Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its stake in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 61.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,068 shares of the company's stock after selling 11,368 shares during the quarter. BNP Paribas Financial Markets' holdings in Acushnet were worth $502,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GOLF. Barclays PLC lifted its stake 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 during the period. Blue Trust Inc. increased its holdings in Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company's stock valued at $25,000 after buying an additional 176 shares in the last quarter. Berry Wealth Group LP acquired a new position in shares of Acushnet in the fourth quarter worth about $202,000. Robertson Stephens Wealth Management LLC raised its holdings in Acushnet by 8.4% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 4,196 shares of the company's stock worth $298,000 after purchasing an additional 326 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in Acushnet during the fourth quarter worth approximately $1,273,000. Hedge funds and other institutional investors own 53.12% of the company's stock.

Acushnet Price Performance

GOLF stock traded up $0.13 during midday trading on Thursday, reaching $68.45. The stock had a trading volume of 284,384 shares, compared to its average volume of 380,095. The company's fifty day simple moving average is $65.30 and its 200 day simple moving average is $68.09. 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 company has a market cap of $4.02 billion, a price-to-earnings ratio of 23.28 and a beta of 0.90. Acushnet Holdings Corp. has a 52-week low of $55.31 and a 52-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 EPS for the quarter, beating analysts' consensus estimates of $1.32 by $0.30. The business had revenue of $703.37 million during the quarter, compared to analysts' expectations of $697.82 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.35 earnings per share. As a group, sell-side analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.235 dividend. 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 payout ratio is 26.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. 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. Truist Financial boosted 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. Compass Point cut shares of Acushnet from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. Finally, Wall Street Zen lowered shares of Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $70.00.

Insiders Place Their Bets

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the company's 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 completion of the sale, the insider now directly owns 96,006 shares in the company, valued at $6,802,985.16. This represents a 17.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 54.60% of the company's stock.

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.