Acushnet $GOLF Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in Acushnet (NYSE:GOLF) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 830,995 shares of the company’s stock after selling 34,880 shares during the period. JPMorgan Chase & Co. owned approximately 1.42% of Acushnet worth $65,225,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Brown Brothers Harriman & Co. raised its stake in Acushnet by 389.6% during the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after purchasing an additional 261 shares during the period. Kelleher Financial Advisors purchased a new stake in shares of Acushnet during the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after buying an additional 295 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Acushnet by 197.5% during the 3rd quarter. Federated Hermes Inc. now owns 598 shares of the company’s stock worth $47,000 after buying an additional 397 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Acushnet by 416.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 635 shares of the company’s stock worth $50,000 after buying an additional 512 shares during the period. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GOLF shares. Jefferies Financial Group reiterated a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. JPMorgan Chase & Co. upgraded Acushnet from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $74.00 to $96.00 in a report on Friday, January 23rd. Truist Financial lifted their price objective on Acushnet from $74.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, February 9th. Morgan Stanley boosted their target price on Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, January 22nd. Finally, KeyCorp reissued a “sector weight” rating on shares of Acushnet in a research report on Friday, January 16th. Nine equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Acushnet currently has an average rating of “Hold” and a consensus price target of $89.57.

Insider Buying and Selling

In related news, Director Gregory A. Hewett sold 4,206 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total transaction of $420,600.00. Following the transaction, the director directly owned 37,017 shares of the company’s stock, valued at approximately $3,701,700. The trade was a 10.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 53.60% of the company’s stock.

Acushnet Stock Down 3.0%

Shares of Acushnet stock opened at $91.30 on Friday. Acushnet has a twelve month low of $55.31 and a twelve month high of $104.81. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 29.45 and a beta of 0.88. The company has a current ratio of 2.38, a quick ratio of 0.97 and a debt-to-equity ratio of 1.18. The company has a fifty day moving average price of $96.58 and a 200 day moving average price of $85.83.

Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.31). The company had revenue of $477.22 million during the quarter, compared to analysts’ expectations of $453.59 million. Acushnet had a net margin of 7.37% and a return on equity of 25.49%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business earned ($0.02) earnings per share. Equities research analysts forecast that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, March 6th. This is an increase from Acushnet’s previous quarterly dividend of $0.24. Acushnet’s dividend payout ratio (DPR) is 32.90%.

Acushnet Company Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.