Berry Wealth Group LP Boosts Stock Position in Acushnet (NYSE:GOLF)

Berry Wealth Group LP lifted its position in Acushnet (NYSE:GOLF) by 8.0% in the first quarter, Holdings Channel.com reports. The firm owned 3,075 shares of the company’s stock after purchasing an additional 229 shares during the quarter. Berry Wealth Group LP’s holdings in Acushnet were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOLF. Raymond James Financial Inc. purchased a new position in shares of Acushnet in the 4th quarter worth about $62,713,000. Lord Abbett & CO. LLC purchased a new position in shares of Acushnet in the 4th quarter worth about $28,641,000. Norges Bank purchased a new position in shares of Acushnet in the 4th quarter worth about $14,825,000. 12th Street Asset Management Company LLC boosted its holdings in shares of Acushnet by 170.1% in the 4th quarter. 12th Street Asset Management Company LLC now owns 120,883 shares of the company’s stock worth $8,592,000 after purchasing an additional 76,126 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Acushnet by 5.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company’s stock worth $76,654,000 after purchasing an additional 54,314 shares in the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Stock Up 1.9%

Shares of NYSE:GOLF opened at $72.59 on Tuesday. Acushnet has a 52-week low of $55.31 and a 52-week high of $76.65. The firm has a market capitalization of $4.27 billion, a P/E ratio of 20.16 and a beta of 0.84. The stock has a 50 day moving average price of $67.98 and a 200-day moving average price of $67.95. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.21 and a current ratio of 2.21.

Acushnet (NYSE:GOLF) last announced its earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.30. The firm had revenue of $703.37 million during the quarter, compared to analyst estimates of $697.82 million. Acushnet had a return on equity of 26.81% and a net margin of 9.21%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.35 EPS. As a group, equities research analysts anticipate that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a $0.235 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.94 annualized dividend and a dividend yield of 1.29%. Acushnet’s payout ratio is currently 26.11%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial upped their price objective on Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. Compass Point lowered Acushnet from a “buy” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $71.00 in a research note on Monday, May 5th. KeyCorp boosted their target price on Acushnet from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Finally, Wall Street Zen lowered Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $70.00.

Acushnet 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.