Acushnet Holdings Corp. (NYSE:GOLF) Shares Acquired by Barclays PLC

Barclays PLC raised its position in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 34.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 65,252 shares of the company's stock after purchasing an additional 16,689 shares during the period. Barclays PLC owned 0.11% of Acushnet worth $4,638,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Petros Family Wealth LLC purchased a new position in shares of Acushnet during the 4th quarter worth $290,000. Argent Trust Co acquired a new stake in Acushnet in the fourth quarter valued at $246,000. Kennedy Capital Management LLC lifted its stake in Acushnet by 71.1% during the fourth quarter. Kennedy Capital Management LLC now owns 98,199 shares of the company's stock worth $6,980,000 after purchasing an additional 40,791 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Acushnet by 93.1% during the 4th quarter. Renaissance Technologies LLC now owns 19,693 shares of the company's stock worth $1,400,000 after buying an additional 9,493 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in 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 acquiring an additional 621 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com lowered Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. JPMorgan Chase & Co. downgraded Acushnet from a "neutral" rating to an "underweight" rating and dropped their price objective for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Compass Point raised 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. KeyCorp reduced their target price on shares of Acushnet from $77.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Truist Financial cut their price target on Acushnet from $68.00 to $64.00 and set a "hold" rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $70.60.

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 96,006 shares of the company's stock, valued at $6,802,985.16. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 54.60% of the stock is currently owned by company insiders.

Acushnet Stock Down 0.6 %

NYSE GOLF traded down $0.40 during trading hours on Friday, hitting $65.41. The company had a trading volume of 78,581 shares, compared to its average volume of 369,205. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 22.27 and a beta of 0.84. 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 fifty-two week low of $55.31 and a fifty-two week high of $76.65. The firm's 50 day moving average is $64.26 and its 200 day moving average is $67.33.

Acushnet (NYSE:GOLF - Get Free Report) last posted 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. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $445.17 billion during the quarter, compared to analysts' expectations of $454.83 million. Sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $0.235 per share. The ex-dividend date was Friday, March 7th. This represents a $0.94 annualized dividend and a yield of 1.44%. This is a boost from Acushnet's previous quarterly dividend of $0.22. Acushnet's dividend payout ratio is presently 28.23%.

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.