Swiss National Bank Sells 1,100 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Swiss National Bank reduced its stake in Acushnet Holdings Corp. (NYSE:GOLF – Free Report) by 1.7% during the first quarter, according to its most recent SEC filing. The institutional investor owned 64,500 shares of the company after selling 1,100 shares during the period. Swiss National Bank owned 0.10% of Acushnet worth $4,254,000, according to its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new position in Acushnet during the fourth quarter worth about $32,000. Gladius Capital Management LP purchased a new position in shares of Acushnet during the fourth quarter worth about $37,000. Principal Securities Inc. purchased a new stake in Acushnet during the fourth quarter worth about $37,000. Benjamin F. Edwards & Company Inc. increased its position in Acushnet by 101.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock worth $76,000 after purchasing an additional 585 shares during the last quarter. Finally, Phillips Wealth Planners LLC purchased a new position in Acushnet during the fourth quarter worth about $204,000. Institutional investors own 53.12% of the company’s shares.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial increased their price target on shares of Acushnet from $62.00 to $63.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. increased their price target on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Five equities analysts have rated the stock with a hold rating and four have given a buy rating. The company currently has a consensus rating of “Hold” and a consensus price target of $66.38, according to data from MarketBeat.com.

Get our latest report on GOLF

Acushnet shares down 0.7%

Shares of NYSE:GOLF opened Monday at $67.21. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 23.34 and a beta of 0.85. The stock’s 50-day moving average price is $64.15 and its 200-day moving average price is $64.20. The company has a current ratio of 2.69, a quick ratio of 1.46 and a debt-to-equity ratio of 0.91. Acushnet Holdings Corp. has a 12-month low of $49.42 and a 12-month high of $70.10.

Acushnet (NYSE:GOLF – Get Free Report) last announced its quarterly results on Tuesday, May 7. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.19. The company had revenue of $707.55 million for the quarter, compared to analysts’ expectations of $692.41 million. Acushnet had a return on equity of 20.65% and a net margin of 8.03%. On average, equity analysts expect Acushnet Holdings Corp. to post 3.12 EPS for the current year.

Acushnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.215 per share. The ex-dividend date was Friday, June 7th. This represents an annualized dividend of $0.86 and a yield of 1.28%. Acushnet’s payout ratio is currently 29.86%.

Insiders place their bets

In other news, Director Holdings Corp. Fila sold 587,520 shares of the company’s stock in a transaction dated Wednesday, July 10. The shares were sold at an average price of $63.83, for a total transaction of $37,501,401.60. Following the completion of the transaction, the director now directly owns 32,522,966 shares of the company’s stock, valued at $2,075,940,919.78. The sale was disclosed in a legal filing with the SEC, which can be accessed at this hyperlink. Insiders own 54.60% of the company’s stock.

Acushnet Profile

(Free Report)

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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