London Co. of Virginia Trims Stake in Acushnet $GOLF

London Co. of Virginia cut its stake in Acushnet (NYSE:GOLF) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 407,979 shares of the company’s stock after selling 14,908 shares during the quarter. London Co. of Virginia owned approximately 0.70% of Acushnet worth $38,138,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GOLF. Millstone Evans Group LLC grew its stake in shares of Acushnet by 170.2% during the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock worth $26,000 after purchasing an additional 177 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of Acushnet by 389.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after purchasing an additional 261 shares during the period. Kelleher Financial Advisors purchased a new stake in Acushnet during the third quarter worth $28,000. EverSource Wealth Advisors LLC grew its position in Acushnet by 149.7% during the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after buying an additional 295 shares during the period. Finally, Allworth Financial LP increased its holdings in Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after buying an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Stock Performance

GOLF opened at $104.46 on Friday. Acushnet has a twelve month low of $73.09 and a twelve month high of $119.65. The firm has a market capitalization of $6.12 billion, a PE ratio of 36.78 and a beta of 0.80. The company has a current ratio of 2.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.36. The firm’s 50-day moving average price is $102.71 and its 200 day moving average price is $97.68.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The business had revenue of $752.98 million during the quarter, compared to analyst estimates of $722.48 million. During the same quarter in the previous year, the company posted $1.62 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts expect that Acushnet will post 3.75 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, June 5th. Acushnet’s dividend payout ratio (DPR) is currently 35.92%.

Analysts Set New Price Targets

A number of research analysts have weighed in on GOLF shares. JPMorgan Chase & Co. upped their price objective on shares of Acushnet from $96.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Weiss Ratings upgraded Acushnet from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Truist Financial upped their price target on Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a report on Tuesday, May 19th. Finally, Roth Capital set a $87.00 price target on Acushnet in a research report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $97.83.

Insider Activity at Acushnet

In related news, insider Nicholas N. Mohamed sold 529 shares of Acushnet stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $50,255.00. Following the transaction, the insider owned 2,868 shares in the company, valued at approximately $272,460. This trade represents a 15.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven Francis Pelisek sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total value of $1,368,900.00. Following the transaction, the insider directly owned 70,512 shares in the company, valued at $6,434,925.12. This trade represents a 17.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 53.30% of the stock is currently owned by company insiders.

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.