Ameriprise Financial Inc. Has $32.85 Million Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

Ameriprise Financial Inc. cut its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 30.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 462,173 shares of the company’s stock after selling 203,996 shares during the period. Ameriprise Financial Inc. owned approximately 0.76% of Acushnet worth $32,851,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sei Investments Co. increased its holdings in Acushnet by 4.3% during the 4th quarter. Sei Investments Co. now owns 102,137 shares of the company’s stock worth $7,260,000 after purchasing an additional 4,256 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Acushnet by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company’s stock worth $72,783,000 after buying an additional 10,166 shares in the last quarter. Renaissance Technologies LLC raised its position in Acushnet by 93.1% in the 4th quarter. Renaissance Technologies LLC now owns 19,693 shares of the company’s stock valued at $1,400,000 after buying an additional 9,493 shares during the last quarter. Atria Investments Inc lifted its stake in Acushnet by 35.0% during the 4th quarter. Atria Investments Inc now owns 31,890 shares of the company’s stock valued at $2,267,000 after acquiring an additional 8,268 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Acushnet by 361.5% during the 3rd quarter. Barclays PLC now owns 48,563 shares of the company’s stock worth $3,096,000 after acquiring an additional 38,041 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insider Activity at Acushnet

In related 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 transaction of $1,417,200.00. Following the sale, the insider now owns 96,006 shares of the company’s stock, valued at approximately $6,802,985.16. This represents a 17.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 54.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GOLF. Truist Financial increased their target price on shares of Acushnet from $64.00 to $65.00 and gave the company a “hold” rating in a report on Thursday, May 8th. StockNews.com lowered shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Compass Point downgraded Acushnet from a “buy” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $71.00 in a research note on Monday, May 5th. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. Finally, KeyCorp lifted 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $70.00.

Acushnet Stock Down 1.1%

GOLF opened at $70.39 on Wednesday. Acushnet Holdings Corp. has a twelve month low of $55.31 and a twelve month high of $76.65. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The company’s 50-day moving average price is $64.56 and its two-hundred day moving average price is $67.66. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 23.94 and a beta of 0.90.

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

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, June 6th. Acushnet’s dividend payout ratio (DPR) is currently 26.11%.

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.