Raymond James Financial Inc. Invests $62.71 Million in Acushnet Holdings Corp. (NYSE:GOLF)

Raymond James Financial Inc. purchased a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 882,288 shares of the company's stock, valued at approximately $62,713,000. Raymond James Financial Inc. owned about 1.45% of Acushnet as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GOLF. Blue Trust Inc. lifted its holdings in shares of Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after buying an additional 176 shares in the last quarter. Robertson Stephens Wealth Management LLC boosted its holdings in Acushnet by 8.4% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 4,196 shares of the company's stock valued at $298,000 after acquiring an additional 326 shares during the period. Orion Portfolio Solutions LLC increased its stake in shares of Acushnet by 3.2% in the third quarter. Orion Portfolio Solutions LLC now owns 10,628 shares of the company's stock worth $678,000 after buying an additional 330 shares during the period. SkyView Investment Advisors LLC raised its stake in shares of Acushnet by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company's stock valued at $1,324,000 after acquiring an additional 376 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its position in shares of Acushnet by 2.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 18,433 shares of the company's stock worth $1,175,000 after buying an additional 413 shares during the last quarter. Institutional investors own 53.12% of the company's stock.

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Insiders Place Their Bets

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

Acushnet Stock Up 1.5 %

GOLF stock traded up $0.97 on Friday, reaching $65.37. 423,571 shares of the company traded hands, compared to its average volume of 347,294. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The firm has a fifty day simple moving average of $68.22 and a 200-day simple moving average of $67.62. Acushnet Holdings Corp. has a one year low of $58.54 and a one year high of $76.65. The company has a market cap of $3.92 billion, a P/E ratio of 22.24 and a beta of 0.79.

Acushnet (NYSE:GOLF - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.31. The business had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Research analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The business 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. The ex-dividend date is Friday, March 7th. This is a positive change from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 1.44%. Acushnet's payout ratio is currently 28.23%.

Analyst Upgrades and Downgrades

GOLF has been the subject of several research analyst reports. KeyCorp lowered their price objective on shares of Acushnet from $80.00 to $77.00 and set an "overweight" rating for the company in a report on Friday, February 28th. StockNews.com lowered Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Compass Point upgraded Acushnet from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $77.00 to $80.00 in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lowered Acushnet from a "neutral" rating to an "underweight" rating and lowered their price objective for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Acushnet currently has an average rating of "Hold" and an average target price of $72.80.

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.