Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 30.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 462,173 shares of the company's stock after selling 203,996 shares during the quarter. Ameriprise Financial Inc. owned 0.76% of Acushnet worth $32,851,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Acushnet by 361.5% in the 3rd 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 in the last quarter. Franklin Resources Inc. increased its holdings in shares of Acushnet by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 22,831 shares of the company's stock valued at $1,455,000 after purchasing an additional 548 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Acushnet in the 4th quarter valued at about $239,000. Heritage Family Offices LLP purchased a new position in shares of Acushnet in the 4th quarter valued at about $205,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Acushnet by 34.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,662 shares of the company's stock valued at $331,000 after purchasing an additional 1,187 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Acushnet Trading Down 0.2%

Shares of Acushnet stock traded down $0.18 during mid-day trading on Monday, hitting $71.90. 274,277 shares of the stock were exchanged, compared to its average volume of 376,619. Acushnet Holdings Corp. has a twelve month low of $55.31 and a twelve month high of $76.65. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 24.46 and a beta of 0.90. The company has a 50-day simple moving average of $64.80 and a 200 day simple moving average of $68.00. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.30. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $703.37 million for the quarter, compared to analysts' expectations of $697.82 million. During the same period last year, the company earned $1.35 EPS. The firm's revenue for the quarter was down .6% compared to the same quarter last year. Research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid 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 dividend yield of 1.31%. Acushnet's dividend payout ratio is currently 26.11%.

Insider Buying and Selling

In related news, insider Steven Francis Pelisek sold 20,000 shares of the firm'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 value of $1,417,200.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

GOLF has been the subject of a number of research analyst reports. Compass Point downgraded shares of Acushnet from a "buy" rating to a "neutral" rating and cut their price target for the company from $80.00 to $71.00 in a report on Monday, May 5th. Truist Financial raised their target price on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a report on Thursday, May 8th. StockNews.com downgraded shares of Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. KeyCorp raised their target price on shares of Acushnet from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. downgraded shares of 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $70.00.

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.