Acushnet (NYSE:GOLF) Stock Holdings Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in Acushnet (NYSE:GOLF - Free Report) by 17.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 883,103 shares of the company's stock after selling 184,686 shares during the quarter. Victory Capital Management Inc. owned approximately 1.47% of Acushnet worth $60,634,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Acushnet during the 4th quarter valued at approximately $31,000. KBC Group NV acquired a new stake in shares of Acushnet in the first quarter worth $44,000. GAMMA Investing LLC boosted its position in shares of Acushnet by 96.1% in the first quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after buying an additional 319 shares during the period. Lazard Asset Management LLC acquired a new stake in Acushnet during the fourth quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Acushnet by 39.6% in the fourth 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 last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. KeyCorp reaffirmed an "overweight" rating and set a $80.00 price target (up from $75.00) on shares of Acushnet in a report on Friday, June 27th. Morgan Stanley lifted their price target on Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday. Truist Financial boosted their price target on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Finally, Compass Point cut 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 report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $72.50.

Insider Buying and Selling at Acushnet

In other Acushnet news, Director Holdings Corp. Misto sold 953,406 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the sale, the director owned 29,523,653 shares of the company's stock, valued at approximately $1,935,570,690.68. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 53.60% of the stock is currently owned by company insiders.

Acushnet Stock Performance

Shares of Acushnet stock traded up $0.26 on Monday, hitting $81.09. 149,300 shares of the company's stock were exchanged, compared to its average volume of 398,871. The stock has a market capitalization of $4.77 billion, a PE ratio of 22.48 and a beta of 0.84. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.21 and a current ratio of 2.21. The company has a 50-day simple moving average of $72.72 and a 200-day simple moving average of $68.51. Acushnet has a 1 year low of $55.31 and a 1 year high of $81.79.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share (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 during the quarter, compared to the consensus estimate of $697.82 million. During the same quarter last year, the firm earned $1.35 earnings per share. The firm's quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Acushnet will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.16%. Acushnet's dividend payout ratio is currently 26.11%.

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.