Dimensional Fund Advisors LP Trims Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

Dimensional Fund Advisors LP lessened its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,499,694 shares of the company’s stock after selling 11,710 shares during the period. Dimensional Fund Advisors LP’s holdings in Acushnet were worth $95,206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Acushnet by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock worth $198,530,000 after acquiring an additional 15,088 shares during the period. Wellington Management Group LLP increased its stake in shares of Acushnet by 1.3% in the 4th quarter. Wellington Management Group LLP now owns 1,964,870 shares of the company’s stock worth $124,121,000 after purchasing an additional 25,869 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Acushnet by 871.1% in the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock worth $62,948,000 after purchasing an additional 889,515 shares during the period. Norges Bank purchased a new position in Acushnet during the fourth quarter valued at $21,945,000. Finally, Tributary Capital Management LLC grew its holdings in Acushnet by 0.3% during the second quarter. Tributary Capital Management LLC now owns 266,374 shares of the company’s stock valued at $16,909,000 after purchasing an additional 791 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on GOLF shares. JPMorgan Chase & Co. raised their price objective on Acushnet from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Truist Financial lifted their price target on shares of Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and decreased their price objective for the company from $86.00 to $75.00 in a research report on Tuesday, September 17th. Finally, Compass Point cut their price target on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.43.

Acushnet Stock Up 0.4 %

Shares of GOLF stock opened at $63.83 on Wednesday. The stock has a market cap of $4.03 billion, a P/E ratio of 22.16 and a beta of 0.85. The company’s fifty day simple moving average is $66.97 and its two-hundred day simple moving average is $64.76. The company has a quick ratio of 1.27, a current ratio of 2.28 and a debt-to-equity ratio of 0.81. Acushnet Holdings Corp. has a 52 week low of $49.42 and a 52 week high of $74.77.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The firm had revenue of $683.90 million for the quarter, compared to the consensus estimate of $709.83 million. During the same period in the previous year, the company posted $1.09 earnings per share. Acushnet’s quarterly revenue was down .8% on a year-over-year basis. Analysts predict that Acushnet Holdings Corp. will post 3.02 EPS for the current fiscal year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, September 6th. Acushnet’s dividend payout ratio is presently 29.86%.

Insider Activity at Acushnet

In other Acushnet news, Director Holdings Corp. Fila sold 1,110,000 shares of Acushnet stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.19, for a total value of $71,250,900.00. Following the completion of the transaction, the director now directly owns 31,412,966 shares of the company’s stock, valued at approximately $2,016,398,287.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 54.60% of the stock is owned by insiders.

Acushnet Company Profile

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.