Bank of America Corp DE grew its position 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 & Exchange Commission. The institutional investor owned 135,518 shares of the company's stock after buying an additional 10,150 shares during the quarter. Bank of America Corp DE owned 0.22% of Acushnet worth $9,633,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in shares of Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after buying an additional 176 shares during the last quarter. Berry Wealth Group LP bought a new stake in Acushnet in the fourth quarter worth about $202,000. Leavell Investment Management Inc. purchased a new position in Acushnet in the fourth quarter valued at about $210,000. Corient Private Wealth LLC purchased a new position in Acushnet in the fourth quarter valued at about $210,000. Finally, Wedbush Securities Inc. bought a new position in shares of Acushnet during the 4th quarter valued at approximately $221,000. Hedge funds and other institutional investors own 53.12% of the company's stock.
Insider Transactions at Acushnet
In related news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction 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 sale, the insider now owns 96,006 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Insiders own 54.60% of the company's stock.
Acushnet Stock Performance
Shares of NYSE GOLF traded up $0.13 during midday trading on Thursday, hitting $68.45. The company's stock had a trading volume of 284,384 shares, compared to its average volume of 380,095. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 23.28 and a beta of 0.90. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The stock has a fifty day moving average price of $65.30 and a 200 day moving average price of $68.09. 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 issued its earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $697.82 million. During the same quarter in the previous year, the firm posted $1.35 EPS. The business's revenue for the quarter was down .6% compared to the same quarter last year. On average, research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.
Acushnet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a yield of 1.37%. Acushnet's dividend payout ratio (DPR) is 26.11%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. KeyCorp increased their price objective on Acushnet from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Truist Financial boosted 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. Finally, Compass Point cut Acushnet from a "buy" rating to a "neutral" rating and dropped their price target for the company from $80.00 to $71.00 in a research report on Monday, May 5th. One equities research 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, Acushnet currently has an average rating of "Hold" and a consensus target price of $70.00.
Read Our Latest Research Report on GOLF
About Acushnet
(
Free Report)
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.
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