Vanguard Group Inc. Has $200.51 Million Position in Acushnet Holdings Corp. (NYSE:GOLF)

Vanguard Group Inc. cut its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,820,924 shares of the company’s stock after selling 28,814 shares during the period. Vanguard Group Inc. owned about 4.64% of Acushnet worth $200,511,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Acushnet by 100.6% during the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after purchasing an additional 176 shares during the period. Quarry LP raised its position in Acushnet by 745.6% during the 3rd quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after purchasing an additional 932 shares during the last quarter. Berry Wealth Group LP bought a new position in Acushnet during the 4th quarter worth $202,000. Heritage Family Offices LLP acquired a new position in Acushnet during the 4th quarter worth about $205,000. Finally, Leavell Investment Management Inc. bought a new stake in shares of Acushnet in the 4th quarter valued at about $210,000. 53.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOLF has been the topic of a number of recent analyst reports. KeyCorp cut their price objective on Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $77.00 to $80.00 in a research report on Tuesday, March 4th. StockNews.com lowered shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, JPMorgan Chase & Co. downgraded shares of Acushnet from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $72.80.

Acushnet Price Performance

GOLF stock opened at $60.35 on Friday. Acushnet Holdings Corp. has a 1 year low of $57.21 and a 1 year high of $76.65. The stock has a market capitalization of $3.62 billion, a PE ratio of 20.53 and a beta of 0.84. The company’s 50-day moving average is $66.30 and its 200-day moving average is $67.68. 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 (NYSE:GOLF) last issued its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $445.17 billion for 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 firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.235 dividend. This is a boost 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 annualized dividend and a yield of 1.56%. Acushnet’s dividend payout ratio (DPR) is presently 28.23%.

Insider Activity

In other news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 96,006 shares in the company, valued at $6,802,985.16. The trade was a 17.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 54.60% of the company’s stock.

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.