Landscape Capital Management L.L.C. Makes New $1.06 Million Investment in Acushnet Holdings Corp. (NYSE:GOLF)

Landscape Capital Management L.L.C. purchased a new stake in Acushnet Holdings Corp. (NYSE:GOLF) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 16,542 shares of the company’s stock, valued at approximately $1,055,000.

Other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Acushnet in the first quarter valued at about $220,000. US Bancorp DE lifted its position in shares of Acushnet by 7.9% during the 1st quarter. US Bancorp DE now owns 5,363 shares of the company’s stock valued at $354,000 after acquiring an additional 393 shares during the period. ProShare Advisors LLC lifted its position in shares of Acushnet by 6.6% during the 1st quarter. ProShare Advisors LLC now owns 5,447 shares of the company’s stock valued at $359,000 after acquiring an additional 339 shares during the period. Vanguard Group Inc. boosted its stake in shares of Acushnet by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock worth $198,530,000 after acquiring an additional 15,088 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Acushnet by 7.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,898 shares of the company’s stock worth $257,000 after acquiring an additional 269 shares during the period. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Stock Performance

NYSE GOLF opened at $71.93 on Friday. 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 Holdings Corp. has a fifty-two week low of $55.74 and a fifty-two week high of $76.38. The business has a fifty day moving average of $64.51 and a 200-day moving average of $65.17. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 24.47 and a beta of 0.85.

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

Acushnet Announces Dividend

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

Wall Street Analyst Weigh In

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

Acushnet Company Profile

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.