D. E. Shaw & Co. Inc. Raises Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

D. E. Shaw & Co. Inc. increased its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 40.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,822 shares of the company’s stock after acquiring an additional 48,553 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.28% of Acushnet worth $12,000,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after purchasing an additional 176 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of Acushnet by 1.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company’s stock worth $953,000 after purchasing an additional 217 shares during the last quarter. Semanteon Capital Management LP lifted its stake in shares of Acushnet by 3.0% in the 4th quarter. Semanteon Capital Management LP now owns 9,659 shares of the company’s stock worth $687,000 after acquiring an additional 281 shares during the period. Robertson Stephens Wealth Management LLC lifted its position in Acushnet by 8.4% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 4,196 shares of the company’s stock valued at $298,000 after purchasing an additional 326 shares during the period. Finally, Franklin Resources Inc. raised its position in Acushnet by 2.5% in the third quarter. Franklin Resources Inc. now owns 22,831 shares of the company’s stock worth $1,455,000 after acquiring an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Insider Activity at Acushnet

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 shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the completion of the transaction, the insider now directly owns 96,006 shares of the company’s stock, valued at $6,802,985.16. The trade was a 17.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Compass Point cut Acushnet from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $80.00 to $71.00 in a report on Monday, May 5th. KeyCorp lifted their price target on Acushnet from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Truist Financial increased their price objective on shares of Acushnet from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Thursday, May 8th. StockNews.com cut shares of Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $70.00.

Acushnet Price Performance

Shares of NYSE GOLF opened at $70.39 on Wednesday. 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 Holdings Corp. has a twelve month low of $55.31 and a twelve month high of $76.65. The business has a 50 day simple moving average of $64.56 and a 200-day simple moving average of $67.66. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 23.94 and a beta of 0.90.

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

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued 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 26.11%.

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.