Marsico Capital Management LLC Has $6.37 Million Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Marsico Capital Management LLC cut its position in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 18.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,319 shares of the company’s stock after selling 22,014 shares during the period. Marsico Capital Management LLC owned about 0.16% of Acushnet worth $6,368,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new stake in Acushnet during the first quarter worth $27,000. Principal Securities Inc. bought a new position in Acushnet during the fourth quarter worth about $37,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Acushnet by 101.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock valued at $76,000 after purchasing an additional 585 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of Acushnet in the 2nd quarter valued at approximately $200,000. Finally, Phillips Wealth Planners LLC acquired a new position in shares of Acushnet in the 4th quarter worth approximately $204,000. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOLF. Compass Point cut their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and cut their price objective for the company from $86.00 to $75.00 in a research report on Tuesday. Finally, Truist Financial increased their target price on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $67.43.

Acushnet Price Performance

Shares of GOLF stock opened at $63.36 on Wednesday. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 22.00 and a beta of 0.85. Acushnet Holdings Corp. has a 12 month low of $49.42 and a 12 month high of $74.77. The company has a quick ratio of 1.27, a current ratio of 2.28 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average price of $66.95 and a 200 day moving average price of $64.80.

Acushnet (NYSE:GOLF) last issued its earnings results on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.09). Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The business had revenue of $683.90 million for the quarter, compared to the consensus estimate of $709.83 million. During the same quarter in the previous year, the firm posted $1.09 EPS. The business’s revenue was down .8% on a year-over-year basis. Research analysts expect that Acushnet Holdings Corp. will post 3.02 EPS for the current year.

Acushnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a $0.215 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.36%. Acushnet’s dividend payout ratio is 29.86%.

Insider Buying and Selling

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.19, for a total value of $71,250,900.00. Following the completion of the sale, the director now owns 31,412,966 shares of the company’s stock, valued at $2,016,398,287.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 54.60% of the stock is owned by insiders.

About Acushnet

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.