Swiss National Bank Trims Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

Swiss National Bank trimmed its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 0.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 60,800 shares of the company’s stock after selling 200 shares during the period. Swiss National Bank’s holdings in Acushnet were worth $4,322,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after purchasing an additional 176 shares in the last quarter. Robertson Stephens Wealth Management LLC lifted its position in Acushnet by 8.4% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 4,196 shares of the company’s stock worth $298,000 after buying an additional 326 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in Acushnet by 3.2% during the third quarter. Orion Portfolio Solutions LLC now owns 10,628 shares of the company’s stock worth $678,000 after buying an additional 330 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in Acushnet by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company’s stock worth $1,324,000 after buying an additional 376 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Acushnet by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 22,831 shares of the company’s stock valued at $1,455,000 after buying an additional 548 shares in the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the completion of the sale, the insider now 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 can be accessed through this link. Insiders own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOLF. KeyCorp lowered their price objective on Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. StockNews.com downgraded Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. Finally, Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and lifted their price target for the company from $77.00 to $80.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Acushnet currently has a consensus rating of “Hold” and a consensus target price of $72.80.

Acushnet Stock Down 1.2 %

Shares of NYSE GOLF opened at $67.10 on Wednesday. The stock has a market cap of $4.02 billion, a P/E ratio of 22.82 and a beta of 0.79. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a 12-month low of $58.54 and a 12-month high of $76.65. The business’s fifty day simple moving average is $67.34 and its 200-day simple moving average is $67.61.

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

Acushnet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.235 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 1.40%. 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.