SG Americas Securities LLC Raises Position in Acushnet (NYSE:GOLF)

SG Americas Securities LLC grew its holdings in Acushnet (NYSE:GOLF - Free Report) by 783.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 17,391 shares of the company's stock after buying an additional 15,422 shares during the quarter. SG Americas Securities LLC's holdings in Acushnet were worth $1,194,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Acushnet in the fourth quarter worth $62,713,000. Lord Abbett & CO. LLC purchased a new stake in shares of Acushnet in the 4th quarter worth about $28,641,000. Norges Bank purchased a new stake in shares of Acushnet in the 4th quarter worth about $14,825,000. 12th Street Asset Management Company LLC boosted its stake in shares of Acushnet by 170.1% during the 4th quarter. 12th Street Asset Management Company LLC now owns 120,883 shares of the company's stock valued at $8,592,000 after purchasing an additional 76,126 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Acushnet by 5.3% during the fourth 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 during the period. Hedge funds and other institutional investors own 53.12% of the company's stock.

Acushnet Stock Up 0.9%

NYSE:GOLF traded up $0.63 during mid-day trading on Wednesday, hitting $71.45. 625,558 shares of the company's stock were exchanged, compared to its average volume of 388,928. Acushnet has a one year low of $55.31 and a one year high of $76.65. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.21 and a quick ratio of 1.21. The business has a fifty day moving average price of $67.37 and a 200 day moving average price of $68.09. The company has a market cap of $4.20 billion, a PE ratio of 19.67 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.32 by $0.30. Acushnet had a net margin of 9.21% and a return on equity of 26.81%. The business had revenue of $703.37 million for the quarter, compared to analyst estimates of $697.82 million. During the same quarter in the previous year, the firm posted $1.35 earnings per share. Acushnet's quarterly revenue was down .6% on a year-over-year basis. Equities analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, June 6th. Acushnet's payout ratio is currently 26.11%.

Analyst Ratings Changes

Several brokerages have commented on GOLF. Wall Street Zen lowered shares of Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Truist Financial increased their target price on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. KeyCorp increased their target price on Acushnet from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Finally, Compass Point lowered Acushnet from a "buy" rating to a "neutral" rating and decreased their target price for the stock 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 assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $70.00.

About Acushnet

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.