Boyar Asset Management Inc. Has $1.17 Million Position in Acushnet $GOLF

Boyar Asset Management Inc. grew its holdings in Acushnet (NYSE:GOLF) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,088 shares of the company’s stock after purchasing an additional 524 shares during the quarter. Boyar Asset Management Inc.’s holdings in Acushnet were worth $1,172,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GOLF. Vanguard Group Inc. grew its position in Acushnet by 9.6% during the first quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company’s stock worth $212,205,000 after buying an additional 269,742 shares in the last quarter. Nuveen LLC bought a new position in Acushnet during the first quarter worth about $9,376,000. Edgestream Partners L.P. bought a new position in Acushnet during the first quarter worth about $6,020,000. Public Sector Pension Investment Board bought a new position in shares of Acushnet in the first quarter valued at approximately $5,958,000. Finally, Wellington Management Group LLP raised its stake in shares of Acushnet by 6.7% in the first quarter. Wellington Management Group LLP now owns 1,310,965 shares of the company’s stock valued at $90,011,000 after acquiring an additional 82,247 shares during the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GOLF shares. Morgan Stanley lifted their target price on shares of Acushnet from $63.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Acushnet in a report on Saturday, September 27th. KeyCorp upped their target price on shares of Acushnet from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Finally, Zacks Research cut shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Acushnet presently has a consensus rating of “Hold” and an average target price of $73.00.

Acushnet Price Performance

Shares of NYSE GOLF opened at $80.54 on Friday. The firm has a market cap of $4.72 billion, a PE ratio of 21.53 and a beta of 0.89. The company has a current ratio of 2.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13. Acushnet has a 1-year low of $55.31 and a 1-year high of $84.40. The company has a fifty day moving average price of $77.30 and a 200 day moving average price of $72.17.

Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, August 7th. The company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.08). Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The company had revenue of $720.48 million during the quarter, compared to analyst estimates of $713.70 million. During the same period in the previous year, the company posted $1.11 earnings per share. Acushnet’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.94 annualized dividend and a yield of 1.2%. Acushnet’s payout ratio is 25.13%.

Insider Activity

In related news, insider Mary Louise Bohn sold 13,190 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $78.85, for a total value of $1,040,031.50. Following the completion of the sale, the insider directly owned 191,786 shares in the company, valued at approximately $15,122,326.10. This trade represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Holdings Corp. Misto sold 953,406 shares of the firm’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the completion of the sale, the director owned 29,523,653 shares of the company’s stock, valued at $1,935,570,690.68. This trade represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 53.60% of the company’s stock.

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.