Parkside Financial Bank & Trust Acquires 12,252 Shares of Acushnet $GOLF

Parkside Financial Bank & Trust increased its holdings in Acushnet (NYSE:GOLF) by 61,260.0% during the second quarter, Holdings Channel.com reports. The firm owned 12,272 shares of the company’s stock after acquiring an additional 12,252 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Acushnet were worth $894,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GOLF. Vanguard Group Inc. grew its stake in shares of Acushnet by 9.6% during the first quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company’s stock valued at $212,205,000 after buying an additional 269,742 shares during the last quarter. Nuveen LLC purchased a new stake in Acushnet during the 1st quarter valued at about $9,376,000. Edgestream Partners L.P. bought a new position in Acushnet during the 1st quarter worth approximately $6,020,000. Public Sector Pension Investment Board purchased a new position in Acushnet in the 1st quarter worth approximately $5,958,000. Finally, Callan Family Office LLC increased its stake in Acushnet by 1,313.0% in the 2nd quarter. Callan Family Office LLC now owns 92,267 shares of the company’s stock worth $6,719,000 after purchasing an additional 85,737 shares during the period. 53.12% of the stock is owned by institutional investors.

Insider Transactions at Acushnet

In other Acushnet news, insider Mary Louise Bohn sold 13,190 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $78.85, for a total value of $1,040,031.50. Following the completion of the sale, the insider directly owned 191,786 shares in the company, valued at $15,122,326.10. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 53.60% of the stock is currently owned by insiders.

Acushnet Stock Performance

Shares of GOLF stock opened at $79.75 on Friday. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 21.79 and a beta of 0.90. The stock has a fifty day moving average of $77.88 and a 200 day moving average of $75.21. Acushnet has a 52 week low of $55.31 and a 52 week high of $84.40. The company has a quick ratio of 1.21, a current ratio of 2.42 and a debt-to-equity ratio of 1.03.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The company had revenue of $657.66 million for the quarter, compared to analysts’ expectations of $632.76 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Acushnet has set its FY 2025 guidance at EPS. As a group, research analysts expect that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a dividend of $0.235 per share. The ex-dividend date is Friday, December 5th. This represents a $0.94 annualized dividend and a dividend yield of 1.2%. Acushnet’s payout ratio is currently 25.68%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOLF shares. Morgan Stanley increased their price objective on Acushnet from $63.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Roth Capital reiterated a “neutral” rating and set a $80.00 price target on shares of Acushnet in a report on Thursday. Zacks Research cut shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. KeyCorp raised their price target on shares of Acushnet from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Truist Financial upped their price objective on shares of Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $76.50.

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.