Grantham Mayo Van Otterloo & Co. LLC lessened its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 7.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 610,338 shares of the company's stock after selling 49,760 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned 1.00% of Acushnet worth $43,383,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of GOLF. Cerity Partners LLC bought a new stake in shares of Acushnet during the 3rd quarter valued at $518,000. FMR LLC lifted its stake in Acushnet by 2.5% in 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 in the last quarter. BNP Paribas Financial Markets boosted its stake in Acushnet by 11.6% during the third quarter. BNP Paribas Financial Markets now owns 18,436 shares of the company's stock valued at $1,175,000 after buying an additional 1,909 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Acushnet in the third quarter valued at $1,036,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Acushnet by 28.7% in the 3rd quarter. Janus Henderson Group PLC now owns 43,747 shares of the company's stock worth $2,789,000 after buying an additional 9,751 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.
Insider Buying and Selling
In related news, insider Steven Francis Pelisek sold 20,000 shares of the company'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 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. 54.60% of the stock is currently owned by company insiders.
Acushnet Stock Down 2.9 %
Shares of NYSE GOLF traded down $1.77 during midday trading on Thursday, reaching $60.23. 466,926 shares of the company's stock traded hands, compared to its average volume of 364,668. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 20.54 and a beta of 0.84. Acushnet Holdings Corp. has a one year low of $55.31 and a one year high of $76.65. 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 stock's 50 day simple moving average is $65.54 and its 200-day simple moving average is $67.49.
Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate 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 analyst estimates of $454.83 million. On average, analysts predict that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.
Acushnet Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.235 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.56%. This is an increase from Acushnet's previous quarterly dividend of $0.22. Acushnet's payout ratio is presently 28.23%.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. StockNews.com downgraded shares of Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. JPMorgan Chase & Co. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and decreased their price objective for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and upped their target price for the stock from $77.00 to $80.00 in a research note on Tuesday, March 4th. Finally, KeyCorp lowered their price target on Acushnet from $80.00 to $77.00 and set an "overweight" rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $72.80.
Check Out Our Latest Research Report on GOLF
About Acushnet
(
Free Report)
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.
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