Bank of America Corp DE Acquires 10,150 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Bank of America Corp DE increased its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,518 shares of the company's stock after buying an additional 10,150 shares during the period. Bank of America Corp DE owned about 0.22% of Acushnet worth $9,633,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in Acushnet by 4.3% during the 4th quarter. Sei Investments Co. now owns 102,137 shares of the company's stock worth $7,260,000 after buying an additional 4,256 shares during the period. Principal Financial Group Inc. raised 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 during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Acushnet by 93.1% in the fourth quarter. Renaissance Technologies LLC now owns 19,693 shares of the company's stock worth $1,400,000 after acquiring an additional 9,493 shares during the period. Atria Investments Inc boosted its holdings in Acushnet by 35.0% in the fourth quarter. Atria Investments Inc now owns 31,890 shares of the company's stock valued at $2,267,000 after acquiring an additional 8,268 shares during 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 acquiring an additional 38,041 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on GOLF shares. Truist Financial raised their price target on shares of Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. KeyCorp increased their price objective on shares of Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, May 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 report on Monday, May 5th. Finally, Wall Street Zen cut shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $70.00.

Insider Activity at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction that occurred on 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 owns 96,006 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 54.60% of the stock is currently owned by corporate insiders.

Acushnet Trading Up 3.2%

Shares of GOLF stock traded up $2.19 during trading hours on Tuesday, hitting $70.54. 488,761 shares of the company were exchanged, compared to its average volume of 379,776. The company has a 50 day simple moving average of $65.15 and a two-hundred day simple moving average of $68.10. The firm has a market cap of $4.15 billion, a P/E ratio of 23.99 and a beta of 0.90. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet Holdings Corp. has a fifty-two week low of $55.31 and a fifty-two week high of $76.65.

Acushnet (NYSE:GOLF - Get Free Report) last issued its 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 business had revenue of $703.37 million for the quarter, compared to analyst estimates of $697.82 million. During the same period in the prior year, the firm earned $1.35 earnings per share. Acushnet's revenue was down .6% on a year-over-year basis. Equities analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.235 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.94 annualized dividend and a dividend yield of 1.33%. Acushnet's dividend payout ratio is presently 26.11%.

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.