JPMorgan Chase & Co. Purchases 54,314 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

JPMorgan Chase & Co. increased its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,078,416 shares of the company's stock after purchasing an additional 54,314 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.77% of Acushnet worth $76,654,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in 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 boosted its holdings in shares of Acushnet by 745.6% during the 3rd quarter. Quarry LP now owns 1,057 shares of the company's stock worth $67,000 after buying an additional 932 shares during the period. Berry Wealth Group LP acquired a new position in Acushnet in the 4th quarter valued at about $202,000. Heritage Family Offices LLP bought a new position in Acushnet in the 4th quarter valued at about $205,000. Finally, Leavell Investment Management Inc. acquired a new stake in Acushnet during the fourth quarter worth approximately $210,000. Institutional investors and hedge funds own 53.12% of the company's stock.

Acushnet Price Performance

Acushnet stock traded down $2.84 during midday trading on Tuesday, reaching $56.19. The company's stock had a trading volume of 552,414 shares, compared to its average volume of 362,659. The stock has a market cap of $3.37 billion, a PE ratio of 19.11 and a beta of 0.84. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a 52 week low of $55.84 and a 52 week high of $76.65. The business has a 50-day moving average price of $65.70 and a 200-day moving average price of $67.54.

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Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.31. The business had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. On average, sell-side analysts predict that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.235 per share. The ex-dividend date was Friday, March 7th. This is an increase from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a yield of 1.67%. Acushnet's payout ratio is presently 28.23%.

Insider Activity at Acushnet

In other 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 transaction of $1,417,200.00. Following the transaction, the insider now directly owns 96,006 shares of the company's stock, valued at $6,802,985.16. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 54.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on GOLF. JPMorgan Chase & Co. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and lifted their price target for the company from $77.00 to $80.00 in a research report on Tuesday, March 4th. StockNews.com cut Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, KeyCorp reduced their target price on Acushnet from $80.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. One equities research 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's stock. Based on data from MarketBeat.com, Acushnet has an average 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.