Acushnet Holdings Corp. (NYSE:GOLF) Announces $0.22 Quarterly Dividend

Acushnet Holdings Corp. (NYSE:GOLF) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Shareholders of record on Friday, September 6th will be paid a dividend of 0.215 per share on Friday, September 20th. This represents a $0.86 annualized dividend and a yield of 1.30%. The ex-dividend date is Friday, September 6th.

Acushnet has raised its dividend payment by an average of 8.0% per year over the last three years. Acushnet has a dividend payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Acushnet to earn $3.44 per share next year, which means the company should continue to be able to cover its $0.86 annual dividend with an expected future payout ratio of 25.0%.

Acushnet Trading Down 1.1 %

Shares of Acushnet stock opened at $66.26 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28. The stock has a market capitalization of $4.10 billion, a P/E ratio of 23.01 and a beta of 0.85. Acushnet has a 52-week low of $49.42 and a 52-week high of $74.77. The stock’s 50-day simple moving average is $66.41 and its 200 day simple moving average is $64.99.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data 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 firm had revenue of $683.90 million for the quarter, compared to analysts’ expectations of $709.83 million. During the same period in the prior year, the firm posted $1.09 EPS. Acushnet’s revenue was down .8% on a year-over-year basis. As a group, research analysts anticipate that Acushnet will post 3.02 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GOLF. JPMorgan Chase & Co. raised their price target on Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. Truist Financial lifted their price target on shares of Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Compass Point lowered their target price on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $66.43.

Insider Transactions at Acushnet

In related news, Director Holdings Corp. Fila sold 1,110,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.19, for a total transaction of $71,250,900.00. Following the completion of the transaction, the director now directly owns 31,412,966 shares in the company, valued at approximately $2,016,398,287.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 54.60% of the company’s stock.

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.