6 days Ago By ABMN Staff
Geode Capital Management LLC cut its stake in shares of Acushnet Holdings Corp. ( NYSE:GOLF – Free Report ) by 2.1% in the fourth quarter, according to its most recent disclosure with the SEC.
The firm owned 636,354 shares of the company’s stock after selling 13,346 shares during the period. Geode Capital Management LLC owned about 1.05% of Acushnet worth $45,242,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOLF. Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 176 shares during the last quarter.
Berry Wealth Group LP purchased a new stake in shares of Acushnet during the fourth quarter worth $202,000. Heritage Family Offices LLP acquired a new stake in shares of Acushnet in the fourth quarter valued at about $205,000. Leavell Investment Management Inc.
purchased a new position in shares of Acushnet in the fourth quarter worth about $210,000. Finally, Corient Private Wealth LLC acquired a new position in Acushnet during the fourth quarter worth about $210,000. 53.
12% of the stock is owned by hedge funds and other institutional investors. Wall Street Analysts Forecast Growth GOLF has been the subject of a number of recent research reports. Truist Financial cut their price objective on shares of Acushnet from $68.
00 to $64.00 and set a “hold” rating for the company in a report on Monday. JPMorgan Chase & Co.
lowered 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 research note on Thursday, January 23rd.
StockNews.com downgraded Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. KeyCorp lowered their price target on shares of Acushnet from $80.
00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $77.
00 to $80.00 in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company.
According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $72.00. Acushnet Stock Performance Shares of Acushnet stock opened at $61.
73 on Tuesday. The firm has a market cap of $3.70 billion, a PE ratio of 21.
00 and a beta of 0.84. The company has a quick ratio of 1.
14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79.
Acushnet Holdings Corp. has a 52 week low of $55.31 and a 52 week high of $76.
65. The business’s fifty day simple moving average is $65.34 and its 200-day simple moving average is $67.
47. Acushnet ( NYSE:GOLF – Get Free Report ) last announced its earnings results on Thursday, February 27th. The company reported ($0.
02) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.31.
The company had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million.
Acushnet had a net margin of 7.78% and a return on equity of 21.45%.
Equities analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.
Acushnet Increases Dividend The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $0.235 per share.
This represents a $0.94 dividend on an annualized basis and a yield of 1.52%.
This is a boost from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 7th.
Acushnet’s dividend payout ratio is 28.23%. Insider Transactions at Acushnet In related news, insider Steven Francis Pelisek sold 20,000 shares of Acushnet stock in a transaction that occurred on 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. The trade was a 17.
24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink . Company insiders own 54.
60% of the company’s stock. About Acushnet ( Free Report ) 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. See Also Want to see what other hedge funds are holding GOLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acushnet Holdings Corp.
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