Jupiter Topco LLC Purchases New Holdings in Acushnet $GOLF

Jupiter Topco LLC acquired a new stake in shares of Acushnet (NYSE:GOLF) in the second quarter, Holdings Channel reports. The firm acquired 10,756 shares of the company’s stock, valued at approximately $1,274,000.

A number of other institutional investors have also recently made changes to their positions in GOLF. BlackRock Inc. bought a new position in Acushnet during the 2nd quarter valued at about $496,463,000. Capital Research Global Investors increased its position in Acushnet by 8.5% during the fourth quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock valued at $116,936,000 after acquiring an additional 115,000 shares during the last quarter. Morgan Stanley lifted its holdings in Acushnet by 22.3% in the fourth quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock valued at $110,091,000 after acquiring an additional 251,889 shares during the period. Raymond James Financial Inc. lifted its holdings in Acushnet by 0.4% in the second quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock valued at $69,358,000 after acquiring an additional 4,243 shares during the period. Finally, Bank of America Corp DE boosted its position in Acushnet by 31.8% in the second quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock worth $33,312,000 after purchasing an additional 110,245 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analysts Set New Price Targets

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

Acushnet Trading Up 0.1%

Shares of GOLF opened at $86.71 on Friday. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 23.63 and a beta of 0.80. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.55 and a quick ratio of 1.48. Acushnet has a 1-year low of $73.09 and a 1-year high of $119.65. The company has a 50-day moving average of $100.70 and a 200 day moving average of $97.31.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, August 6th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the company posted $1.25 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts expect that Acushnet will post 4.02 EPS for the current year.

Acushnet Announces Dividend

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

Insiders Place Their Bets

In other news, insider Nicholas N. Mohamed sold 529 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the sale, the insider owned 2,868 shares in the company, valued at approximately $272,460. The trade was a 15.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 53.30% of the stock is currently owned by company insiders.

Acushnet Company 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.