Geode Capital Management LLC Has $45.24 Million Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Geode Capital Management LLC cut its stake in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 636,354 shares of the company's stock after selling 13,346 shares during the period. Geode Capital Management LLC owned approximately 1.05% of Acushnet worth $45,242,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in Acushnet by 13.8% in the 4th quarter. Franklin Resources Inc. now owns 25,987 shares of the company's stock valued at $1,847,000 after acquiring an additional 3,156 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Acushnet by 1.8% in the 4th quarter. Alliancebernstein L.P. now owns 37,309 shares of the company's stock worth $2,652,000 after purchasing an additional 647 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Acushnet by 45.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,281 shares of the company's stock worth $375,000 after buying an additional 1,643 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Acushnet by 31.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,229 shares of the company's stock worth $301,000 after buying an additional 1,023 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Acushnet in the fourth quarter valued at $14,825,000. 53.12% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Steven Francis Pelisek sold 20,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now owns 96,006 shares of the company's stock, valued at approximately $6,802,985.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 54.60% of the company's stock.

Acushnet Stock Up 0.6 %

NYSE GOLF traded up $0.34 on Friday, reaching $59.63. The stock had a trading volume of 388,479 shares, compared to its average volume of 369,290. Acushnet Holdings Corp. has a 1 year low of $55.31 and a 1 year high of $76.65. The business has a 50 day moving average price of $65.04 and a 200 day moving average price of $67.33. 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 company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 20.28 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. On average, analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GOLF shares. KeyCorp decreased their target price on Acushnet from $77.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday. JPMorgan Chase & Co. downgraded shares of Acushnet from a "neutral" rating to an "underweight" rating and dropped their target price 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 upped their price target for the company from $77.00 to $80.00 in a research report on Tuesday, March 4th. Truist Financial cut their target price on shares of Acushnet from $68.00 to $64.00 and set a "hold" rating on the stock in a research note on Monday. Finally, StockNews.com downgraded Acushnet from a "buy" rating to a "hold" rating in a 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 assigned a buy rating to the company. According to data from MarketBeat, Acushnet currently has a consensus rating of "Hold" and an average price target of $70.60.

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.