Quest Partners LLC Has $754,000 Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Quest Partners LLC grew its stake in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 258.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,825 shares of the company's stock after buying an additional 8,529 shares during the period. Quest Partners LLC's holdings in Acushnet were worth $754,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GOLF. New Covenant Trust Company N.A. acquired a new position in shares of Acushnet during the 1st quarter worth about $27,000. Brown Lisle Cummings Inc. acquired a new position in shares of Acushnet during the 3rd quarter worth about $40,000. nVerses Capital LLC acquired a new position in shares of Acushnet during the 3rd quarter worth about $57,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Acushnet by 1,719.4% during the 3rd 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 last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Acushnet during the 2nd quarter worth about $83,000. Institutional investors and hedge funds own 53.12% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOLF. Truist Financial boosted their price target on Acushnet from $65.00 to $68.00 and gave the company a "hold" rating in a research note on Friday, November 8th. Compass Point lowered their price target on Acushnet from $78.00 to $76.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Finally, 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 research note on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $71.40.

Acushnet Trading Up 0.8 %

Shares of GOLF stock traded up $0.54 during trading hours on Friday, reaching $71.93. The company had a trading volume of 160,017 shares, compared to its average volume of 311,678. The company has a 50 day moving average of $64.51 and a 200 day moving average of $65.17. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 24.38 and a beta of 0.85. Acushnet Holdings Corp. has a 1-year low of $55.74 and a 1-year high of $76.38.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. The business had revenue of $620.50 million for 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%. The firm's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. On average, equities research analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, December 6th. Acushnet's dividend payout ratio (DPR) is presently 29.25%.

Acushnet 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.