US Bancorp DE Sells 2,977 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

US Bancorp DE lowered its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 30.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,920 shares of the company’s stock after selling 2,977 shares during the period. US Bancorp DE’s holdings in Acushnet were worth $492,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GOLF. Blue Trust Inc. increased its position in shares of Acushnet by 100.6% during the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after buying an additional 176 shares during the period. Robertson Stephens Wealth Management LLC grew its holdings in shares of Acushnet by 8.4% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 4,196 shares of the company’s stock valued at $298,000 after buying an additional 326 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Acushnet by 3.2% during the third quarter. Orion Portfolio Solutions LLC now owns 10,628 shares of the company’s stock valued at $678,000 after buying an additional 330 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of Acushnet by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company’s stock valued at $1,324,000 after buying an additional 376 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its holdings in shares of Acushnet by 2.3% during the third quarter. OneDigital Investment Advisors LLC now owns 18,433 shares of the company’s stock valued at $1,175,000 after buying an additional 413 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. KeyCorp dropped their price target on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. StockNews.com lowered shares of Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. Finally, Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and raised their price target for the company from $77.00 to $80.00 in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $72.80.

Insider Transactions at Acushnet

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

Acushnet Stock Performance

Shares of GOLF stock opened at $66.62 on Thursday. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 22.66 and a beta of 0.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet Holdings Corp. has a 52 week low of $58.54 and a 52 week high of $76.65. The firm’s 50-day simple moving average is $68.37 and its two-hundred day simple moving average is $67.64.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.31. The business had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. As a group, equities analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.235 dividend. This is an increase from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.94 annualized dividend and a dividend yield of 1.41%. Acushnet’s dividend payout ratio (DPR) is presently 28.23%.

About Acushnet

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.