Charles Schwab Investment Management Inc. Buys 2,793 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Charles Schwab Investment Management Inc. grew its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 361,744 shares of the company’s stock after purchasing an additional 2,793 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.59% of Acushnet worth $25,713,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of GOLF. Principal Financial Group Inc. boosted its stake in Acushnet by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company’s stock worth $72,783,000 after acquiring an additional 10,166 shares in the last quarter. Jane Street Group LLC boosted its stake in Acushnet by 702.1% during the third quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock worth $32,430,000 after acquiring an additional 445,281 shares in the last quarter. FMR LLC boosted its stake in Acushnet by 2.5% during the third quarter. FMR LLC now owns 441,069 shares of the company’s stock worth $28,118,000 after acquiring an additional 10,762 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in Acushnet by 133.0% during the third quarter. Eagle Asset Management Inc. now owns 298,958 shares of the company’s stock worth $19,059,000 after acquiring an additional 170,668 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Acushnet by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 271,995 shares of the company’s stock worth $19,333,000 after acquiring an additional 18,036 shares in the last quarter. Institutional investors own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. KeyCorp dropped 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. downgraded shares of Acushnet from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. StockNews.com downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and upped their target price for the stock from $77.00 to $80.00 in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $72.80.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the transaction, the insider now directly owns 96,006 shares in the company, valued at $6,802,985.16. This represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 54.60% of the stock is owned by corporate insiders.

Acushnet Stock Up 0.2 %

GOLF opened at $65.98 on Wednesday. Acushnet Holdings Corp. has a twelve month low of $58.54 and a twelve month high of $76.65. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 22.44 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The firm has a 50 day moving average price of $67.87 and a 200-day moving average price of $67.60.

Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business had revenue of $445.17 billion during the quarter, compared to analysts’ expectations of $454.83 million. Equities research analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued 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 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, March 7th. Acushnet’s dividend payout ratio is currently 28.23%.

Acushnet 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.