Acushnet Holdings (GOLF) Declares $0.20 Dividend

Acushnet Holdings said on May 4, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.78 annualized). Previously, the company paid $0.20 per share.

Shares must be purchased before the ex-div date of June 1, 2023 to qualify for the dividend. Shareholders of record as of June 2, 2023 will receive the payment on June 16, 2023.

At the current share price of $53.25 / share, the stock's dividend yield is 1.46%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.79%, the lowest has been 1.15%, and the highest has been 2.93%. The standard deviation of yields is 0.37 (n=235).

The current dividend yield is 0.88 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.25. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.26%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 436 funds or institutions reporting positions in Acushnet Holdings. This is an increase of 17 owner(s) or 4.06% in the last quarter. Average portfolio weight of all funds dedicated to GOLF is 0.12%, a decrease of 15.98%. Total shares owned by institutions decreased in the last three months by 2.09% to 42,147K shares. The put/call ratio of GOLF is 0.83, indicating a bullish outlook.

Analyst Price Forecast Suggests 3.92% Upside

As of April 24, 2023, the average one-year price target for Acushnet Holdings is 55.34. The forecasts range from a low of 50.50 to a high of $65.10. The average price target represents an increase of 3.92% from its latest reported closing price of 53.25.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Acushnet Holdings is 2,297MM, a decrease of 2.28%. The projected annual non-GAAP EPS is 2.70.

What are Other Shareholders Doing?

Kayne Anderson Rudnick Investment Management holds 7,767K shares representing 11.53% ownership of the company. In it's prior filing, the firm reported owning 7,929K shares, representing a decrease of 2.08%. The firm decreased its portfolio allocation in GOLF by 10.07% over the last quarter.

Wellington Management Group Llp holds 2,886K shares representing 4.29% ownership of the company. In it's prior filing, the firm reported owning 2,615K shares, representing an increase of 9.41%. The firm increased its portfolio allocation in GOLF by 1.45% over the last quarter.

Jpmorgan Chase holds 1,727K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 2,103K shares, representing a decrease of 21.77%. The firm decreased its portfolio allocation in GOLF by 26.39% over the last quarter.

VEXPX - VANGUARD EXPLORER FUND Investor Shares holds 1,617K shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 1,428K shares, representing an increase of 11.73%. The firm increased its portfolio allocation in GOLF by 7.29% over the last quarter.

PKSAX - Virtus KAR Small-Cap Core Fund holds 1,612K shares representing 2.39% ownership of the company. In it's prior filing, the firm reported owning 1,667K shares, representing a decrease of 3.41%. The firm decreased its portfolio allocation in GOLF by 8.92% over the last quarter.

Acushnet Holdings Background Information
(This description is provided by the company.)

Acushnet Holdings is the global leader in the design, development, manufacture and distribution of performance-driven golf products, which are widely recognized for their quality excellence. Driven by our focus on dedicated and discerning golfers and the golf shops that serve them,we believe we are the most authentic and enduring company in the golf industry. Our mission - to be the performance and quality leader in every golf product category in which we compete -has remained consistent since we entered the golf ball business in 1932. Today, we are the steward of two of the most revered brands in golf - Titleist, one of golf's leading performance equipment brands, and FootJoy, one of golf's leading performance wear brands.

This story originally appeared on Fintel.