Deutsche Bank AG Acquires New Holdings in Acushnet $GOLF

Deutsche Bank AG bought a new stake in shares of Acushnet (NYSE:GOLF) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 33,174 shares of the company’s stock, valued at approximately $3,932,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOLF. Millstone Evans Group LLC raised its position 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 last quarter. Global Retirement Partners LLC acquired a new stake in Acushnet during the 2nd quarter valued at $36,000. Brown Brothers Harriman & Co. grew its holdings in Acushnet by 389.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after buying an additional 261 shares during the last quarter. Kelleher Financial Advisors purchased a new position in Acushnet during the third quarter worth $28,000. Finally, EverSource Wealth Advisors LLC increased its position in Acushnet by 149.7% during the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after buying an additional 295 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Wall Street Analysts Forecast Growth

GOLF has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on Acushnet from $96.00 to $118.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Wall Street Zen upgraded Acushnet from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Roth Capital reissued a “neutral” rating and issued a $95.00 target price on shares of Acushnet in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Acushnet from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Truist Financial raised their price target on shares of Acushnet from $95.00 to $97.00 and gave the stock a “hold” rating in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Acushnet has a consensus rating of “Hold” and an average price target of $99.17.

Acushnet Stock Down 3.7%

GOLF opened at $86.33 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 23.52 and a beta of 0.81. The business has a 50-day moving average of $104.30 and a two-hundred day moving average of $98.10. Acushnet has a 12 month low of $73.09 and a 12 month high of $119.65.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, August 6th. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.45. Acushnet had a net margin of 8.12% and a return on equity of 27.98%. The business had revenue of $819.95 million for the quarter, compared to analyst estimates of $788.24 million. During the same period in the prior year, the firm posted $1.25 EPS. The company’s revenue was up 13.8% on a year-over-year basis. On average, research analysts expect that Acushnet will post 4.02 earnings per share for the current year.

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, September 4th. Acushnet’s dividend payout ratio is presently 27.79%.

Insider Buying and Selling at Acushnet

In related news, insider Nicholas N. Mohamed sold 529 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total value of $50,255.00. Following the transaction, the insider directly owned 2,868 shares of the company’s stock, valued at approximately $272,460. This trade represents a 15.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 53.30% of the company’s stock.

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.