Victory Capital Management Inc. Purchases 81,065 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Victory Capital Management Inc. increased its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,072,692 shares of the company's stock after acquiring an additional 81,065 shares during the quarter. Victory Capital Management Inc. owned about 1.74% of Acushnet worth $68,384,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOLF. New Covenant Trust Company N.A. purchased a new stake in shares of Acushnet in the first quarter valued at about $27,000. Brown Lisle Cummings Inc. acquired a new position in shares of Acushnet in the third quarter valued at approximately $40,000. nVerses Capital LLC acquired a new position in shares of Acushnet in the third quarter valued at approximately $57,000. Whittier Trust Co. of Nevada Inc. increased its position in 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 last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Acushnet during the second quarter worth approximately $83,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GOLF shares. Truist Financial upped their target price on shares of Acushnet from $65.00 to $68.00 and gave the company a "hold" rating in a research note on Friday, November 8th. Compass Point reduced their price objective on shares of 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 downgraded shares of Acushnet from a "buy" rating to a "hold" rating and reduced their price objective for the company from $86.00 to $75.00 in a research note 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's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $71.40.

Acushnet Trading Up 0.9 %

Acushnet stock traded up $0.62 during mid-day trading on Friday, hitting $68.88. 69,903 shares of the company's stock were exchanged, compared to its average volume of 313,065. The company's 50 day simple moving average is $63.94 and its 200-day simple moving average is $64.87. The firm has a market capitalization of $4.19 billion, a P/E ratio of 23.24 and a beta of 0.85. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a fifty-two week low of $55.74 and a fifty-two week high of $76.38.

Acushnet (NYSE:GOLF - Get Free Report) last posted 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 21.45% and a net margin of 7.78%. The business had revenue of $620.50 million during the quarter, compared to analysts' expectations of $620.40 million. During the same quarter last year, the company posted $0.85 earnings per share. Acushnet's quarterly revenue was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.215 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.25%. Acushnet's dividend payout ratio is 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.