Acushnet Holdings Corp. (NYSE:GOLF) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 14.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 229,169 shares of the company's stock after buying an additional 29,367 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.38% of Acushnet worth $16,289,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Acushnet by 6.7% in the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company's stock worth $64,632,000 after buying an additional 63,294 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Acushnet during the third quarter valued at approximately $508,000. Sei Investments Co. grew its stake in Acushnet by 4.3% in the fourth quarter. Sei Investments Co. now owns 102,137 shares of the company's stock worth $7,260,000 after purchasing an additional 4,256 shares during the period. Atria Investments Inc raised its holdings in Acushnet by 35.0% in the fourth 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. Finally, Barclays PLC lifted its position in Acushnet by 361.5% during the third quarter. Barclays PLC now owns 48,563 shares of the company's stock valued at $3,096,000 after buying an additional 38,041 shares during the period. 53.12% of the stock is currently owned by institutional investors.

Acushnet Trading Up 0.6 %

Shares of GOLF traded up $0.34 during mid-day trading on Friday, reaching $59.63. 388,479 shares of the company's stock traded hands, compared to its average volume of 369,290. The stock's 50-day moving average is $65.04 and its two-hundred day moving average is $67.33. 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 stock has a market cap of $3.57 billion, a P/E ratio of 20.28 and a beta of 0.84. Acushnet Holdings Corp. has a 12 month low of $55.31 and a 12 month high of $76.65.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. Research analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Friday, March 7th. This is a boost from Acushnet's previous quarterly dividend of $0.22. Acushnet's dividend payout ratio is presently 28.23%.

Insider Buying and Selling at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GOLF shares. Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and increased their price target for the stock from $77.00 to $80.00 in a research note on Tuesday, March 4th. JPMorgan Chase & Co. cut Acushnet from a "neutral" rating to an "underweight" rating and dropped their price target for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. KeyCorp reduced their price objective on Acushnet from $77.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday. Truist Financial dropped their target price on Acushnet from $68.00 to $64.00 and set a "hold" rating on the stock in a report on Monday. Finally, StockNews.com lowered 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 stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $70.60.

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.