Bank of New York Mellon Corp lessened its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF – Free Report) by 3.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 298,716 shares of the company’s stock after selling 10,043 shares during the period. Bank of New York Mellon Corp owned 0.44% of Acushnet worth $16,334,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its holdings in Acushnet by 4.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 5,421 shares of the company’s stock worth $276,000 after acquiring an additional 244 shares during the period. Legal & General Group Plc grew its holdings in shares of Acushnet by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 28,263 shares of the company’s stock valued at $1,178,000 after buying an additional 257 shares during the period. LPL Financial LLC grew its holdings in shares of Acushnet by 4.8% in the 2nd quarter. LPL Financial LLC now owns 8,118 shares of the company’s stock valued at $338,000 after buying an additional 371 shares during the period. Captrust Financial Advisors grew its holdings in shares of Acushnet by 6.1% in the 1st quarter. Captrust Financial Advisors now owns 6,928 shares of the company’s stock valued at $279,000 after buying an additional 401 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Acushnet by 3.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,074 shares of the company’s stock valued at $513,000 after buying an additional 447 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on GOLF shares. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, October 30th. Truist Financial boosted their price objective on shares of Acushnet from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, August 4th. Morgan Stanley boosted their price objective on shares of Acushnet from $59.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, November 3rd. StockNews.com initiated coverage on shares of Acushnet in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group raised shares of Acushnet from a “hold” rating to a “buy” rating and boosted their price objective for the company from $61.00 to $84.00 in a research report on Monday, August 21st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Acushnet presently has an average rating of “Hold” and a consensus target price of $62.88.
Insiders Place Their Bets
In other news, Director Holdings Corp. Fila sold 1,824,994 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $54.80, for a total transaction of $100,009,671.20. Following the transaction, the director now directly owns 33,110,486 shares in the company, valued at approximately $1,814,454,632.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 54.10% of the company’s stock.
Acushnet Trading Up 1.1 %
Shares of NYSE:GOLF opened at $54.65 on Tuesday. The company’s 50-day moving average price is $53.88 and its two-hundred day moving average price is $53.21. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.21 and a quick ratio of 0.59. Acushnet Holdings Corp. has a one year low of $42.06 and a one year high of $61.98. The stock has a market capitalization of $3.57 billion, a PE ratio of 16.56 and a beta of 0.86.
Acushnet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.195 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.78 annualized dividend and a yield of 1.43%. Acushnet’s dividend payout ratio (DPR) is presently 23.64%.
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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