Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by Cerity Partners LLC

Cerity Partners LLC decreased its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 6.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,601 shares of the company’s stock after selling 529 shares during the period. Cerity Partners LLC’s holdings in Acushnet were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. grew 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 during the last quarter. Berry Wealth Group LP bought a new stake in shares of Acushnet in the 4th quarter worth $202,000. Heritage Family Offices LLP acquired a new stake in Acushnet in the 4th quarter valued at about $205,000. Leavell Investment Management Inc. acquired a new stake in Acushnet during the fourth quarter valued at approximately $210,000. Finally, Corient Private Wealth LLC acquired a new stake in shares of Acushnet during the 4th quarter valued at $210,000. 53.12% of the stock is owned by institutional investors.

Acushnet Trading Down 0.0 %

Acushnet stock opened at $59.70 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a 12 month low of $55.31 and a 12 month high of $76.65. The company’s fifty day simple moving average is $64.70 and its 200-day simple moving average is $67.36. The stock has a market cap of $3.58 billion, a P/E ratio of 20.31 and a beta of 0.84.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, February 27th. The company reported ($0.02) 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 firm had revenue of $445.17 billion for the quarter, compared to the consensus estimate of $454.83 million. As a group, sell-side analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.57%. 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. Acushnet’s dividend payout ratio (DPR) is presently 28.23%.

Insiders Place Their Bets

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the business’s 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 completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOLF. Compass Point raised Acushnet from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $77.00 to $80.00 in a research report on Tuesday, March 4th. StockNews.com cut shares of Acushnet from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and cut their price target for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. Truist Financial lowered their price objective on shares of Acushnet from $68.00 to $64.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Finally, KeyCorp lowered their price target on Acushnet from $77.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. One equities 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $70.60.

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.