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American Century Companies Inc. Acquires 25,485 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Defense World ·  Sep 5, 2022 04:51

American Century Companies Inc. increased its holdings in Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) by 30.0% in the 1st quarter, Holdings Channel reports. The fund owned 110,539 shares of the company's stock after buying an additional 25,485 shares during the quarter. American Century Companies Inc.'s holdings in Acushnet were worth $4,450,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GOLF. Envestnet Asset Management Inc. increased its stake in shares of Acushnet by 22.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 59,251 shares of the company's stock worth $3,145,000 after acquiring an additional 10,701 shares in the last quarter. ProShare Advisors LLC grew its position in Acushnet by 70.4% during the 4th quarter. ProShare Advisors LLC now owns 7,489 shares of the company's stock valued at $398,000 after purchasing an additional 3,095 shares during the last quarter. Bank of America Corp DE grew its position in Acushnet by 4.2% during the 4th quarter. Bank of America Corp DE now owns 171,157 shares of the company's stock valued at $9,084,000 after purchasing an additional 6,940 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Acushnet by 14.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,398 shares of the company's stock valued at $127,000 after purchasing an additional 309 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Acushnet by 9.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 24,412 shares of the company's stock valued at $1,296,000 after purchasing an additional 2,188 shares during the last quarter. 49.33% of the stock is currently owned by institutional investors.

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Acushnet Stock Performance

Shares of NYSE GOLF opened at $47.65 on Monday. The firm's 50-day moving average price is $47.30 and its 200-day moving average price is $43.70. The company has a quick ratio of 1.10, a current ratio of 1.95 and a debt-to-equity ratio of 0.26. The company has a market cap of $3.39 billion, a PE ratio of 21.96 and a beta of 0.77. Acushnet Holdings Corp. has a 52-week low of $37.46 and a 52-week high of $57.87.

Acushnet (NYSE:GOLF – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.19. The firm had revenue of $658.60 million for the quarter, compared to the consensus estimate of $581.89 million. Acushnet had a net margin of 7.36% and a return on equity of 14.53%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 EPS. As a group, analysts anticipate that Acushnet Holdings Corp. will post 2.79 EPS for the current year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, September 1st. Acushnet's payout ratio is 33.18%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GOLF shares. Truist Financial increased their price objective on shares of Acushnet from $44.00 to $50.00 and gave the company a "hold" rating in a research report on Friday, August 5th. StockNews.com downgraded shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Wednesday, August 31st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $53.80.

About Acushnet

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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.

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