Swiss National Bank Reduces Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Swiss National Bank lowered its position in Acushnet Holdings Corp. (NYSE:GOLF) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,800 shares of the company’s stock after selling 200 shares during the quarter. Swiss National Bank owned about 0.10% of Acushnet worth $4,322,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOLF. Raymond James Financial Inc. purchased a new stake in Acushnet in the 4th quarter worth about $62,713,000. Jane Street Group LLC grew its stake in shares of Acushnet by 702.1% during the third quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock valued at $32,430,000 after buying an additional 445,281 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Acushnet by 258.9% in the third quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company’s stock worth $16,970,000 after buying an additional 192,034 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Acushnet by 6.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock worth $64,632,000 after acquiring an additional 63,294 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in Acushnet by 101.0% during the 3rd quarter. Edgestream Partners L.P. now owns 115,143 shares of the company’s stock valued at $7,340,000 after acquiring an additional 57,847 shares during the period. Institutional investors own 53.12% of the company’s stock.

Insiders Place Their Bets

In other news, insider Steven Francis Pelisek sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was 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 trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 54.60% of the company’s stock.

Acushnet Trading Down 1.2 %

Shares of NYSE GOLF opened at $67.10 on Wednesday. The business has a fifty day moving average price of $67.34 and a 200 day moving average price of $67.61. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. Acushnet Holdings Corp. has a 1-year low of $58.54 and a 1-year high of $76.65. The stock has a market capitalization of $4.02 billion, a P/E ratio of 22.82 and a beta of 0.79.

Acushnet (NYSE:GOLF) last posted 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 company had revenue of $445.17 billion during the quarter, compared to analysts’ expectations of $454.83 million. Equities research analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $0.235 per share. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a yield of 1.40%. Acushnet’s dividend payout ratio is presently 28.23%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GOLF shares. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and upped their price target for the stock from $77.00 to $80.00 in a report on Tuesday, March 4th. KeyCorp decreased their price objective on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, StockNews.com downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Acushnet presently 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.