Acushnet Holdings Corp. (NYSE:GOLF) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,013,857 shares of the company's stock after acquiring an additional 63,294 shares during the quarter. Principal Financial Group Inc. owned approximately 1.67% of Acushnet worth $64,632,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in shares of Acushnet by 8.2% in the third quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company's stock worth $68,384,000 after acquiring an additional 81,065 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Acushnet by 702.1% during the 3rd quarter. Jane Street Group LLC now owns 508,705 shares of the company's stock valued at $32,430,000 after buying an additional 445,281 shares during the period. Raymond James & Associates increased its holdings in shares of 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 buying an additional 4,300 shares during the last quarter. FMR LLC raised its position in shares of 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 buying an additional 10,762 shares during the period. Finally, Eagle Asset Management Inc. raised its position in shares of Acushnet by 133.0% in the 3rd 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 during the period. 53.12% of the stock is owned by hedge funds and other institutional investors.

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 transaction of $369,550.00. Following the completion of the sale, the insider now owns 88,710 shares in the company, valued at $6,556,556.10. This trade represents a 5.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 54.60% of the stock is currently owned by company insiders.

Acushnet Stock Up 1.0 %

Shares of GOLF traded up $0.67 during midday trading on Friday, reaching $69.92. 602,589 shares of the company were exchanged, compared to its average volume of 309,645. 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 Holdings Corp. has a 1-year low of $58.54 and a 1-year high of $76.59. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 23.78 and a beta of 0.88. The stock has a 50-day moving average price of $68.57 and a 200-day moving average price of $66.53.

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

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.23%. The ex-dividend date was Friday, December 6th. Acushnet's dividend payout ratio (DPR) is 29.25%.

Analysts Set New Price Targets

Several equities research analysts have commented on GOLF shares. Jefferies Financial Group lowered Acushnet from a "buy" rating to a "hold" rating and dropped their price target for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Truist Financial increased their target price on shares of Acushnet from $65.00 to $68.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $71.40.

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.