State of Wyoming Increases Stake in Acushnet Holdings Corp. (NYSE:GOLF)

State of Wyoming increased its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 33.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,119 shares of the company’s stock after purchasing an additional 1,788 shares during the period. State of Wyoming’s holdings in Acushnet were worth $506,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Sei Investments Co. raised its stake in shares of Acushnet by 4.3% in the fourth quarter. Sei Investments Co. now owns 102,137 shares of the company’s stock worth $7,260,000 after purchasing an additional 4,256 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Acushnet by 1.0% in the 4th quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company’s stock worth $72,783,000 after buying an additional 10,166 shares during the period. Renaissance Technologies LLC raised its position in Acushnet by 93.1% during the 4th quarter. Renaissance Technologies LLC now owns 19,693 shares of the company’s stock worth $1,400,000 after buying an additional 9,493 shares during the last quarter. Atria Investments Inc raised its position in Acushnet by 35.0% during the 4th quarter. Atria Investments Inc now owns 31,890 shares of the company’s stock worth $2,267,000 after buying an additional 8,268 shares during the last quarter. Finally, Barclays PLC lifted its stake in Acushnet by 361.5% during the 3rd quarter. Barclays PLC now owns 48,563 shares of the company’s stock valued at $3,096,000 after acquiring an additional 38,041 shares during the period. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the completion of the sale, the insider now directly owns 96,006 shares in the company, valued at approximately $6,802,985.16. The trade was a 17.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 54.60% of the stock is currently owned by company insiders.

Acushnet Price Performance

NYSE:GOLF opened at $71.90 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 52 week low of $55.31 and a 52 week high of $76.65. The stock’s 50-day moving average price is $64.80 and its 200-day moving average price is $68.00. The stock has a market capitalization of $4.23 billion, a PE ratio of 24.46 and a beta of 0.90.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.30. The company had revenue of $703.37 million for the quarter, compared to the consensus estimate of $697.82 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Acushnet’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.35 earnings per share. As a group, equities analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal 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 yield of 1.31%. The ex-dividend date is Friday, June 6th. Acushnet’s payout ratio is presently 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.