Charles Schwab Investment Management Inc. Has $22.88 Million Position in Acushnet Holdings Corp. (NYSE:GOLF)

Charles Schwab Investment Management Inc. reduced its position in Acushnet Holdings Corp. (NYSE:GOLF) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 358,951 shares of the company’s stock after selling 4,000 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Acushnet were worth $22,883,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of Acushnet by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,527 shares of the company’s stock valued at $1,354,000 after acquiring an additional 933 shares in the last quarter. Comerica Bank raised its position in shares of Acushnet by 3.7% in the first quarter. Comerica Bank now owns 25,529 shares of the company’s stock valued at $1,684,000 after purchasing an additional 910 shares during the period. SG Americas Securities LLC lifted its holdings in Acushnet by 74.3% during the 2nd quarter. SG Americas Securities LLC now owns 8,414 shares of the company’s stock worth $534,000 after purchasing an additional 3,587 shares in the last quarter. Curated Wealth Partners LLC boosted its stake in Acushnet by 175.5% in the 2nd quarter. Curated Wealth Partners LLC now owns 7,908 shares of the company’s stock worth $502,000 after purchasing an additional 18,388 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Acushnet by 8.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,478 shares of the company’s stock worth $221,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Truist Financial increased their price target on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Acushnet has an average rating of “Hold” and an average target price of $71.40.

Acushnet Stock Down 0.5 %

Shares of Acushnet stock opened at $74.67 on Friday. Acushnet Holdings Corp. has a 1 year low of $56.34 and a 1 year high of $76.38. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The company has a 50-day moving average of $66.40 and a 200 day moving average of $65.83. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 25.40 and a beta of 0.88.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $620.50 million during the quarter, compared to the consensus estimate of $620.40 million. During the same quarter last year, the firm earned $0.85 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, December 6th. Acushnet’s payout ratio is currently 29.25%.

Insider Activity

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the transaction, the insider now directly owns 88,710 shares in the company, valued at $6,556,556.10. The trade was a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.