Lansdowne Partners UK LLP Reduces Position in Acushnet Holdings Corp. (NYSE:GOLF)

Lansdowne Partners UK LLP decreased its position in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 563,196 shares of the company's stock after selling 10,579 shares during the quarter. Acushnet accounts for about 2.9% of Lansdowne Partners UK LLP's investment portfolio, making the stock its 8th largest holding. Lansdowne Partners UK LLP owned approximately 0.93% of Acushnet worth $40,032,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GOLF. Principal Financial Group Inc. grew its holdings in Acushnet by 6.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company's stock valued at $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 during the third quarter valued at about $508,000. Sei Investments Co. increased its position in shares of Acushnet by 4.3% during the fourth quarter. Sei Investments Co. now owns 102,137 shares of the company's stock worth $7,260,000 after acquiring an additional 4,256 shares during the last quarter. Atria Investments Inc lifted its stake in shares of Acushnet by 35.0% in the fourth quarter. Atria Investments Inc now owns 31,890 shares of the company's stock worth $2,267,000 after acquiring an additional 8,268 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Acushnet by 361.5% in the third quarter. Barclays PLC now owns 48,563 shares of the company's stock valued at $3,096,000 after purchasing an additional 38,041 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Wall Street Analysts Forecast Growth

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

Acushnet Stock Performance

Shares of NYSE:GOLF traded up $0.34 during trading on Thursday, hitting $59.63. 388,479 shares of the company traded hands, compared to its average volume of 369,030. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 20.28 and a beta of 0.84. Acushnet Holdings Corp. has a one year low of $55.31 and a one year high of $76.65. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The business's fifty day moving average is $65.13 and its 200-day moving average is $67.36.

Acushnet (NYSE:GOLF - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) 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 analysts' expectations of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. As a group, equities analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.235 dividend. This is a boost from Acushnet's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.94 annualized dividend and a yield of 1.58%. Acushnet's dividend payout ratio is 28.23%.

Insider Buying and Selling at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the firm's stock in a transaction on 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 transaction, the insider now directly owns 96,006 shares of the company's stock, valued at approximately $6,802,985.16. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 54.60% of the stock is owned by company insiders.

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.