Petros Family Wealth LLC Takes Position in Acushnet Holdings Corp. (NYSE:GOLF)

Petros Family Wealth LLC purchased a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,076 shares of the company's stock, valued at approximately $290,000.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in Acushnet by 100.6% during the fourth quarter. Blue Trust Inc. now owns 351 shares of the company's stock valued at $25,000 after buying an additional 176 shares in the last quarter. Berry Wealth Group LP acquired a new stake in Acushnet in the 4th quarter valued at $202,000. Heritage Family Offices LLP purchased a new position in Acushnet in the fourth quarter valued at about $205,000. Leavell Investment Management Inc. acquired a new position in shares of Acushnet during the fourth quarter worth about $210,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of Acushnet in the fourth quarter worth about $210,000. Institutional investors and hedge funds own 53.12% of the company's stock.

Insider Activity at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the transaction, the insider now owns 96,006 shares in the company, valued at approximately $6,802,985.16. This represents a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 54.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GOLF. KeyCorp reduced their price target on Acushnet from $77.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. downgraded shares of Acushnet from a "neutral" rating to an "underweight" rating and dropped their price target for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. Truist Financial decreased their price objective on shares of Acushnet from $68.00 to $64.00 and set a "hold" rating for the company in a research report on Monday. Compass Point upgraded Acushnet from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $77.00 to $80.00 in a research note on Tuesday, March 4th. Finally, StockNews.com downgraded Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $70.60.

Acushnet Stock Performance

Shares of NYSE GOLF traded down $0.09 during trading on Thursday, reaching $59.20. The stock had a trading volume of 135,998 shares, compared to its average volume of 553,534. The firm's 50 day moving average price is $65.13 and its two-hundred day moving average price is $67.36. Acushnet Holdings Corp. has a one year low of $55.31 and a one year high of $76.65. The stock has a market cap of $3.55 billion, a PE ratio of 20.14 and a beta of 0.84. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10.

Acushnet (NYSE:GOLF - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $445.17 billion for the quarter, compared to analysts' expectations of $454.83 million. On average, research analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.59%. Acushnet's dividend payout ratio is 28.23%.

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.