Farther Finance Advisors LLC Trims Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Farther Finance Advisors LLC reduced its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 83.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,017 shares of the company’s stock after selling 5,061 shares during the quarter. Farther Finance Advisors LLC’s holdings in Acushnet were worth $72,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. 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 acquiring an additional 63,294 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Acushnet during the third quarter valued at approximately $1,443,000. FMR LLC boosted its position in shares of Acushnet by 2.5% in the 3rd quarter. FMR LLC now owns 441,069 shares of the company’s stock worth $28,118,000 after purchasing an additional 10,762 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Acushnet in the 3rd quarter worth approximately $508,000. Finally, Atria Investments Inc boosted its position in shares of Acushnet by 35.0% in the 4th quarter. Atria Investments Inc now owns 31,890 shares of the company’s stock worth $2,267,000 after purchasing an additional 8,268 shares in the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Trading Down 1.1 %

NYSE:GOLF opened at $65.53 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 22.29 and a beta of 0.79. Acushnet Holdings Corp. has a one year low of $58.54 and a one year high of $76.65. The business has a fifty day moving average price of $67.52 and a 200-day moving average price of $67.59.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) 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 return on equity of 21.45% and a net margin of 7.78%. Sell-side analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.235 dividend. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.43%. Acushnet’s dividend payout ratio is 28.23%.

Insider Buying and Selling

In related news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the completion of the sale, the insider now owns 96,006 shares in the company, valued at approximately $6,802,985.16. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 54.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GOLF shares. StockNews.com cut Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Compass Point raised Acushnet from a “neutral” rating to a “buy” rating and increased their price target for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. KeyCorp lowered their price target on Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. cut 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.