NewEdge Wealth LLC decreased its position in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 14.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,101 shares of the company's stock after selling 9,103 shares during the quarter. NewEdge Wealth LLC owned 0.09% of Acushnet worth $3,703,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in GOLF. Jane Street Group LLC boosted its holdings in Acushnet by 702.1% in the third quarter. Jane Street Group LLC now owns 508,705 shares of the company's stock valued at $32,430,000 after purchasing an additional 445,281 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Acushnet by 258.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company's stock valued at $16,970,000 after buying an additional 192,034 shares during the last quarter. Eagle Asset Management Inc. grew its position in shares of Acushnet by 133.0% during the third quarter. Eagle Asset Management Inc. now owns 298,958 shares of the company's stock worth $19,059,000 after buying an additional 170,668 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Acushnet in the third quarter worth $7,986,000. Finally, Victory Capital Management Inc. raised its holdings in Acushnet by 8.2% in the third quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company's stock valued at $68,384,000 after acquiring an additional 81,065 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.
Analyst Ratings Changes
Several research analysts have weighed in on GOLF shares. JPMorgan Chase & Co. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and decreased their price objective for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. KeyCorp decreased their price target on Acushnet from $80.00 to $77.00 and set an "overweight" rating for the company in a research note on Friday. StockNews.com upgraded Acushnet from a "hold" rating to a "buy" rating in a research note on Friday. Compass Point upgraded Acushnet from a "neutral" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Tuesday. Finally, Truist Financial upped their price target on Acushnet from $65.00 to $68.00 and gave the company a "hold" rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $72.80.
Check Out Our Latest Research Report on Acushnet
Acushnet Stock Performance
GOLF stock traded up $1.34 during midday trading on Tuesday, reaching $65.46. The company had a trading volume of 254,148 shares, compared to its average volume of 337,201. 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 has a 50 day moving average price of $68.82 and a 200 day moving average price of $67.59. The firm has a market capitalization of $3.98 billion, a PE ratio of 22.27 and a beta of 0.86. Acushnet Holdings Corp. has a fifty-two week low of $58.54 and a fifty-two week high of $76.65.
Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.31. The firm had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.
Acushnet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.44%. This is a positive change from Acushnet's previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 7th. Acushnet's payout ratio is presently 25.83%.
Acushnet Profile
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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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