Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lessened its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 0.9% during the third quarter, Holdings Channel reports. The firm owned 130,079 shares of the company’s stock after selling 1,246 shares during the period. Stifel Financial Corp’s holdings in Acushnet were worth $8,293,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. purchased a new stake in Acushnet during the 3rd quarter worth $40,000. Prospera Private Wealth LLC acquired a new stake in shares of Acushnet during the third quarter worth approximately $41,000. nVerses Capital LLC bought a new stake in shares of Acushnet in the 3rd quarter worth about $57,000. Quarry LP lifted its holdings in Acushnet by 745.6% during the 3rd quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after buying an additional 932 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Acushnet by 1,719.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company’s stock worth $78,000 after purchasing an additional 1,152 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Stock Performance

Shares of GOLF opened at $73.37 on Friday. The stock has a market capitalization of $4.46 billion, a P/E ratio of 24.96 and a beta of 0.88. Acushnet Holdings Corp. has a 12-month low of $57.74 and a 12-month high of $76.59. The firm’s 50 day moving average is $67.58 and its 200-day moving average is $66.23. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14.

Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. The business had revenue of $620.50 million during the quarter, compared to the consensus estimate of $620.40 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Acushnet’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. Equities research analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.215 per share. The ex-dividend date is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.17%. Acushnet’s dividend payout ratio is currently 29.25%.

Analysts Set New Price Targets

Several equities analysts have recently commented on GOLF shares. Truist Financial upped their price target on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Jefferies Financial Group lowered Acushnet from a “buy” rating to a “hold” rating and lowered their price target for the company from $86.00 to $75.00 in a report on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Acushnet presently has a consensus rating of “Hold” and a consensus target price of $71.40.

Insider Activity at Acushnet

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the completion of the sale, the insider now directly owns 88,710 shares in the company, valued at approximately $6,556,556.10. This trade represents a 5.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 54.60% of the stock is owned by insiders.

Acushnet Company Profile

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.