Deutsche Bank AG Grows Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Deutsche Bank AG increased its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 52.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,955 shares of the company’s stock after buying an additional 9,224 shares during the quarter. Deutsche Bank AG’s holdings in Acushnet were worth $1,916,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GOLF. Blue Trust Inc. grew 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 purchasing an additional 176 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Acushnet by 1.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company’s stock worth $953,000 after purchasing an additional 217 shares during the period. Semanteon Capital Management LP grew its stake in shares of Acushnet by 3.0% during the 4th quarter. Semanteon Capital Management LP now owns 9,659 shares of the company’s stock worth $687,000 after purchasing an additional 281 shares during the period. Robertson Stephens Wealth Management LLC grew its stake in shares of Acushnet by 8.4% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 4,196 shares of the company’s stock worth $298,000 after purchasing an additional 326 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Acushnet by 1.7% during the 4th quarter. Legal & General Group Plc now owns 38,124 shares of the company’s stock worth $2,710,000 after purchasing an additional 621 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analyst Ratings Changes

GOLF has been the subject of several analyst reports. Wall Street Zen downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. KeyCorp upped their price target on Acushnet from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Truist Financial boosted their price objective on Acushnet from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, May 8th. Finally, Compass Point cut shares of Acushnet from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $70.00.

Acushnet Price Performance

NYSE GOLF opened at $68.24 on Friday. 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 1 year low of $55.31 and a 1 year high of $76.65. The stock has a market capitalization of $4.01 billion, a P/E ratio of 23.21 and a beta of 0.90. The business’s fifty day moving average is $65.13 and its two-hundred day moving average is $68.11.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.30. The business had revenue of $703.37 million for the quarter, compared to the consensus estimate of $697.82 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Acushnet’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.35 EPS. On average, research analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.235 per share. The ex-dividend date is Friday, June 6th. This represents a $0.94 annualized dividend and a yield of 1.38%. Acushnet’s dividend payout ratio is 26.11%.

Insider Activity

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the sale, the insider now directly owns 96,006 shares in the company, valued at $6,802,985.16. This represents a 17.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 54.60% of the company’s stock.

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.