Legal & General Group Plc Purchases Shares of 67,472 Acushnet $GOLF

Legal & General Group Plc purchased a new stake in Acushnet (NYSE:GOLF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 67,472 shares of the company’s stock, valued at approximately $7,997,000.

A number of other hedge funds also recently made changes to their positions in GOLF. BlackRock Inc. acquired a new position in shares of Acushnet in the second quarter worth approximately $496,463,000. Capital Research Global Investors boosted its holdings in Acushnet by 8.5% in the fourth quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock valued at $116,936,000 after acquiring an additional 115,000 shares during the last quarter. Morgan Stanley increased its position in 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 purchasing an additional 251,889 shares during the period. Raymond James Financial Inc. increased its position in 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 purchasing an additional 4,243 shares during the period. Finally, Bank of America Corp DE raised its holdings in Acushnet by 31.8% during the 2nd quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock worth $33,312,000 after purchasing an additional 110,245 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors.

Acushnet Trading Down 0.6%

Shares of GOLF stock opened at $85.83 on Wednesday. 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 quick ratio of 1.48 and a current ratio of 2.55. The stock has a 50 day simple moving average of $102.29 and a two-hundred day simple moving average of $97.56. The company has a market cap of $5.01 billion, a P/E ratio of 23.39 and a beta of 0.81.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, August 6th. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.45. The firm had revenue of $819.95 million for the quarter, compared to analysts’ expectations of $788.24 million. Acushnet had a return on equity of 27.98% and a net margin of 8.12%.The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 EPS. Research analysts forecast that Acushnet will post 4.02 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 4th. Acushnet’s dividend payout ratio (DPR) is presently 27.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOLF. JPMorgan Chase & Co. boosted their price target on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Roth Capital reiterated a “neutral” rating and set a $95.00 price objective on shares of Acushnet in a research report on Friday, August 7th. Wall Street Zen raised shares of Acushnet from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Truist Financial boosted their target price on shares of Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings raised shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $99.17.

Insider Buying and Selling

In other Acushnet news, insider Nicholas N. Mohamed sold 529 shares of Acushnet stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the sale, the insider directly owned 2,868 shares of the company’s stock, valued at approximately $272,460. The trade was a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 53.30% of the company’s stock.

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.