Acushnet Holdings Corp. (GOLF) to Issue Quarterly Dividend of $0.22 on September 20th

Acushnet Holdings Corp. (NYSE:GOLF) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Stockholders of record on Friday, September 6th will be paid a dividend of 0.215 per share on Friday, September 20th. This represents a $0.86 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, September 6th.

Acushnet has increased its dividend by an average of 8.0% per year over the last three years. Acushnet has a payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Acushnet to earn $3.44 per share next year, which means the company should continue to be able to cover its $0.86 annual dividend with an expected future payout ratio of 25.0%.

Acushnet Trading Down 1.1 %

Shares of GOLF opened at $66.26 on Wednesday. The company has a market capitalization of $4.10 billion, a PE ratio of 23.01 and a beta of 0.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28. Acushnet has a fifty-two week low of $49.42 and a fifty-two week high of $74.77. The stock has a fifty day moving average of $66.41 and a two-hundred day moving average of $64.99.

Acushnet (NYSE:GOLF) last released its earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). The company had revenue of $683.90 million during the quarter, compared to analysts’ expectations of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. Acushnet’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 earnings per share. As a group, analysts forecast that Acushnet will post 3.02 EPS for the current year.

Insider Activity

In related news, Director Holdings Corp. Fila sold 587,520 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total transaction of $37,501,401.60. Following the completion of the sale, the director now directly owns 32,522,966 shares in the company, valued at $2,075,940,919.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOLF. Compass Point reduced their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Truist Financial upped their target price on shares of Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, May 28th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $66.43.

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.