Lansdowne Partners UK LLP Trims Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Lansdowne Partners UK LLP lessened its position in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 563,196 shares of the company's stock after selling 10,579 shares during the quarter. Acushnet comprises about 2.9% of Lansdowne Partners UK LLP's investment portfolio, making the stock its 8th biggest position. Lansdowne Partners UK LLP owned about 0.93% of Acushnet worth $40,032,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOLF. Blue Trust Inc. raised its stake in Acushnet by 100.6% during the 4th quarter. Blue Trust Inc. now owns 351 shares of the company's stock valued at $25,000 after purchasing an additional 176 shares during the last quarter. Semanteon Capital Management LP raised its position in shares of Acushnet by 3.0% during the fourth quarter. Semanteon Capital Management LP now owns 9,659 shares of the company's stock valued at $687,000 after buying an additional 281 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its position in shares of Acushnet by 8.4% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 4,196 shares of the company's stock valued at $298,000 after buying an additional 326 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Acushnet by 3.2% in the third quarter. Orion Portfolio Solutions LLC now owns 10,628 shares of the company's stock valued at $678,000 after buying an additional 330 shares during the period. Finally, SkyView Investment Advisors LLC grew its position in Acushnet by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company's stock worth $1,324,000 after buying an additional 376 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have commented on GOLF. KeyCorp reduced their price objective on Acushnet from $80.00 to $77.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Truist Financial lowered their price target on shares of Acushnet from $68.00 to $64.00 and set a "hold" rating on the stock in a report on Monday. StockNews.com cut shares of Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. JPMorgan Chase & Co. cut shares of Acushnet from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. Finally, Compass Point upgraded Acushnet from a "neutral" rating to a "buy" rating and upped their price objective for the company from $77.00 to $80.00 in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $72.00.

Insiders Place Their Bets

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company's stock in a transaction 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 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 legal filing with the SEC, which is available through this link. Insiders own 54.60% of the company's stock.

Acushnet Price Performance

Acushnet stock traded down $1.18 during trading hours on Tuesday, hitting $60.54. 334,362 shares of the stock were exchanged, compared to its average volume of 368,404. Acushnet Holdings Corp. has a 12 month low of $55.31 and a 12 month high of $76.65. The business's 50-day moving average is $65.23 and its two-hundred day moving average is $67.42. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The stock has a market capitalization of $3.63 billion, a P/E ratio of 20.59 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, beating 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 firm had revenue of $445.17 billion during 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 business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.55%. 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 (DPR) is presently 28.23%.

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.