Acushnet Holdings Corp. (NYSE:GOLF) Shares Bought by Callan Family Office LLC

Callan Family Office LLC lifted its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 630.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,696 shares of the company’s stock after buying an additional 20,452 shares during the quarter. Callan Family Office LLC’s holdings in Acushnet were worth $1,684,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. grew its stake in Acushnet by 100.6% during the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after buying an additional 176 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Acushnet in the third quarter valued at approximately $41,000. Quarry LP grew its position in shares of Acushnet by 745.6% during the third quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after acquiring an additional 932 shares during the last quarter. Berry Wealth Group LP acquired a new position in shares of Acushnet in the 4th quarter valued at $202,000. Finally, Heritage Family Offices LLP purchased a new stake in Acushnet in the 4th quarter valued at $205,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Price Performance

Shares of NYSE:GOLF opened at $68.40 on Friday. Acushnet Holdings Corp. has a 52 week low of $58.54 and a 52 week high of $76.65. The company has a 50-day moving average price of $68.51 and a 200 day moving average price of $67.59. The company has a market cap of $4.10 billion, a P/E ratio of 23.27 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $445.17 billion during the quarter, compared to analysts’ expectations of $454.83 million. Research analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.235 per share. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, March 7th. Acushnet’s payout ratio is presently 28.23%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. KeyCorp lowered their price objective on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Compass Point upgraded Acushnet from a “neutral” rating to a “buy” rating and boosted their price target for the company from $77.00 to $80.00 in a research report on Tuesday. JPMorgan Chase & Co. downgraded Acushnet from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Truist Financial lifted their target price on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Finally, StockNews.com cut Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $72.80.

About Acushnet

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.