Victory Capital Management Inc. decreased its holdings in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,067,789 shares of the company's stock after selling 4,903 shares during the period. Victory Capital Management Inc. owned approximately 1.76% of Acushnet worth $75,898,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. US Bancorp DE grew its holdings in shares of Acushnet by 8.2% in the third quarter. US Bancorp DE now owns 9,897 shares of the company's stock valued at $631,000 after purchasing an additional 753 shares during the period. Farther Finance Advisors LLC boosted its holdings in Acushnet by 9.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,078 shares of the company's stock valued at $387,000 after purchasing an additional 535 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Acushnet by 6.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company's stock valued at $64,632,000 after buying an additional 63,294 shares during the period. Olympiad Research LP acquired a new stake in shares of Acushnet during the 3rd quarter worth approximately $232,000. Finally, Atria Investments Inc raised its position in shares of Acushnet by 7.5% during the 3rd quarter. Atria Investments Inc now owns 23,622 shares of the company's stock valued at $1,506,000 after buying an additional 1,650 shares during the period. 53.12% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
GOLF has been the subject of several analyst reports. JPMorgan Chase & Co. lowered Acushnet from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. KeyCorp cut their price objective on Acushnet from $80.00 to $77.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. StockNews.com cut shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and lifted their price target for the company from $77.00 to $80.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Acushnet has a consensus rating of "Hold" and a consensus target price of $72.80.
Check Out Our Latest Stock Analysis on Acushnet
Acushnet Trading Up 3.1 %
GOLF traded up $2.13 during mid-day trading on Monday, hitting $70.64. 791,546 shares of the stock were exchanged, compared to its average volume of 342,380. The company has a market cap of $4.23 billion, a PE ratio of 24.03 and a beta of 0.79. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm's fifty day moving average is $68.51 and its two-hundred day moving average is $67.61. Acushnet Holdings Corp. has a 1-year low of $58.54 and a 1-year high of $76.65.
Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. Equities analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.
Acushnet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.235 dividend. This is a boost from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Friday, March 7th. Acushnet's dividend payout ratio (DPR) is presently 28.23%.
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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