Phillips Wealth Planners LLC Makes New $204,000 Investment in Acushnet Holdings Corp. (NYSE:GOLF)

Phillips Wealth Planners LLC acquired a new stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 3,159 shares of the company’s stock, valued at approximately $204,000.

Other hedge funds have also recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in Acushnet in the 1st quarter valued at $27,000. Brown Lisle Cummings Inc. purchased a new position in shares of Acushnet during the third quarter valued at about $40,000. nVerses Capital LLC bought a new stake in shares of Acushnet in the third quarter worth about $57,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Acushnet by 1,719.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company’s stock worth $78,000 after buying an additional 1,152 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Acushnet during the second quarter valued at approximately $83,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Compass Point reduced their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Truist Financial boosted their price target on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and lowered their price objective for the company from $86.00 to $75.00 in a research report on Tuesday, September 17th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $67.43.

Insider Buying and Selling at Acushnet

In other news, Director Holdings Corp. Fila sold 1,110,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.19, for a total value of $71,250,900.00. Following the sale, the director now directly owns 31,412,966 shares in the company, valued at approximately $2,016,398,287.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 54.60% of the company’s stock.

Acushnet Stock Performance

NYSE GOLF opened at $62.00 on Friday. The company has a market cap of $3.83 billion, a P/E ratio of 21.38 and a beta of 0.85. The business’s 50 day moving average price is $63.78 and its 200-day moving average price is $64.56. Acushnet Holdings Corp. has a fifty-two week low of $51.49 and a fifty-two week high of $74.77. 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 (NYSE:GOLF) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). The firm had revenue of $683.90 million for the quarter, compared to the consensus estimate of $709.83 million. Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 EPS. Sell-side analysts predict that Acushnet Holdings Corp. will post 3.02 earnings per share for the current year.

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, September 6th. Acushnet’s payout ratio is currently 29.66%.

Acushnet 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.