Thornburg Investment Management Inc. Raises Stake in Acushnet Holdings Corp. (NYSE:GOLF)

Thornburg Investment Management Inc. grew its position in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 20.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 153,436 shares of the company's stock after buying an additional 25,920 shares during the period. Thornburg Investment Management Inc. owned 0.25% of Acushnet worth $10,906,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Acushnet by 100.6% in the fourth 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. Lazard Asset Management LLC purchased a new position in shares of Acushnet in the fourth quarter worth about $51,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in Acushnet by 39.6% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock worth $58,000 after buying an additional 232 shares during the period. Berry Wealth Group LP purchased a new stake in Acushnet in the fourth quarter valued at $202,000. Finally, Hyperion Capital Advisors LP acquired a new position in shares of Acushnet during the 4th quarter worth approximately $206,000. Institutional investors own 53.12% of the company's stock.

Acushnet Stock Down 1.2%

Shares of NYSE:GOLF traded down $0.82 during trading on Friday, hitting $68.17. 102,647 shares of the company were exchanged, compared to its average volume of 376,885. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The firm's 50 day moving average price is $65.08 and its 200-day moving average price is $68.08. The stock has a market capitalization of $4.01 billion, a P/E ratio of 23.15 and a beta of 0.90. Acushnet Holdings Corp. has a 12-month low of $55.31 and a 12-month high of $76.65.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.30. The firm 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%. Acushnet's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.35 earnings per share. On average, research analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

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 paid a $0.235 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a yield of 1.38%. Acushnet's dividend payout ratio is presently 26.11%.

Insider Activity

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet 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 sale, the insider now owns 96,006 shares of the company's stock, valued at approximately $6,802,985.16. The trade was a 17.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 54.60% of the company's stock.

Analyst Ratings Changes

GOLF has been the subject of a number of research reports. Truist Financial boosted their target price on shares of Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Compass Point cut 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. KeyCorp lifted their target price on Acushnet from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. lowered Acushnet from a "neutral" rating to an "underweight" rating and cut their target price for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. Finally, Wall Street Zen downgraded 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $70.00.

Acushnet 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.