Envestnet Asset Management Inc. Acquires 29,367 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Envestnet Asset Management Inc. lifted its holdings in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 14.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 229,169 shares of the company's stock after purchasing an additional 29,367 shares during the period. Envestnet Asset Management Inc. owned about 0.38% of Acushnet worth $16,289,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOLF. JPMorgan Chase & Co. raised its position in 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 during the period. Principal Financial Group Inc. raised its holdings in Acushnet by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company's stock worth $72,783,000 after purchasing an additional 10,166 shares during the period. Raymond James Financial Inc. purchased a new position in Acushnet during the fourth quarter valued at $62,713,000. Charles Schwab Investment Management Inc. grew its holdings in Acushnet by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,744 shares of the company's stock valued at $25,713,000 after purchasing an additional 2,793 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Acushnet by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 271,995 shares of the company's stock worth $19,333,000 after buying an additional 18,036 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Insider Activity

In related news, insider Steven Francis Pelisek sold 20,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the transaction, the insider now owns 96,006 shares of the company's stock, valued at approximately $6,802,985.16. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. KeyCorp decreased their price target on Acushnet from $77.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday. Truist Financial decreased their price objective on Acushnet from $68.00 to $64.00 and set a "hold" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. cut Acushnet from a "neutral" rating to an "underweight" rating and reduced their price target for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and lifted their target price for the company from $77.00 to $80.00 in a research report on Tuesday, March 4th. Finally, StockNews.com lowered shares of Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Acushnet has a consensus rating of "Hold" and a consensus price target of $70.60.

Acushnet Stock Performance

Shares of GOLF traded up $0.34 during midday trading on Friday, reaching $59.63. 388,479 shares of the stock were exchanged, compared to its average volume of 369,839. 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 Holdings Corp. has a twelve month low of $55.31 and a twelve month high of $76.65. The business's 50-day moving average price is $64.86 and its 200 day moving average price is $67.38. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 20.28 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.31. The company had revenue of $445.17 billion for the quarter, compared to analyst estimates 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 expect that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.235 dividend. The ex-dividend date was Friday, March 7th. This is a boost from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 1.58%. Acushnet's dividend payout ratio (DPR) is 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.