Principal Financial Group Inc. boosted its holdings in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,013,857 shares of the company's stock after acquiring an additional 63,294 shares during the period. Principal Financial Group Inc. owned 1.61% of Acushnet worth $64,632,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the business. Cannon Global Investment Management LLC raised its stake in Acushnet by 63.8% in the 3rd quarter. Cannon Global Investment Management LLC now owns 9,500 shares of the company's stock valued at $606,000 after acquiring an additional 3,700 shares during the period. Phillips Wealth Planners LLC bought a new stake in Acushnet in the 3rd quarter valued at $204,000. Farther Finance Advisors LLC lifted its holdings in shares of Acushnet by 9.7% during the third quarter. Farther Finance Advisors LLC now owns 6,078 shares of the company's stock worth $387,000 after buying an additional 535 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Acushnet by 8.2% during the third quarter. US Bancorp DE now owns 9,897 shares of the company's stock worth $631,000 after buying an additional 753 shares in the last quarter. Finally, Semanteon Capital Management LP acquired a new stake in shares of Acushnet during the third quarter worth $598,000. Institutional investors own 53.12% of the company's stock.
Shares of NYSE GOLF opened at $72.53 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28. Acushnet Holdings Corp. has a 52 week low of $53.68 and a 52 week high of $76.38. The stock has a market capitalization of $4.48 billion, a P/E ratio of 24.67 and a beta of 0.85. The stock's fifty day moving average is $63.73 and its 200 day moving average is $64.70.
Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.10. Acushnet had a return on equity of 21.17% and a net margin of 7.91%. The company had revenue of $620.50 million for the quarter, compared to analysts' expectations of $620.40 million. During the same quarter last year, the business earned $0.85 earnings per share. Acushnet's revenue was up 4.6% on a year-over-year basis. Sell-side analysts forecast that Acushnet Holdings Corp. will post 3.02 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, December 6th. Acushnet's dividend payout ratio is presently 29.25%.
A number of research firms have recently weighed in on GOLF. Truist Financial lifted their target price on Acushnet from $65.00 to $68.00 and gave the stock a "hold" rating in a report on Friday. Jefferies Financial Group downgraded Acushnet from a "buy" rating to a "hold" rating and dropped their target price for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Finally, Compass Point decreased their price target on Acushnet from $78.00 to $76.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $71.40.
Get Our Latest Stock Analysis on GOLF
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Acushnet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Acushnet wasn't on the list.
While Acushnet currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.