Acushnet Holdings Corp. (NYSE:GOLF) Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 271,995 shares of the company’s stock after buying an additional 18,036 shares during the period. Bank of New York Mellon Corp owned approximately 0.45% of Acushnet worth $19,333,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of GOLF. Blue Trust Inc. increased its holdings in shares of Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after buying an additional 176 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Acushnet during the 3rd quarter valued at $41,000. Quarry LP raised its stake in Acushnet by 745.6% during the 3rd quarter. Quarry LP now owns 1,057 shares of the company’s stock valued at $67,000 after purchasing an additional 932 shares during the period. Berry Wealth Group LP acquired a new stake in Acushnet during the 4th quarter valued at $202,000. Finally, Heritage Family Offices LLP acquired a new stake in Acushnet during the 4th quarter valued at $205,000. Institutional investors own 53.12% of the company’s stock.

Acushnet Stock Up 3.1 %

Shares of GOLF opened at $70.64 on Tuesday. The company has a 50-day simple moving average of $68.51 and a 200-day simple moving average of $67.64. The firm has a market capitalization of $4.23 billion, a P/E ratio of 24.03 and a beta of 0.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet Holdings Corp. has a 52 week low of $58.54 and a 52 week high of $76.65.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.31. The firm had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. On average, equities research analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.235 per share. This is a boost from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, March 7th. Acushnet’s dividend payout ratio is 28.23%.

Analyst Ratings Changes

Several brokerages have issued reports on GOLF. KeyCorp cut their target price on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and boosted their price target for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. Finally, StockNews.com cut shares of Acushnet from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Acushnet has an average rating of “Hold” and a consensus price target of $72.80.

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.