Northern Trust Corp Purchases 28,314 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Northern Trust Corp lifted its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 354,169 shares of the company's stock after purchasing an additional 28,314 shares during the quarter. Northern Trust Corp owned 0.58% of Acushnet worth $25,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Acushnet by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company's stock worth $107,097,000 after buying an additional 5,661 shares during the period. JPMorgan Chase & Co. raised its holdings in Acushnet by 5.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company's stock worth $76,654,000 after buying an additional 54,314 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Acushnet by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company's stock worth $72,783,000 after buying an additional 10,166 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Acushnet during the fourth quarter worth $62,713,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Acushnet in the fourth quarter valued at about $28,641,000. 53.12% of the stock is owned by institutional investors.

Acushnet Stock Down 0.5%

Shares of NYSE GOLF opened at $67.78 on Monday. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a 12 month low of $55.31 and a 12 month high of $76.65. The firm has a market capitalization of $4.07 billion, a PE ratio of 23.05 and a beta of 0.90. The firm has a fifty day simple moving average of $64.46 and a two-hundred day simple moving average of $67.59.

Acushnet (NYSE:GOLF - Get Free Report) last issued 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. The business had revenue of $703.37 million during the quarter, compared to analyst estimates of $697.82 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.35 EPS. Equities analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.94 annualized dividend and a dividend yield of 1.39%. Acushnet's payout ratio is 26.11%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Compass Point downgraded shares of Acushnet from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $80.00 to $71.00 in a report on Monday, May 5th. KeyCorp raised their price objective on shares of Acushnet from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Thursday. Truist Financial lifted their target price on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday. StockNews.com lowered shares of Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, JPMorgan Chase & Co. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Acushnet presently has a consensus rating of "Hold" and an average price target of $70.00.

Insider Activity at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the sale, the insider now owns 96,006 shares of the company's stock, valued at $6,802,985.16. This trade represents a 17.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 54.60% of the stock is currently owned by insiders.

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.

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