Kestra Private Wealth Services LLC Grows Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Kestra Private Wealth Services LLC increased its position in Acushnet Holdings Corp. (NYSE:GOLF) by 28.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,262 shares of the company’s stock after buying an additional 1,156 shares during the period. Kestra Private Wealth Services LLC’s holdings in Acushnet were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System boosted its holdings in Acushnet by 2.0% in the third quarter. Arizona State Retirement System now owns 9,590 shares of the company’s stock valued at $509,000 after acquiring an additional 188 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Acushnet by 43.3% during the third quarter. First Horizon Advisors Inc. now owns 711 shares of the company’s stock valued at $38,000 after buying an additional 215 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Acushnet by 2.3% in the 3rd quarter. Deutsche Bank AG now owns 17,769 shares of the company’s stock valued at $942,000 after acquiring an additional 399 shares during the period. SkyView Investment Advisors LLC lifted its holdings in shares of Acushnet by 2.5% during the 3rd quarter. SkyView Investment Advisors LLC now owns 18,476 shares of the company’s stock valued at $980,000 after acquiring an additional 449 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new stake in Acushnet during the 4th quarter worth $32,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insider Buying and Selling

In other Acushnet news, insider John Francis Duke, Jr. sold 17,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $64.32, for a total transaction of $1,093,440.00. Following the sale, the insider now directly owns 130,472 shares of the company’s stock, valued at $8,391,959.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Brendan J. Reidy sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $64.49, for a total value of $580,410.00. Following the sale, the insider now owns 58,588 shares of the company’s stock, valued at approximately $3,778,340.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Francis Duke, Jr. sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $64.32, for a total value of $1,093,440.00. Following the transaction, the insider now owns 130,472 shares of the company’s stock, valued at approximately $8,391,959.04. The disclosure for this sale can be found here. 54.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GOLF shares. Truist Financial upped their target price on Acushnet from $55.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, January 9th. KeyCorp upped their target price on shares of Acushnet from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, January 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Acushnet currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.71.

Acushnet Trading Up 3.7 %

NYSE GOLF opened at $65.49 on Wednesday. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 22.66 and a beta of 0.88. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 0.84. Acushnet Holdings Corp. has a 12 month low of $43.62 and a 12 month high of $70.10. The company’s fifty day moving average price is $63.50 and its two-hundred day moving average price is $61.80.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.03). Acushnet had a return on equity of 20.09% and a net margin of 8.33%. The company had revenue of $413.00 million for the quarter, compared to the consensus estimate of $429.16 million. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, research analysts predict that Acushnet Holdings Corp. will post 3.17 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.215 per share. This is a positive change from Acushnet’s previous quarterly dividend of $0.20. This represents a $0.86 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Thursday, March 7th. Acushnet’s dividend payout ratio is currently 29.76%.

About Acushnet

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.