New York State Common Retirement Fund lessened its position in Acushnet Holdings Corp. (NYSE:GOLF) by 16.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,721 shares of the company’s stock after selling 4,862 shares during the period. New York State Common Retirement Fund’s holdings in Acushnet were worth $1,154,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of GOLF. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Acushnet by 16.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,441,641 shares of the company’s stock valued at $417,017,000 after buying an additional 1,190,847 shares during the last quarter. FMR LLC grew its holdings in Acushnet by 558.1% in the second quarter. FMR LLC now owns 871,665 shares of the company’s stock valued at $43,060,000 after purchasing an additional 739,222 shares during the period. Victory Capital Management Inc. grew its holdings in Acushnet by 13,148.4% in the third quarter. Victory Capital Management Inc. now owns 603,067 shares of the company’s stock valued at $28,163,000 after purchasing an additional 598,515 shares during the period. Amundi Pioneer Asset Management Inc. grew its holdings in Acushnet by 80.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares of the company’s stock valued at $10,826,000 after purchasing an additional 208,527 shares during the period. Finally, Millennium Management LLC grew its holdings in Acushnet by 42.4% in the second quarter. Millennium Management LLC now owns 259,051 shares of the company’s stock valued at $12,797,000 after purchasing an additional 77,153 shares during the period. 49.05% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on GOLF shares. Stephens boosted their target price on shares of Acushnet from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, November 5th. Zacks Investment Research upgraded shares of Acushnet from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Monday, November 8th. Roth Capital reiterated a “buy” rating on shares of Acushnet in a research note on Monday, November 8th. Finally, KeyCorp boosted their price objective on shares of Acushnet from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, November 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Acushnet has a consensus rating of “Hold” and an average target price of $55.13.
Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, November 4th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.38. The business had revenue of $521.60 million during the quarter, compared to the consensus estimate of $430.53 million. Acushnet had a net margin of 10.56% and a return on equity of 21.12%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. Research analysts anticipate that Acushnet Holdings Corp. will post 2.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 17th. Stockholders of record on Friday, December 3rd were paid a $0.165 dividend. The ex-dividend date was Thursday, December 2nd. This represents a $0.66 annualized dividend and a dividend yield of 1.34%. Acushnet’s dividend payout ratio (DPR) is presently 21.85%.
In other news, insider Christopher Aaron Lindner sold 11,196 shares of the company’s stock in a transaction on Monday, November 8th. The shares were sold at an average price of $57.08, for a total value of $639,067.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 54.10% of the stock is currently owned by corporate insiders.
Acushnet Company Profile
Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment involves in the design and manufacture of golf balls.
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