Kennedy Capital Management LLC Grows Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

Kennedy Capital Management LLC boosted its position in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 71.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,199 shares of the company's stock after purchasing an additional 40,791 shares during the period. Kennedy Capital Management LLC owned approximately 0.16% of Acushnet worth $6,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Blue Trust Inc. increased its holdings in Acushnet by 100.6% during the 4th 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. Berry Wealth Group LP bought a new position in shares of Acushnet during the 4th quarter worth $202,000. Heritage Family Offices LLP purchased a new position in shares of Acushnet during the fourth quarter valued at $205,000. Leavell Investment Management Inc. bought a new stake in shares of Acushnet in the fourth quarter valued at about $210,000. Finally, Corient Private Wealth LLC purchased a new stake in Acushnet in the fourth quarter worth about $210,000. Hedge funds and other institutional investors own 53.12% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on GOLF. KeyCorp reduced their price target 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. JPMorgan Chase & Co. lowered 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 report on Thursday, January 23rd. Compass Point raised Acushnet from a "neutral" rating to a "buy" rating and increased their target price for the company from $77.00 to $80.00 in a research report on Tuesday, March 4th. Truist Financial reduced their price target on Acushnet from $68.00 to $64.00 and set a "hold" rating for the company in a research report on Monday. Finally, StockNews.com downgraded Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Acushnet has an average rating of "Hold" and a consensus target price of $72.00.

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Acushnet Stock Down 2.0 %

Shares of GOLF traded down $1.21 during midday trading on Wednesday, hitting $59.30. 356,307 shares of the company's stock traded hands, compared to its average volume of 559,565. Acushnet Holdings Corp. has a 1 year low of $55.31 and a 1 year high of $76.65. The firm's fifty day moving average is $65.23 and its 200-day moving average is $67.42. 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 stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 20.17 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. As a group, sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current 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 issued a $0.235 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.59%. This is a boost from Acushnet's previous quarterly dividend of $0.22. Acushnet's dividend payout ratio (DPR) is currently 28.23%.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the company'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 sale, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 54.60% of the company's stock.

About Acushnet

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.