Pitcairn Co. Has $413,000 Position in Acushnet Holdings Corp. (NYSE:GOLF)

Pitcairn Co. cut its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 17.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,485 shares of the company’s stock after selling 1,402 shares during the quarter. Pitcairn Co.’s holdings in Acushnet were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GOLF. New Covenant Trust Company N.A. acquired a new stake in shares of Acushnet during the first quarter valued at about $27,000. Brown Lisle Cummings Inc. acquired a new stake in Acushnet during the 3rd quarter worth approximately $40,000. Prospera Private Wealth LLC bought a new stake in Acushnet during the 3rd quarter worth approximately $41,000. nVerses Capital LLC acquired a new position in Acushnet in the 3rd quarter valued at approximately $57,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Acushnet by 1,719.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,219 shares of the company’s stock valued at $78,000 after acquiring an additional 1,152 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the completion of the sale, the insider now owns 88,710 shares of the company’s stock, valued at approximately $6,556,556.10. This trade represents a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 54.60% of the company’s stock.

Acushnet Stock Performance

GOLF stock opened at $73.94 on Wednesday. The firm has a market cap of $4.50 billion, a PE ratio of 25.27 and a beta of 0.85. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average price of $64.79 and a 200-day moving average price of $65.32. Acushnet Holdings Corp. has a 1-year low of $55.74 and a 1-year high of $76.38.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $620.50 million during the quarter, compared to the consensus estimate of $620.40 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. As a group, equities research analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Friday, December 6th. Acushnet’s payout ratio is 29.25%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GOLF shares. Truist Financial boosted their price objective on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Compass Point decreased their price target on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group cut Acushnet from a “buy” rating to a “hold” rating and reduced their target price for the company from $86.00 to $75.00 in a report on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.40.

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.