Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lowered its position in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,215 shares of the company’s stock after selling 219 shares during the period. Moran Wealth Management LLC’s holdings in Acushnet were worth $842,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GOLF. New Covenant Trust Company N.A. acquired a new stake in shares of Acushnet during the 1st quarter worth about $27,000. Brown Lisle Cummings Inc. acquired a new position in Acushnet in the third quarter valued at approximately $40,000. Prospera Private Wealth LLC purchased a new position in Acushnet in the third quarter valued at approximately $41,000. nVerses Capital LLC acquired a new stake in Acushnet during the third quarter worth approximately $57,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Acushnet by 1,719.4% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Trading Up 3.5 %

NYSE GOLF opened at $71.51 on Friday. The firm’s fifty day moving average is $64.36 and its two-hundred day moving average is $65.12. Acushnet Holdings Corp. has a one year low of $55.74 and a one year high of $76.38. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The firm has a market cap of $4.35 billion, a PE ratio of 24.32 and a beta of 0.85.

Acushnet (NYSE:GOLF) last released its earnings results on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $620.50 million for the quarter, compared to analyst estimates of $620.40 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, December 6th. Acushnet’s dividend payout ratio (DPR) is presently 29.25%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Compass Point dropped their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Truist Financial raised their price objective on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and reduced their target price for the company from $86.00 to $75.00 in a report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $71.40.

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.