Bank of America Corp DE Cuts Holdings in Acushnet Holdings Corp (GOLF)

Bank of America Corp DE lowered its position in Acushnet Holdings Corp (NYSE:GOLF) by 8.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 46,149 shares of the company’s stock after selling 4,024 shares during the period. Bank of America Corp DE’s holdings in Acushnet were worth $971,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOLF. Advisor Group Inc. boosted its stake in Acushnet by 29.9% in the fourth quarter. Advisor Group Inc. now owns 1,986 shares of the company’s stock worth $42,000 after buying an additional 457 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Acushnet by 170.3% in the fourth quarter. Advisors Asset Management Inc. now owns 2,587 shares of the company’s stock worth $55,000 after buying an additional 1,630 shares in the last quarter. Legal & General Group Plc boosted its stake in Acushnet by 141.9% in the third quarter. Legal & General Group Plc now owns 13,297 shares of the company’s stock worth $365,000 after buying an additional 7,801 shares in the last quarter. California Public Employees Retirement System boosted its stake in Acushnet by 3.4% in the fourth quarter. California Public Employees Retirement System now owns 38,921 shares of the company’s stock worth $820,000 after buying an additional 1,273 shares in the last quarter. Finally, Menta Capital LLC boosted its stake in Acushnet by 9.0% in the fourth quarter. Menta Capital LLC now owns 43,436 shares of the company’s stock worth $915,000 after buying an additional 3,590 shares in the last quarter. 50.54% of the stock is owned by institutional investors and hedge funds.

NYSE:GOLF opened at $24.18 on Tuesday. The company has a market cap of $1.87 billion, a PE ratio of 18.32, a P/E/G ratio of 2.40 and a beta of 0.91. Acushnet Holdings Corp has a fifty-two week low of $20.24 and a fifty-two week high of $27.87. The company has a quick ratio of 1.03, a current ratio of 2.25 and a debt-to-equity ratio of 0.37.



Acushnet (NYSE:GOLF) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.11). The company had revenue of $433.70 million for the quarter, compared to analysts’ expectations of $445.66 million. Acushnet had a net margin of 5.74% and a return on equity of 10.19%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.56 EPS. Sell-side analysts anticipate that Acushnet Holdings Corp will post 1.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.32%. Acushnet’s dividend payout ratio is presently 42.42%.

A number of research firms have recently weighed in on GOLF. ValuEngine raised Acushnet from a “hold” rating to a “buy” rating in a research note on Friday. Roth Capital raised Acushnet from a “neutral” rating to a “buy” rating and increased their price objective for the company from $27.00 to $28.00 in a research note on Thursday, May 9th. Zacks Investment Research raised Acushnet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. TheStreet raised Acushnet from a “c+” rating to a “b” rating in a research note on Friday, March 29th. Finally, Wells Fargo & Co dropped their price objective on Acushnet from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Monday, March 4th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $25.59.

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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.

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Institutional Ownership by Quarter for Acushnet (NYSE:GOLF)

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