Key Points
- Director Gregory Hewett sold 4,206 shares at an average of $100 for a total of $420,600, cutting his stake by 10.2% to 37,017 shares (worth about $3.7M).
- Acushnet's Q results (Feb. 26) showed EPS of ($0.58) which missed estimates of ($0.27), while revenue of $477.22M beat expectations and rose 7.2% year-over-year.
- The company raised its quarterly dividend to $0.255 (annualized $1.02, ~1.1% yield); the ex-dividend date is March 6 and the payment date is March 20.
Acushnet (NYSE:GOLF - Get Free Report) Director Gregory Hewett sold 4,206 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was 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 in the company, valued at $3,701,700. This represents a 10.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Acushnet Stock Performance
NYSE:GOLF opened at $95.67 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.30 and a current ratio of 2.38. The firm's 50-day moving average is $94.64 and its 200-day moving average is $84.84. Acushnet has a 52-week low of $55.31 and a 52-week high of $104.81. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 30.86 and a beta of 0.88.
Acushnet (NYSE:GOLF - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($0.58) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.31). Acushnet had a return on equity of 25.49% and a net margin of 7.37%.The firm had revenue of $477.22 million for the quarter, compared to analyst estimates of $453.59 million. During the same period last year, the business earned ($0.02) earnings per share. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Acushnet will post 3.06 earnings per share for the current year.
Acushnet Increases Dividend
The company also recently disclosed 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. This represents a $1.02 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, March 6th. This is a boost from Acushnet's previous quarterly dividend of $0.24. Acushnet's payout ratio is 30.32%.
Institutional Investors Weigh In On Acushnet
Hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. lifted its holdings in Acushnet by 389.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company's stock valued at $26,000 after purchasing an additional 261 shares during the last quarter. Kelleher Financial Advisors acquired a new stake in shares of Acushnet during the third quarter worth approximately $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company's stock worth $36,000 after acquiring an additional 295 shares in the last quarter. Allworth Financial LP grew its position in Acushnet by 57.3% during the 3rd quarter. Allworth Financial LP now owns 505 shares of the company's stock worth $40,000 after acquiring an additional 184 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Acushnet by 83.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 540 shares of the company's stock worth $39,000 after acquiring an additional 246 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company's stock.
Analyst Ratings Changes
Several brokerages recently commented on GOLF. Zacks Research cut Acushnet from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 17th. Morgan Stanley lifted their target price on shares of Acushnet from $90.00 to $95.00 and gave the company an "equal weight" rating in a research report on Thursday, January 22nd. Jefferies Financial Group reissued a "hold" rating on shares of Acushnet in a research report on Thursday, February 26th. Truist Financial lifted their price objective on Acushnet from $74.00 to $95.00 and gave the company a "hold" rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. upgraded Acushnet from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $74.00 to $96.00 in a research note on Friday, January 23rd. Nine equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $89.57.
View Our Latest Analysis on GOLF
Acushnet Company Profile
(
Get Free Report)
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.
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