Pictet Asset Management Holding SA Acquires 1,023 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Pictet Asset Management Holding SA lifted its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 31.9% in the 4th quarter, HoldingsChannel reports. The fund owned 4,229 shares of the company’s stock after purchasing an additional 1,023 shares during the period. Pictet Asset Management Holding SA’s holdings in Acushnet were worth $301,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOLF. Janus Henderson Group PLC boosted its stake in Acushnet by 28.7% during the 3rd quarter. Janus Henderson Group PLC now owns 43,747 shares of the company’s stock valued at $2,789,000 after purchasing an additional 9,751 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Acushnet by 3.2% in the third quarter. Orion Portfolio Solutions LLC now owns 10,628 shares of the company’s stock valued at $678,000 after purchasing an additional 330 shares in the last quarter. Barclays PLC boosted its position in shares of Acushnet by 361.5% during the third quarter. Barclays PLC now owns 48,563 shares of the company’s stock valued at $3,096,000 after buying an additional 38,041 shares during the last quarter. Virtu Financial LLC grew its holdings in Acushnet by 152.6% during the third quarter. Virtu Financial LLC now owns 8,163 shares of the company’s stock worth $520,000 after buying an additional 4,931 shares in the last quarter. Finally, SkyView Investment Advisors LLC raised its position in Acushnet by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company’s stock valued at $1,324,000 after buying an additional 376 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insider Activity

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 value of $1,417,200.00. Following the sale, the insider now owns 96,006 shares of the company’s stock, valued at $6,802,985.16. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOLF shares. StockNews.com downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. KeyCorp reduced their price objective 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. Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and increased 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 reduced their target price for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.80.

Acushnet Price Performance

GOLF opened at $60.89 on Friday. The firm has a market cap of $3.65 billion, a P/E ratio of 20.71 and a beta of 0.84. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet Holdings Corp. has a fifty-two week low of $55.31 and a fifty-two week high of $76.65. The firm has a 50-day moving average of $65.47 and a 200 day moving average of $67.47.

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

Acushnet Increases Dividend

The company also recently announced 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 positive change from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.54%. Acushnet’s payout ratio is presently 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.