Acushnet Holdings Corp. (NYSE:GOLF) to Issue Quarterly Dividend of $0.18

Acushnet Holdings Corp. (NYSE:GOLFGet Rating) declared a quarterly dividend on Thursday, August 4th, Zacks reports. Stockholders of record on Friday, September 2nd will be paid a dividend of 0.18 per share on Friday, September 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, September 1st.

Acushnet has a dividend payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Acushnet to earn $2.90 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 24.8%.

Acushnet Trading Down 0.4 %

Shares of NYSE GOLF opened at $50.11 on Friday. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 23.09 and a beta of 0.77. Acushnet has a 12-month low of $37.46 and a 12-month high of $57.87. The company has a current ratio of 1.97, a quick ratio of 1.13 and a debt-to-equity ratio of 0.26. The stock’s 50 day simple moving average is $43.85 and its 200 day simple moving average is $43.12.

Acushnet (NYSE:GOLFGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.19. The business had revenue of $658.60 million for the quarter, compared to the consensus estimate of $581.89 million. Acushnet had a return on equity of 14.48% and a net margin of 7.36%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. Equities research analysts expect that Acushnet will post 2.78 EPS for the current year.

Institutional Trading of Acushnet

Hedge funds and other institutional investors have recently modified their holdings of the company. Panagora Asset Management Inc. bought a new stake in shares of Acushnet in the 1st quarter worth $270,000. Captrust Financial Advisors raised its stake in shares of Acushnet by 6.1% in the 1st quarter. Captrust Financial Advisors now owns 6,928 shares of the company’s stock worth $279,000 after buying an additional 401 shares in the last quarter. KB Financial Partners LLC raised its stake in shares of Acushnet by 26.5% in the 1st quarter. KB Financial Partners LLC now owns 8,882 shares of the company’s stock worth $358,000 after buying an additional 1,861 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Acushnet in the 1st quarter worth $364,000. Finally, SkyView Investment Advisors LLC grew its holdings in shares of Acushnet by 145.1% in the 1st quarter. SkyView Investment Advisors LLC now owns 9,496 shares of the company’s stock worth $382,000 after acquiring an additional 5,621 shares during the last quarter. Institutional investors own 49.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley cut their price target on Acushnet from $56.00 to $48.00 and set an “equal weight” rating on the stock in a report on Monday, April 25th. StockNews.com downgraded Acushnet from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. Finally, Truist Financial lifted their target price on Acushnet from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Friday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Acushnet currently has a consensus rating of “Hold” and a consensus target price of $53.80.

Acushnet Company Profile

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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.

See Also

Dividend History for Acushnet (NYSE:GOLF)

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