Tributary Capital Management LLC Sells 15,894 Shares of Acushnet $GOLF

Tributary Capital Management LLC decreased its position in shares of Acushnet (NYSE:GOLF) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 212,851 shares of the company’s stock after selling 15,894 shares during the quarter. Acushnet comprises 1.7% of Tributary Capital Management LLC’s holdings, making the stock its 25th largest holding. Tributary Capital Management LLC’s holdings in Acushnet were worth $16,990,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOLF. Fisher Asset Management LLC increased its holdings in shares of Acushnet by 238.0% during the third quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock valued at $55,269,000 after acquiring an additional 495,794 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Acushnet by 31.8% during the second quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock valued at $33,312,000 after buying an additional 110,245 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Acushnet by 69.4% during the third quarter. Two Sigma Investments LP now owns 199,707 shares of the company’s stock valued at $15,675,000 after buying an additional 81,789 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Acushnet by 51.3% during the second quarter. Balyasny Asset Management L.P. now owns 223,282 shares of the company’s stock valued at $16,259,000 after buying an additional 75,663 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Acushnet by 39.0% during the first quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock valued at $17,152,000 after buying an additional 70,095 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Acushnet from $90.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, January 22nd. Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a research report on Thursday, February 26th. JPMorgan Chase & Co. raised Acushnet from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $74.00 to $96.00 in a research report on Friday, January 23rd. Truist Financial lifted their target price on Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, February 9th. Finally, UBS Group set a $100.00 price objective on Acushnet in a research report on Thursday, February 26th. Nine equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Acushnet has a consensus rating of “Hold” and an average price target of $89.57.

Acushnet Stock Up 2.4%

Acushnet stock opened at $100.07 on Friday. Acushnet has a 1-year low of $58.37 and a 1-year high of $104.81. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 32.28 and a beta of 0.92. The company has a current ratio of 2.38, a quick ratio of 0.97 and a debt-to-equity ratio of 1.18. The firm has a 50 day simple moving average of $96.85 and a 200 day simple moving average of $88.74.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.31). Acushnet had a net margin of 7.37% and a return on equity of 25.49%. The business had revenue of $477.22 million during the quarter, compared to analysts’ expectations of $453.59 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were issued a dividend of $0.255 per share. This is a positive change from Acushnet’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.02 dividend on an annualized basis and a yield of 1.0%. Acushnet’s payout ratio is currently 32.90%.

Insider Transactions at Acushnet

In related news, Director Gregory A. Hewett sold 4,206 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total transaction of $420,600.00. Following the sale, the director owned 37,017 shares of the company’s stock, valued at approximately $3,701,700. This represents a 10.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 53.60% 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.