Acushnet Holdings Corp. (NYSE:GOLF) Stock Holdings Boosted by Deutsche Bank AG

Deutsche Bank AG grew its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 52.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,955 shares of the company's stock after purchasing an additional 9,224 shares during the period. Deutsche Bank AG's holdings in Acushnet were worth $1,916,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GOLF. KeyCorp raised their target price 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 price objective on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Wall Street Zen lowered Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, Compass Point downgraded Acushnet from a "buy" rating to a "neutral" rating and lowered their price target for the company from $80.00 to $71.00 in a research report on Monday, May 5th. 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $70.00.

Acushnet Price Performance

Shares of NYSE GOLF traded up $0.13 during mid-day trading on Thursday, hitting $68.45. 284,384 shares of the company's stock traded hands, compared to its average volume of 380,095. 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 1 year low of $55.31 and a 1 year high of $76.65. The company's 50-day moving average is $65.30 and its two-hundred day moving average is $68.09. The company has a market capitalization of $4.02 billion, a P/E ratio of 23.28 and a beta of 0.90.

Acushnet (NYSE:GOLF - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.30. The business had revenue of $703.37 million for the quarter, compared to analyst estimates of $697.82 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business's revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.35 earnings per share. On average, equities analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.235 per share. The ex-dividend date is Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.37%. Acushnet's dividend payout ratio (DPR) is 26.11%.

Insider Activity

In related news, insider Steven Francis Pelisek sold 20,000 shares of the company's 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.