Callan Family Office LLC Raises Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Callan Family Office LLC lifted its position in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 630.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,696 shares of the company's stock after buying an additional 20,452 shares during the quarter. Callan Family Office LLC's holdings in Acushnet were worth $1,684,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Acushnet during the 4th quarter worth about $62,713,000. Dana Investment Advisors Inc. purchased a new stake in Acushnet during the 4th quarter worth about $863,000. Aigen Investment Management LP purchased a new stake in Acushnet during the 4th quarter worth about $722,000. M&T Bank Corp increased its holdings in Acushnet by 5.0% during the 4th quarter. M&T Bank Corp now owns 28,858 shares of the company's stock worth $2,051,000 after purchasing an additional 1,370 shares during the period. Finally, Atria Investments Inc increased its holdings in Acushnet by 35.0% during the 4th quarter. Atria Investments Inc now owns 31,890 shares of the company's stock worth $2,267,000 after purchasing an additional 8,268 shares during the period. Hedge funds and other institutional investors own 53.12% of the company's stock.

Acushnet Stock Performance

Shares of NYSE GOLF traded down $0.20 during trading hours on Friday, reaching $68.40. The stock had a trading volume of 568,021 shares, compared to its average volume of 340,576. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 23.27 and a beta of 0.79. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a fifty-two week low of $58.54 and a fifty-two week high of $76.65. The firm has a 50-day moving average of $68.51 and a 200-day moving average of $67.59.

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Acushnet (NYSE:GOLF - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.31. The firm had revenue of $445.17 billion during the quarter, compared to analysts' expectations of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Equities research analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a yield of 1.37%. Acushnet's dividend payout ratio is currently 28.23%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com cut Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday. Compass Point raised Acushnet from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $77.00 to $80.00 in a research report on Tuesday. KeyCorp lowered their price objective on Acushnet from $80.00 to $77.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. cut Acushnet from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Finally, Truist Financial upped their price objective on Acushnet from $65.00 to $68.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $72.80.

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.