Invesco Ltd. Lowers Position in Acushnet Holdings Corp. (NYSE:GOLF)

Invesco Ltd. trimmed its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 426,006 shares of the company's stock after selling 85,285 shares during the quarter. Invesco Ltd. owned approximately 0.70% of Acushnet worth $30,281,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Acushnet by 6.7% during the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company's stock valued at $64,632,000 after acquiring an additional 63,294 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Acushnet during the third quarter worth $508,000. Sei Investments Co. lifted its holdings in shares of Acushnet by 4.3% during the 4th quarter. Sei Investments Co. now owns 102,137 shares of the company's stock valued at $7,260,000 after purchasing an additional 4,256 shares during the last quarter. Atria Investments Inc boosted its position in shares of Acushnet by 35.0% in the 4th quarter. Atria Investments Inc now owns 31,890 shares of the company's stock worth $2,267,000 after purchasing an additional 8,268 shares in the last quarter. Finally, Barclays PLC grew its stake in Acushnet by 361.5% during the 3rd quarter. Barclays PLC now owns 48,563 shares of the company's stock worth $3,096,000 after buying an additional 38,041 shares during the last quarter. Institutional investors own 53.12% of the company's stock.

Acushnet Stock Performance

NYSE GOLF traded up $1.70 on Wednesday, hitting $63.35. 89,746 shares of the company's stock traded hands, compared to its average volume of 546,793. The firm has a market capitalization of $3.80 billion, a PE ratio of 21.55 and a beta of 0.84. Acushnet Holdings Corp. has a 1-year low of $55.31 and a 1-year high of $76.65. The firm's 50-day moving average price is $64.57 and its two-hundred day moving average price is $67.32. 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 (NYSE:GOLF - Get Free Report) last posted 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. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. As a group, analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The firm 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 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 dividend yield of 1.48%. Acushnet's payout ratio is 28.23%.

Analysts Set New Price Targets

GOLF has been the subject of a number of research analyst reports. Compass Point upgraded Acushnet from a "neutral" rating to a "buy" rating and increased their price target for the company from $77.00 to $80.00 in a research note on Tuesday, March 4th. StockNews.com lowered shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. 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. KeyCorp decreased their price target on shares of Acushnet from $77.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Truist Financial dropped their price objective on shares of Acushnet from $68.00 to $64.00 and set a "hold" rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned 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 $70.60.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the sale, the insider now directly owns 96,006 shares in the company, valued at approximately $6,802,985.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 54.60% of the company's stock.

About Acushnet

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.