Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its position in Acushnet Holdings Corp. (NYSE:GOLF) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 358,951 shares of the company’s stock after selling 4,000 shares during the period. Charles Schwab Investment Management Inc. owned about 0.58% of Acushnet worth $22,883,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Acushnet by 8.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company’s stock worth $68,384,000 after buying an additional 81,065 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Acushnet by 6.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after purchasing an additional 63,294 shares during the last quarter. Raymond James & Associates boosted its holdings in Acushnet by 0.9% in the third quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock worth $29,714,000 after purchasing an additional 4,300 shares in the last quarter. Tributary Capital Management LLC increased its position in Acushnet by 0.3% during the second quarter. Tributary Capital Management LLC now owns 266,374 shares of the company’s stock worth $16,909,000 after buying an additional 791 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Acushnet by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 240,447 shares of the company’s stock valued at $15,264,000 after buying an additional 4,644 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insider Transactions at Acushnet

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the transaction, the insider now owns 88,710 shares in the company, valued at approximately $6,556,556.10. This trade represents a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 54.60% of the company’s stock.

Acushnet Trading Down 0.5 %

NYSE:GOLF opened at $74.67 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a 1-year low of $56.34 and a 1-year high of $76.38. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 25.40 and a beta of 0.88. The business’s 50-day moving average price is $66.40 and its two-hundred day moving average price is $65.83.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $620.50 million for the quarter, compared to analyst estimates of $620.40 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, equities analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, December 6th. Acushnet’s dividend payout ratio (DPR) is currently 29.25%.

Analyst Ratings Changes

A number of research firms have weighed in on GOLF. Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and cut their target price for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Truist Financial raised their price objective on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $71.40.

Acushnet Company 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.