Acushnet Holdings Corp. (NYSE:GOLF) Holdings Lifted by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. boosted its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 40.4% in the 4th quarter, Holdings Channel reports. The firm owned 168,822 shares of the company’s stock after buying an additional 48,553 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Acushnet were worth $12,000,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Acushnet by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company’s stock valued at $107,097,000 after purchasing an additional 5,661 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Acushnet by 5.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company’s stock worth $76,654,000 after acquiring an additional 54,314 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Acushnet by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company’s stock valued at $72,783,000 after acquiring an additional 10,166 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Acushnet in the 4th quarter valued at approximately $62,713,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Acushnet in the 4th quarter valued at approximately $28,641,000. Institutional investors own 53.12% of the company’s stock.

Acushnet Stock Down 1.1%

GOLF opened at $70.39 on Wednesday. The company has a market capitalization of $4.14 billion, a PE ratio of 23.94 and a beta of 0.90. The business has a 50-day moving average of $64.56 and a 200-day moving average of $67.66. Acushnet Holdings Corp. has a fifty-two week low of $55.31 and a fifty-two week high of $76.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.30. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $703.37 million during the quarter, compared to analysts’ expectations of $697.82 million. During the same period in the prior year, the company posted $1.35 earnings per share. Acushnet’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.94 annualized dividend and a yield of 1.34%. Acushnet’s dividend payout ratio (DPR) is presently 26.11%.

Analyst Upgrades and Downgrades

GOLF has been the topic of several recent analyst reports. KeyCorp boosted their target price on shares of Acushnet from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. StockNews.com downgraded Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Compass Point cut Acushnet from a “buy” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $71.00 in a research note on Monday, May 5th. JPMorgan Chase & Co. downgraded Acushnet from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. Finally, Truist Financial raised their price target on shares of Acushnet from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $70.00.

Insider Activity

In related news, insider Steven Francis Pelisek sold 20,000 shares of the business’s 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 completion of the transaction, the insider now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 54.60% of the company’s stock.

Acushnet 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.