Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 26.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,228,718 shares of the company's stock after selling 432,635 shares during the period. Wellington Management Group LLP owned approximately 2.05% of Acushnet worth $87,337,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Sei Investments Co. boosted its position in Acushnet by 4.3% in the fourth quarter. Sei Investments Co. now owns 102,137 shares of the company's stock worth $7,260,000 after purchasing an additional 4,256 shares during the last quarter. Principal Financial Group Inc. boosted its position in Acushnet by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company's stock worth $72,783,000 after purchasing an additional 10,166 shares during the last quarter. Renaissance Technologies LLC boosted its position in Acushnet by 93.1% in the fourth quarter. Renaissance Technologies LLC now owns 19,693 shares of the company's stock worth $1,400,000 after purchasing an additional 9,493 shares during the last quarter. Atria Investments Inc lifted its position in shares of Acushnet by 35.0% during the 4th quarter. Atria Investments Inc now owns 31,890 shares of the company's stock valued at $2,267,000 after buying an additional 8,268 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Acushnet by 361.5% during the 3rd quarter. Barclays PLC now owns 48,563 shares of the company's stock valued at $3,096,000 after buying an additional 38,041 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on GOLF shares. KeyCorp lifted their target price on Acushnet from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Truist Financial boosted their target price on Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. Wall Street Zen cut Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, Compass Point cut Acushnet from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $80.00 to $71.00 in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $70.00.

Insider Activity

In other news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $6,802,985.16. This represents a 17.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 54.60% of the company's stock.

Acushnet Stock Down 0.2%

Acushnet stock traded down $0.15 during midday trading on Friday, reaching $68.32. The company's stock had a trading volume of 443,605 shares, compared to its average volume of 381,049. The stock's 50-day simple moving average is $65.32 and its 200-day simple moving average is $68.07. 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 52-week low of $55.31 and a 52-week high of $76.65. The stock has a market capitalization of $4.01 billion, a P/E ratio of 23.24 and a beta of 0.90.

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

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, June 6th. Acushnet's dividend payout ratio is presently 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.