Wellington Management Group LLP Has $105.91 Million Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Wellington Management Group LLP lessened its holdings in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,661,353 shares of the company's stock after selling 31,288 shares during the quarter. Wellington Management Group LLP owned approximately 2.73% of Acushnet worth $105,911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of Acushnet by 8.2% during the third quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company's stock worth $68,384,000 after purchasing an additional 81,065 shares in the last quarter. Principal Financial Group Inc. raised its position in Acushnet by 6.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company's stock valued at $64,632,000 after purchasing an additional 63,294 shares during the last quarter. Raymond James & Associates boosted its stake in Acushnet by 0.9% during 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. FMR LLC grew its position in Acushnet by 2.5% during the 3rd quarter. FMR LLC now owns 441,069 shares of the company's stock worth $28,118,000 after purchasing an additional 10,762 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in Acushnet by 133.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 298,958 shares of the company's stock valued at $19,059,000 after acquiring an additional 170,668 shares during the period. 53.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOLF has been the topic of a number of analyst reports. Truist Financial lifted their price objective on shares of Acushnet from $65.00 to $68.00 and gave the company a "hold" rating in a research report on Friday, November 8th. Jefferies Financial Group cut shares of Acushnet from a "buy" rating to a "hold" rating and dropped their target price 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's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $71.40.

Insiders Place Their Bets

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was 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 in the company, valued at approximately $6,556,556.10. This trade represents a 5.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 54.60% of the company's stock.

Acushnet Stock Performance

Shares of NYSE:GOLF traded up $0.24 on Tuesday, reaching $75.64. 211,775 shares of the company's stock were exchanged, compared to its average volume of 307,936. Acushnet Holdings Corp. has a fifty-two week low of $56.74 and a fifty-two week high of $76.38. The business's 50-day moving average is $66.83 and its two-hundred day moving average is $66.03. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 25.67 and a beta of 0.88.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $620.50 million during the quarter, compared to analyst estimates of $620.40 million. During the same period in the prior year, the company posted $0.85 EPS. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.215 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.86 annualized dividend and a yield of 1.14%. 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.