Voya Investment Management LLC Lowers Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

Voya Investment Management LLC reduced its position in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 12.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 297,365 shares of the company’s stock after selling 41,097 shares during the period. Voya Investment Management LLC’s holdings in Acushnet were worth $21,137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Acushnet by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company’s stock worth $107,097,000 after buying an additional 5,661 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Acushnet by 5.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company’s stock worth $76,654,000 after acquiring an additional 54,314 shares during the period. Principal Financial Group Inc. boosted its position in Acushnet by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company’s stock worth $72,783,000 after purchasing an additional 10,166 shares during the last quarter. Raymond James Financial Inc. bought a new position in Acushnet in the 4th quarter valued at $62,713,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Acushnet by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 361,744 shares of the company’s stock valued at $25,713,000 after purchasing an additional 2,793 shares during the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Acushnet Stock Down 1.2 %

GOLF opened at $62.25 on Friday. The company has a 50 day moving average of $64.31 and a 200 day moving average of $67.30. 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 12 month low of $55.31 and a 12 month high of $76.65. The company has a market cap of $3.74 billion, a PE ratio of 21.17 and a beta of 0.84.

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

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.235 per share. The ex-dividend date was Friday, March 7th. This is a boost from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.51%. Acushnet’s dividend payout ratio is currently 28.23%.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction on 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 sale, the insider now owns 96,006 shares in the company, valued at approximately $6,802,985.16. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 54.60% of the company’s stock.

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.