Acushnet Holdings Corp. (NYSE:GOLF) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 14.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 229,169 shares of the company’s stock after purchasing an additional 29,367 shares during the quarter. Envestnet Asset Management Inc. owned 0.38% of Acushnet worth $16,289,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research firms recently weighed in on GOLF. Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and upped their price target for the stock from $77.00 to $80.00 in a research report on Tuesday, March 4th. KeyCorp reduced their target price on Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Truist Financial lowered their price target on Acushnet from $68.00 to $64.00 and set a “hold” rating on the stock in a research note on Monday. JPMorgan Chase & Co. cut 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 report on Thursday, January 23rd. Finally, StockNews.com lowered 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 issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $72.00.

Insider Activity

In related news, insider Steven Francis Pelisek sold 20,000 shares of the business’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 sale, the insider now directly owns 96,006 shares in the company, valued at approximately $6,802,985.16. The trade was a 17.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 54.60% of the company’s stock.

Acushnet Stock Performance

Shares of Acushnet stock opened at $60.54 on Wednesday. The business’s 50 day moving average price is $65.23 and its 200 day moving average price is $67.42. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 20.59 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 Holdings Corp. has a one year low of $55.31 and a one year high of $76.65.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. On average, research analysts predict that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The company also recently declared 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 was Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.55%. This is an increase from Acushnet’s previous quarterly dividend of $0.22. Acushnet’s dividend payout ratio (DPR) is currently 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.