Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 16.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,024,102 shares of the company's stock after selling 194,755 shares during the quarter. JPMorgan Chase & Co. owned 1.68% of Acushnet worth $65,287,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in Acushnet by 8.2% during the third quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company's stock valued at $68,384,000 after buying an additional 81,065 shares during the period. Principal Financial Group Inc. grew its position 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 valued at $64,632,000 after acquiring an additional 63,294 shares during the period. Jane Street Group LLC increased its stake in shares of Acushnet by 702.1% in the 3rd quarter. Jane Street Group LLC now owns 508,705 shares of the company's stock valued at $32,430,000 after purchasing an additional 445,281 shares in the last quarter. Raymond James & Associates raised its holdings in Acushnet by 0.9% in the 3rd quarter. Raymond James & Associates now owns 466,099 shares of the company's stock worth $29,714,000 after purchasing an additional 4,300 shares during the period. Finally, FMR LLC boosted its position 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 purchasing an additional 10,762 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GOLF shares. Truist Financial upped their target price on Acushnet from $65.00 to $68.00 and gave the stock a "hold" rating in a research note on Friday, November 8th. Jefferies Financial Group downgraded shares of Acushnet from a "buy" rating to a "hold" rating and decreased their price objective for the company from $86.00 to $75.00 in a report on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Acushnet presently has an average rating of "Hold" and an average target price of $71.40.

Insider Buying and Selling

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $73.91, for a total value of $369,550.00. Following the completion of the sale, the insider now owns 88,710 shares of the company's stock, valued at $6,556,556.10. This represents a 5.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 54.60% of the stock is currently owned by company insiders.

Acushnet Price Performance

GOLF stock traded down $0.02 during midday trading on Friday, reaching $71.91. The stock had a trading volume of 187,195 shares, compared to its average volume of 233,848. Acushnet Holdings Corp. has a 52-week low of $58.54 and a 52-week high of $76.59. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The company's fifty day simple moving average is $70.32 and its 200 day simple moving average is $66.95. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 24.46 and a beta of 0.88.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10. The firm had revenue of $620.50 million for the quarter, compared to the consensus estimate of $620.40 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. As a group, sell-side analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.215 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.20%. Acushnet's dividend payout ratio is presently 29.25%.

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.