedge funds also recently bought and sold shares of the company. Capital Research Global Investors lifted its position in shares of Acushnet by 8.5% during the 4th quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock worth $116,936,000 after purchasing an additional 115,000 shares during the last quarter. Morgan Stanley increased its position in Acushnet by 22.3% in the 4th quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock worth $110,091,000 after buying an additional 251,889 shares during the period. Raymond James Financial Inc. increased its position in Acushnet by 0.4% in the 2nd quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock worth $69,358,000 after buying an additional 4,243 shares during the period. Bank of America Corp DE lifted its holdings in shares of Acushnet by 31.8% during the second quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock worth $33,312,000 after buying an additional 110,245 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC lifted its holdings in shares of Acushnet by 51.7% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 384,424 shares of the company’s stock worth $30,685,000 after buying an additional 130,990 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price objective on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of Acushnet from a “hold” rating to a “buy” rating in a research note on Saturday. Roth Capital reissued a “neutral” rating and issued a $95.00 price target on shares of Acushnet in a report on Friday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Finally, Weiss Ratings upgraded shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $99.17.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 15,000 shares of Acushnet stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the sale, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicholas N. Mohamed sold 529 shares of Acushnet stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $50,255.00. Following the sale, the insider owned 2,868 shares in the company, valued at $272,460. This represents a 15.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 53.30% of the stock is owned by company insiders.

Acushnet Trading Down 0.2%

Acushnet stock opened at $89.76 on Friday. The business has a 50 day moving average price of $105.26 and a two-hundred day moving average price of $98.47. The company has a quick ratio of 1.48, a current ratio of 2.55 and a debt-to-equity ratio of 1.01. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 24.46 and a beta of 0.81. Acushnet has a 12 month low of $73.09 and a 12 month high of $119.65.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, August 6th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.45. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The company had revenue of $819.95 million during the quarter, compared to the consensus estimate of $788.24 million. During the same quarter last year, the company earned $1.25 EPS. The company’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities analysts forecast that Acushnet will post 3.99 EPS for the current year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 4th. Acushnet’s dividend payout ratio (DPR) is 27.79%.

Acushnet Company 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.