Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,228,718 shares of the company's stock after selling 432,635 shares during the period. Wellington Management Group LLP owned 2.02% of Acushnet worth $87,337,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GOLF. Cerity Partners LLC purchased a new stake in shares of Acushnet during the 3rd quarter worth approximately $518,000. FMR LLC increased its position in shares of Acushnet by 2.5% during the 3rd quarter. FMR LLC now owns 441,069 shares of the company's stock valued at $28,118,000 after purchasing an additional 10,762 shares during the last quarter. BNP Paribas Financial Markets grew its position in Acushnet by 11.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 18,436 shares of the company's stock valued at $1,175,000 after acquiring an additional 1,909 shares during the last quarter. Walleye Capital LLC bought a new position in Acushnet in the 3rd quarter valued at $1,036,000. Finally, Janus Henderson Group PLC grew its position in Acushnet by 28.7% in the 3rd quarter. Janus Henderson Group PLC now owns 43,747 shares of the company's stock valued at $2,789,000 after acquiring an additional 9,751 shares during the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Stock Performance

Acushnet stock traded down $1.96 during midday trading on Thursday, hitting $60.04. 217,504 shares of the company were exchanged, compared to its average volume of 363,768. The firm has a market capitalization of $3.60 billion, a PE ratio of 20.48 and a beta of 0.84. Acushnet Holdings Corp. has a fifty-two week low of $55.31 and a fifty-two week high of $76.65. The business has a fifty day simple moving average of $65.54 and a two-hundred day simple moving average of $67.49. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10.

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Acushnet (NYSE:GOLF - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $445.17 billion for the quarter, compared to the consensus estimate of $454.83 million. On average, sell-side analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $0.235 per share. This is a boost from Acushnet's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.94 annualized dividend and a yield of 1.57%. Acushnet's dividend payout ratio (DPR) is 28.23%.

Analyst Upgrades and Downgrades

GOLF has been the subject of several research reports. JPMorgan Chase & Co. cut Acushnet from a "neutral" rating to an "underweight" rating and lowered their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. 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. 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, February 28th. Finally, StockNews.com cut Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $72.80.

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 stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the sale, the insider now directly owns 96,006 shares of the company's stock, valued at approximately $6,802,985.16. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 54.60% of the stock is owned by insiders.

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.