Voya Investment Management LLC Sells 5,723 Shares of Acushnet $GOLF

Key Points

• Voya Investment Management LLC has reduced its stake in Acushnet by 1.9%, holding approximately $20.02 million worth of shares after selling 5,723 shares.
• Analysts have mixed ratings on Acushnet, with one Buy, five Hold, and one Sell rating, and an average target price of $73.33.
• Acushnet announced a quarterly dividend of $0.235 per share, to be paid on September 19th, representing an annualized yield of 1.3%.

Voya Investment Management LLC trimmed its holdings in Acushnet (NYSE:GOLF - Free Report) by 1.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 291,642 shares of the company's stock after selling 5,723 shares during the quarter. Voya Investment Management LLC owned about 0.50% of Acushnet worth $20,024,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in shares of Acushnet in the fourth quarter valued at about $31,000. KBC Group NV bought a new stake in Acushnet during the 1st quarter worth about $44,000. GAMMA Investing LLC raised its holdings in Acushnet by 96.1% during the 1st quarter. GAMMA Investing LLC now owns 651 shares of the company's stock worth $45,000 after purchasing an additional 319 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Acushnet during the 4th quarter worth about $51,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in Acushnet by 39.6% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company's stock worth $58,000 after purchasing an additional 232 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Stock Performance

Shares of GOLF stock traded down $1.04 on Friday, hitting $74.55. 560,416 shares of the stock were exchanged, compared to its average volume of 336,233. The company has a current ratio of 2.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $4.37 billion, a PE ratio of 19.93 and a beta of 0.90. Acushnet has a one year low of $55.31 and a one year high of $84.40. The firm's 50 day moving average is $77.99 and its two-hundred day moving average is $71.47.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.08). The firm had revenue of $720.48 million for the quarter, compared to the consensus estimate of $713.70 million. Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The firm's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. Sell-side analysts expect that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.235 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.94 annualized dividend and a yield of 1.3%. Acushnet's dividend payout ratio (DPR) is currently 25.13%.

Analyst Upgrades and Downgrades

GOLF has been the subject of several analyst reports. KeyCorp boosted their target price on Acushnet from $80.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Zacks Research lowered Acushnet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Morgan Stanley upped their price objective on Acushnet from $63.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Acushnet currently has a consensus rating of "Hold" and a consensus price target of $73.00.

Insider Transactions at Acushnet

In other Acushnet news, Director Holdings Corp. Misto sold 953,406 shares of Acushnet stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $65.56, for a total transaction of $62,505,297.36. Following the completion of the transaction, the director owned 29,523,653 shares of the company's stock, valued at $1,935,570,690.68. The trade was a 3.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mary Louise Bohn sold 13,190 shares of Acushnet stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $78.85, for a total value of $1,040,031.50. Following the transaction, the insider directly owned 191,786 shares of the company's stock, valued at $15,122,326.10. The trade was a 6.43% decrease in their position. The disclosure for this sale can be found here. 53.60% of the stock is owned by insiders.

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.