Victory Capital Management Inc. Boosts Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

Victory Capital Management Inc. raised its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 8.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,072,692 shares of the company’s stock after purchasing an additional 81,065 shares during the quarter. Victory Capital Management Inc. owned 1.74% of Acushnet worth $68,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Sei Investments Co. lifted its stake in Acushnet by 29.0% in the first quarter. Sei Investments Co. now owns 96,624 shares of the company’s stock valued at $6,372,000 after purchasing an additional 21,730 shares during the last quarter. Vanguard Group Inc. lifted its position 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 valued at $198,530,000 after buying an additional 15,088 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Acushnet by 95.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 36,994 shares of the company’s stock worth $2,440,000 after acquiring an additional 18,064 shares during the period. Janus Henderson Group PLC grew its stake in shares of Acushnet by 126.4% during the 1st quarter. Janus Henderson Group PLC now owns 36,470 shares of the company’s stock worth $2,405,000 after acquiring an additional 20,360 shares during the period. Finally, Raymond James & Associates increased its holdings in Acushnet by 0.9% in the 3rd quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock worth $29,714,000 after acquiring an additional 4,300 shares during the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Price Performance

GOLF stock opened at $68.32 on Friday. The firm has a 50 day simple moving average of $63.94 and a two-hundred day simple moving average of $64.87. The stock has a market cap of $4.15 billion, a PE ratio of 23.11 and a beta of 0.85. 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 current ratio of 2.10 and a quick ratio of 1.14.

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

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, December 6th. Acushnet’s dividend payout ratio is presently 29.25%.

Analyst Ratings Changes

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