Victory Capital Management Inc. Lowers Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Victory Capital Management Inc. decreased its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,067,789 shares of the company’s stock after selling 4,903 shares during the quarter. Victory Capital Management Inc.’s holdings in Acushnet were worth $75,898,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after purchasing an additional 176 shares during the period. Prospera Private Wealth LLC acquired a new position in Acushnet in the 3rd quarter worth about $41,000. Quarry LP raised its holdings in Acushnet by 745.6% in the 3rd quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after purchasing an additional 932 shares during the period. Berry Wealth Group LP acquired a new position in Acushnet in the 4th quarter worth about $202,000. Finally, Heritage Family Offices LLP acquired a new position in Acushnet in the 4th quarter worth about $205,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Acushnet Price Performance

NYSE:GOLF opened at $68.71 on Friday. Acushnet Holdings Corp. has a one year low of $58.54 and a one year high of $76.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The stock has a market cap of $4.12 billion, a PE ratio of 23.37 and a beta of 0.79. The stock has a 50 day moving average price of $68.55 and a 200 day moving average price of $67.58.

Acushnet (NYSE:GOLF) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The firm had revenue of $445.17 billion during the quarter, compared to analysts’ expectations of $454.83 million. Equities research analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, March 7th. This is a boost from Acushnet’s previous quarterly dividend of $0.22. Acushnet’s dividend payout ratio (DPR) is currently 28.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Compass Point raised Acushnet from a “neutral” rating to a “buy” rating and upped their price target for the stock from $77.00 to $80.00 in a report on Tuesday. Truist Financial upped their price target on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. KeyCorp reduced their target price on Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, February 28th. StockNews.com raised Acushnet from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $72.80.

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.