Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC trimmed its position in Acushnet Holdings Corp. (NYSE:GOLF) by 12.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,303 shares of the company’s stock after selling 1,325 shares during the period. Orion Portfolio Solutions LLC’s holdings in Acushnet were worth $661,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Acushnet by 5.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company’s stock valued at $76,654,000 after acquiring an additional 54,314 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Acushnet by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company’s stock valued at $72,783,000 after purchasing an additional 10,166 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Acushnet during the 4th quarter worth $62,713,000. Jane Street Group LLC increased its position in shares of Acushnet by 702.1% during the 3rd quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock worth $32,430,000 after purchasing an additional 445,281 shares during the last quarter. Finally, FMR LLC raised its holdings in Acushnet by 2.5% in the 3rd quarter. FMR LLC now owns 441,069 shares of the company’s stock valued at $28,118,000 after buying an additional 10,762 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. KeyCorp dropped their price target on shares of 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 lowered Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Compass Point raised Acushnet from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $77.00 to $80.00 in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $72.80.

Insider Activity

In other 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 transaction, the insider now owns 96,006 shares in the company, valued at approximately $6,802,985.16. This represents a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 54.60% of the company’s stock.

Acushnet Stock Up 1.3 %

Acushnet stock opened at $60.35 on Monday. The firm has a market capitalization of $3.62 billion, a P/E ratio of 20.53 and a beta of 0.84. The stock’s fifty day simple moving average is $66.30 and its 200-day simple moving average is $67.71. Acushnet Holdings Corp. has a twelve month low of $57.21 and a twelve month high of $76.65. 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 (NYSE:GOLF) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. As a group, equities analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.235 dividend. The ex-dividend date was Friday, March 7th. This is an increase from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.56%. Acushnet’s dividend payout ratio is currently 28.23%.

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.