Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) announced a quarterly dividend on Thursday, August 4th, Zacks reports. Shareholders of record on Friday, September 2nd will be given a dividend of 0.18 per share on Friday, September 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, September 1st.
Acushnet has a dividend payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Acushnet to earn $2.90 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 24.8%.
Acushnet Stock Performance
NYSE GOLF traded down $0.22 during trading on Friday, reaching $50.11. The company’s stock had a trading volume of 238,568 shares, compared to its average volume of 288,440. The company has a current ratio of 1.97, a quick ratio of 1.13 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 23.09 and a beta of 0.77. Acushnet has a 12 month low of $37.46 and a 12 month high of $57.87. The firm has a 50 day moving average price of $43.85 and a 200 day moving average price of $43.12.
Hedge Funds Weigh In On Acushnet
Several institutional investors and hedge funds have recently added to or reduced their stakes in GOLF. First Trust Advisors LP boosted its stake in Acushnet by 53.9% during the first quarter. First Trust Advisors LP now owns 354,722 shares of the company’s stock worth $14,281,000 after acquiring an additional 124,282 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Acushnet by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,530,671 shares of the company’s stock worth $61,630,000 after buying an additional 64,464 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Acushnet in the first quarter valued at about $1,898,000. Invesco Ltd. raised its holdings in shares of Acushnet by 8.6% in the first quarter. Invesco Ltd. now owns 492,422 shares of the company’s stock valued at $19,825,000 after purchasing an additional 39,009 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Acushnet by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,126,762 shares of the company’s stock valued at $125,883,000 after purchasing an additional 24,312 shares during the last quarter. 49.45% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
GOLF has been the subject of several analyst reports. Truist Financial boosted their target price on shares of Acushnet from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Friday. StockNews.com cut shares of Acushnet from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Finally, Morgan Stanley lowered their price objective on shares of Acushnet from $56.00 to $48.00 and set an “equal weight” rating for the company in a research report on Monday, April 25th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $53.80.
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.
- Get a free copy of the StockNews.com research report on Acushnet (GOLF)
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