Acushnet Holdings Corp. (NYSE:GOLF) Position Reduced by Invesco Ltd.

Invesco Ltd. reduced its position in Acushnet Holdings Corp. (NYSE:GOLF) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 426,006 shares of the company’s stock after selling 85,285 shares during the period. Invesco Ltd.’s holdings in Acushnet were worth $30,281,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in Acushnet by 6.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock worth $64,632,000 after purchasing an additional 63,294 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Acushnet in the third quarter worth $508,000. Sei Investments Co. grew its holdings in shares of Acushnet by 4.3% during the fourth quarter. Sei Investments Co. now owns 102,137 shares of the company’s stock valued at $7,260,000 after buying an additional 4,256 shares in the last quarter. Atria Investments Inc raised its position in Acushnet by 35.0% during the fourth quarter. Atria Investments Inc now owns 31,890 shares of the company’s stock valued at $2,267,000 after buying an additional 8,268 shares during the period. Finally, Barclays PLC lifted its stake in Acushnet by 361.5% in the 3rd quarter. Barclays PLC now owns 48,563 shares of the company’s stock worth $3,096,000 after acquiring an additional 38,041 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insider Buying and Selling

In related news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the sale, the insider now directly owns 96,006 shares of the company’s stock, valued at $6,802,985.16. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 54.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GOLF. Compass Point upgraded Acushnet from a “neutral” rating to a “buy” rating and upped their target price for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. KeyCorp lowered their price target on Acushnet from $77.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday. Truist Financial dropped their price objective on Acushnet from $68.00 to $64.00 and set a “hold” rating on the stock in a report on Monday. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Finally, StockNews.com downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $70.60.

Acushnet Stock Performance

NYSE:GOLF opened at $59.63 on Friday. The firm has a market capitalization of $3.57 billion, a PE ratio of 20.28 and a beta of 0.84. 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 $55.31 and a 1 year high of $76.65. The firm’s fifty day simple moving average is $65.04 and its 200 day simple moving average is $67.33.

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

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.235 dividend. This is an increase from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 7th. This represents a $0.94 annualized dividend and a dividend yield of 1.58%. Acushnet’s dividend payout ratio (DPR) is presently 28.23%.

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.