Key Points
- Insider sale: Steven Francis Pelisek sold 20,000 shares of Acushnet (NYSE:GOLF) on Nov. 25 at an average price of $84.66 for a total of $1,693,200, cutting his ownership by 20.83% to 76,006 shares (≈$6.43M).
- Dividend announced: Acushnet declared a quarterly dividend of $0.235 per share (annualized $0.94, yield ~1.1%), payable Dec. 19 to stockholders of record on Dec. 5 (ex-dividend date Dec. 5).
- Quarterly results: Acushnet reported Q earnings of $0.81 EPS (missing estimates by $0.04) while revenue of $657.66M beat forecasts and rose 6% year-over-year; consensus analyst rating is "Hold" with a $76.50 target.
Acushnet (NYSE:GOLF - Get Free Report) insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the completion of the sale, the insider owned 76,006 shares of the company's stock, valued at $6,434,667.96. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Acushnet Stock Performance
Shares of GOLF opened at $84.70 on Thursday. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 23.14 and a beta of 0.90. The company's fifty day moving average is $79.22 and its 200-day moving average is $76.58. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03. Acushnet has a 12 month low of $55.31 and a 12 month high of $85.95.
Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). The business had revenue of $657.66 million during the quarter, compared to analyst estimates of $632.76 million. Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. Acushnet has set its FY 2025 guidance at EPS. Equities analysts expect that Acushnet will post 3.06 EPS for the current fiscal year.
Acushnet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.1%. Acushnet's dividend payout ratio is currently 25.68%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC increased its holdings in Acushnet by 238.0% in the 3rd quarter. Fisher Asset Management LLC now owns 704,151 shares of the company's stock valued at $55,269,000 after buying an additional 495,794 shares during the period. Norges Bank acquired a new position in Acushnet in the second quarter worth about $20,963,000. Vanguard Group Inc. raised its position in Acushnet by 9.6% in the first quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company's stock worth $212,205,000 after purchasing an additional 269,742 shares in the last quarter. Tributary Capital Management LLC boosted its holdings in Acushnet by 92.6% during the third quarter. Tributary Capital Management LLC now owns 457,490 shares of the company's stock valued at $35,908,000 after purchasing an additional 219,895 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Acushnet during the first quarter valued at approximately $9,376,000. 53.12% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. Truist Financial boosted their target price on Acushnet from $65.00 to $74.00 and gave the stock a "hold" rating in a report on Tuesday, November 4th. Zacks Research downgraded shares of Acushnet from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Roth Capital reiterated a "neutral" rating and issued a $80.00 target price on shares of Acushnet in a research note on Thursday, November 6th. KeyCorp boosted their target price on shares of Acushnet from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Acushnet in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Acushnet presently has a consensus rating of "Hold" and a consensus target price of $76.50.
Get Our Latest Analysis on GOLF
Acushnet Company Profile
(
Get Free Report)
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.
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