JPMorgan Chase & Co. Has $96.19 Million Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

JPMorgan Chase & Co. boosted its position in Acushnet Holdings Corp. (NYSE:GOLFGet Rating) by 6.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,307,902 shares of the company’s stock after buying an additional 133,079 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.24% of Acushnet worth $96,194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Walleye Capital LLC acquired a new stake in Acushnet in the 2nd quarter worth $317,000. Landscape Capital Management L.L.C. grew its position in Acushnet by 167.4% in the 2nd quarter. Landscape Capital Management L.L.C. now owns 33,389 shares of the company’s stock worth $1,392,000 after purchasing an additional 20,903 shares during the last quarter. M&T Bank Corp grew its position in Acushnet by 29.3% in the 2nd quarter. M&T Bank Corp now owns 33,039 shares of the company’s stock worth $1,377,000 after purchasing an additional 7,486 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its position in Acushnet by 25.9% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 55,663 shares of the company’s stock worth $2,320,000 after purchasing an additional 11,437 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Acushnet by 153.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 710 shares of the company’s stock worth $30,000 after purchasing an additional 430 shares during the last quarter. 49.33% of the stock is currently owned by institutional investors and hedge funds.

Acushnet Trading Down 0.4 %

Shares of NYSE GOLF opened at $44.56 on Wednesday. Acushnet Holdings Corp. has a 1-year low of $37.46 and a 1-year high of $56.84. The company has a 50-day moving average of $45.50 and a two-hundred day moving average of $45.27. The company has a current ratio of 2.17, a quick ratio of 1.10 and a debt-to-equity ratio of 0.39. The company has a market cap of $3.13 billion, a PE ratio of 18.80 and a beta of 0.77.

Acushnet (NYSE:GOLFGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.59 by $0.13. Acushnet had a net margin of 7.80% and a return on equity of 16.12%. The company had revenue of $558.20 million during the quarter, compared to analysts’ expectations of $517.42 million. During the same quarter in the previous year, the company earned $0.52 EPS. Acushnet’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts expect that Acushnet Holdings Corp. will post 2.72 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, December 1st. Acushnet’s dividend payout ratio is currently 30.38%.

Insider Activity at Acushnet

In related news, insider Steven Francis Pelisek sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $44.00, for a total transaction of $30,800.00. Following the completion of the transaction, the insider now owns 132,408 shares in the company, valued at $5,825,952. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 53.00% of the company’s stock.

Wall Street Analyst Weigh In

GOLF has been the subject of a number of analyst reports. Roth Capital downgraded shares of Acushnet from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $62.00 to $45.00 in a report on Tuesday, October 18th. Tigress Financial assumed coverage on shares of Acushnet in a report on Friday, September 16th. They set a “neutral” rating and a $50.00 price target for the company. Morgan Stanley cut their price target on shares of Acushnet from $52.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, November 7th. JPMorgan Chase & Co. cut their price target on shares of Acushnet from $50.00 to $47.00 in a report on Wednesday, October 26th. Finally, Truist Financial cut their price target on shares of Acushnet from $50.00 to $48.00 and set a “hold” rating for the company in a report on Wednesday, October 5th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.14.

Acushnet Profile

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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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Institutional Ownership by Quarter for Acushnet (NYSE:GOLF)

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