Bank of New York Mellon Corp lowered its stake in Acushnet Holdings Corp (NYSE:GOLF) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 388,199 shares of the company’s stock after selling 22,922 shares during the quarter. Bank of New York Mellon Corp owned about 0.52% of Acushnet worth $13,506,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOLF. Macquarie Group Ltd. bought a new position in Acushnet in the second quarter valued at approximately $33,227,000. Van Berkom & Associates Inc. lifted its position in shares of Acushnet by 11.5% in the first quarter. Van Berkom & Associates Inc. now owns 2,821,829 shares of the company’s stock worth $72,577,000 after purchasing an additional 290,946 shares in the last quarter. Raymond James & Associates lifted its position in shares of Acushnet by 101.2% in the second quarter. Raymond James & Associates now owns 560,975 shares of the company’s stock worth $19,516,000 after purchasing an additional 282,126 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in shares of Acushnet by 80.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares of the company’s stock worth $10,826,000 after purchasing an additional 208,527 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Acushnet by 30.5% in the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 669,115 shares of the company’s stock worth $17,210,000 after purchasing an additional 156,500 shares in the last quarter. 50.52% of the stock is currently owned by hedge funds and other institutional investors.

GOLF stock opened at $34.06 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.02 and a current ratio of 1.80. The company’s 50-day simple moving average is $35.64 and its 200 day simple moving average is $31.02. Acushnet Holdings Corp has a 52 week low of $20.65 and a 52 week high of $39.85. The company has a market capitalization of $2.53 billion, a PE ratio of 43.67 and a beta of 0.81.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.16). Acushnet had a net margin of 3.94% and a return on equity of 7.91%. The business had revenue of $300.00 million during the quarter, compared to analyst estimates of $339.41 million. During the same quarter last year, the company posted $0.51 earnings per share. The company’s revenue was down 35.1% on a year-over-year basis. On average, analysts forecast that Acushnet Holdings Corp will post 1.05 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a $0.155 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $0.62 annualized dividend and a dividend yield of 1.82%. Acushnet’s dividend payout ratio (DPR) is presently 38.75%.

Several analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Acushnet from $23.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. SunTrust Banks upped their price target on shares of Acushnet from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, June 29th. Roth Capital lowered shares of Acushnet from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Wednesday, May 27th. TheStreet lowered shares of Acushnet from a “b” rating to a “c+” rating in a research report on Wednesday, August 5th. Finally, Zacks Investment Research raised shares of Acushnet from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a research report on Wednesday, September 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $29.39.

Acushnet 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.

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Institutional Ownership by Quarter for Acushnet (NYSE:GOLF)

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