Kennedy Capital Management LLC Boosts Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Kennedy Capital Management LLC grew its stake in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 71.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,199 shares of the company's stock after purchasing an additional 40,791 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.16% of Acushnet worth $6,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOLF. Renaissance Technologies LLC increased its position in shares of Acushnet by 93.1% during the fourth quarter. Renaissance Technologies LLC now owns 19,693 shares of the company's stock valued at $1,400,000 after acquiring an additional 9,493 shares during the last quarter. Legal & General Group Plc increased its position in shares of Acushnet by 1.7% in the fourth quarter. Legal & General Group Plc now owns 38,124 shares of the company's stock valued at $2,710,000 after buying an additional 621 shares in the last quarter. Wedbush Securities Inc. purchased a new stake in shares of Acushnet in the fourth quarter valued at $221,000. Envestnet Asset Management Inc. grew its position in shares of Acushnet by 14.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 229,169 shares of the company's stock valued at $16,289,000 after purchasing an additional 29,367 shares during the period. Finally, Landscape Capital Management L.L.C. raised its position in shares of Acushnet by 50.4% in the 4th quarter. Landscape Capital Management L.L.C. now owns 24,877 shares of the company's stock worth $1,768,000 after buying an additional 8,335 shares during the period. Hedge funds and other institutional investors own 53.12% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GOLF shares. Truist Financial lowered their price objective on Acushnet from $68.00 to $64.00 and set a "hold" rating for the company in a research note on Monday. KeyCorp decreased their price target on Acushnet from $77.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday. StockNews.com downgraded shares of Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. JPMorgan Chase & Co. downgraded shares of Acushnet from a "neutral" rating to an "underweight" rating and decreased their price objective for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. Finally, Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $77.00 to $80.00 in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Acushnet presently has an average rating of "Hold" and an average price target of $70.60.

Insiders Place Their Bets

In other Acushnet 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 completion of the transaction, the insider now owns 96,006 shares of the company's stock, valued at $6,802,985.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 54.60% of the company's stock.

Acushnet Stock Performance

Acushnet stock traded down $0.08 during midday trading on Thursday, hitting $59.21. The company's stock had a trading volume of 126,571 shares, compared to its average volume of 368,059. The company has a 50-day moving average price of $65.13 and a two-hundred day moving average price of $67.36. Acushnet Holdings Corp. has a 1-year low of $55.31 and a 1-year 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. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 20.14 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $454.83 million. As a group, sell-side analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.235 per share. This is a positive change from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, March 7th. Acushnet's dividend payout ratio (DPR) is presently 28.23%.

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.