D. E. Shaw & Co. Inc. Boosts Stake in Acushnet Holdings Corp. (NYSE:GOLF)

D. E. Shaw & Co. Inc. raised its holdings in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 40.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 168,822 shares of the company's stock after acquiring an additional 48,553 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.28% of Acushnet worth $12,000,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Acushnet by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company's stock valued at $107,097,000 after purchasing an additional 5,661 shares during the period. JPMorgan Chase & Co. grew its stake in Acushnet by 5.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company's stock valued at $76,654,000 after buying an additional 54,314 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Acushnet by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company's stock worth $72,783,000 after acquiring an additional 10,166 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Acushnet in the fourth quarter worth $62,713,000. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Acushnet in the fourth quarter valued at $28,641,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GOLF. JPMorgan Chase & Co. cut shares of Acushnet from a "neutral" rating to an "underweight" rating and reduced their price objective for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. KeyCorp upped their target price on Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. StockNews.com cut shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Compass Point lowered shares of Acushnet from a "buy" rating to a "neutral" rating and dropped their target price for the company from $80.00 to $71.00 in a research report on Monday, May 5th. Finally, Truist Financial increased their target price on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $70.00.

Acushnet Stock Down 0.5%

NYSE:GOLF traded down $0.39 during mid-day trading on Monday, hitting $71.69. 33,370 shares of the company's stock were exchanged, compared to its average volume of 375,687. The business has a fifty day moving average price of $64.70 and a 200 day moving average price of $67.93. 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 $4.21 billion, a PE ratio of 24.39 and a beta of 0.90. Acushnet Holdings Corp. has a one year low of $55.31 and a one year high of $76.65.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, beating 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 firm had revenue of $703.37 million during the quarter, compared to analysts' expectations of $697.82 million. During the same period in the previous year, the company earned $1.35 earnings per share. The firm's quarterly revenue was down .6% on a year-over-year basis. Equities analysts predict that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.235 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a yield of 1.31%. Acushnet's dividend payout ratio is currently 26.11%.

Insider Activity at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the transaction, the insider now directly owns 96,006 shares in the company, valued at $6,802,985.16. The trade was a 17.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.