Holdings Corp. Fila Sells 587,520 Shares of Acushnet Holdings Corp. (NYSE:GOLF) Stock

Acushnet Holdings Corp. (NYSE:GOLF) Director Holdings Corp. Fila sold 587,520 shares of Acushnet stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total value of $37,501,401.60. Following the sale, the director now directly owns 32,522,966 shares of the company’s stock, valued at approximately $2,075,940,919.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Acushnet Trading Up 3.0 %

Shares of GOLF stock traded up $1.85 during trading hours on Thursday, reaching $62.76. The company had a trading volume of 266,352 shares, compared to its average volume of 316,873. The company has a 50 day moving average of $63.83 and a 200 day moving average of $64.09. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 21.56 and a beta of 0.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.69 and a quick ratio of 1.46. Acushnet Holdings Corp. has a 1-year low of $49.42 and a 1-year high of $70.10.

Acushnet (NYSE:GOLF) last issued its earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.19. The firm had revenue of $707.55 million for the quarter, compared to analysts’ expectations of $692.41 million. Acushnet had a return on equity of 20.65% and a net margin of 8.03%. On average, equities research analysts anticipate that Acushnet Holdings Corp. will post 3.12 EPS for the current year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a $0.215 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.86 annualized dividend and a yield of 1.37%. Acushnet’s dividend payout ratio (DPR) is presently 29.86%.

Hedge Funds Weigh In On Acushnet

Several institutional investors and hedge funds have recently made changes to their positions in the company. HM Payson & Co. boosted its stake in Acushnet by 25.2% in the 1st quarter. HM Payson & Co. now owns 3,562 shares of the company’s stock worth $235,000 after purchasing an additional 718 shares during the period. Virtu Financial LLC bought a new stake in Acushnet in the 1st quarter valued at approximately $424,000. New Covenant Trust Company N.A. acquired a new position in Acushnet during the 1st quarter worth approximately $27,000. Comerica Bank raised its holdings in shares of Acushnet by 3.7% in the first quarter. Comerica Bank now owns 25,529 shares of the company’s stock valued at $1,684,000 after purchasing an additional 910 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its position in Acushnet by 2.3% in the first quarter. SkyView Investment Advisors LLC now owns 20,209 shares of the company’s stock valued at $1,333,000 after purchasing an additional 464 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GOLF. Truist Financial raised their target price on shares of Acushnet from $62.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. upped their target price on shares of Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $66.38.

Acushnet Company Profile

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.