Neumeier Poma Investment Counsel LLC purchased a new position in Acushnet (NYSE:GOLF – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 382,099 shares of the company’s stock, valued at approximately $45,290,194,000. Acushnet makes up about 3.1% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its 12th biggest holding. Neumeier Poma Investment Counsel LLC owned 0.65% of Acushnet as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Acushnet during the second quarter valued at approximately $496,463,000. Capital Research Global Investors boosted its stake in shares of Acushnet by 8.5% during the 4th quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock valued at $116,936,000 after buying an additional 115,000 shares during the period. Morgan Stanley boosted its stake in shares of Acushnet by 22.3% during the 4th quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock valued at $110,091,000 after buying an additional 251,889 shares during the period. Raymond James Financial Inc. grew its holdings in shares of Acushnet by 0.4% during the 2nd quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock valued at $69,358,000 after acquiring an additional 4,243 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Acushnet by 31.8% during the 2nd quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock valued at $33,312,000 after acquiring an additional 110,245 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.
Acushnet Price Performance
Shares of NYSE:GOLF opened at $89.03 on Monday. The stock has a market capitalization of $5.20 billion, a P/E ratio of 24.26 and a beta of 0.81. The business has a 50-day moving average of $104.68 and a two-hundred day moving average of $98.27. Acushnet has a fifty-two week low of $73.09 and a fifty-two week high of $119.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48.
Acushnet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a $0.255 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. Acushnet’s dividend payout ratio (DPR) is currently 27.79%.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on GOLF shares. Weiss Ratings upgraded Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded Acushnet from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Truist Financial upped their target price on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, May 19th. Roth Capital reaffirmed a “neutral” rating and set a $95.00 price target on shares of Acushnet in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $99.17.
Read Our Latest Report on GOLF
Insiders Place Their Bets
In other news, insider Steven Francis Pelisek sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $91.26, for a total value of $1,368,900.00. Following the completion of the sale, the insider directly owned 70,512 shares in the company, valued at approximately $6,434,925.12. The trade was a 17.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas N. Mohamed sold 529 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $50,255.00. Following the completion of the transaction, the insider owned 2,868 shares in the company, valued at $272,460. The trade was a 15.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 53.30% of the stock is currently owned by insiders.
Acushnet Profile
Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.
At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.
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