Kennedy Capital Management LLC Has $15.34 Million Stock Position in Acushnet $GOLF

Kennedy Capital Management LLC cut its stake in shares of Acushnet (NYSE:GOLF) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 195,379 shares of the company’s stock after selling 8,492 shares during the period. Kennedy Capital Management LLC owned 0.33% of Acushnet worth $15,335,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Fisher Asset Management LLC increased its stake in shares of Acushnet by 238.0% during the third quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock worth $55,269,000 after purchasing an additional 495,794 shares during the period. Norges Bank bought a new stake in Acushnet in the 2nd quarter valued at $20,963,000. Tributary Capital Management LLC grew its holdings in Acushnet by 92.6% in the 3rd quarter. Tributary Capital Management LLC now owns 457,490 shares of the company’s stock valued at $35,908,000 after buying an additional 219,895 shares in the last quarter. Bank of America Corp DE increased its position in Acushnet by 31.8% during the 2nd quarter. Bank of America Corp DE now owns 457,460 shares of the company’s stock worth $33,312,000 after buying an additional 110,245 shares during the period. Finally, American Century Companies Inc. increased its position in Acushnet by 489.1% during the 2nd quarter. American Century Companies Inc. now owns 122,185 shares of the company’s stock worth $8,898,000 after buying an additional 101,443 shares during the period. Institutional investors own 53.12% of the company’s stock.

Acushnet Price Performance

Shares of GOLF traded down $0.02 during trading hours on Friday, hitting $92.87. 16,408 shares of the company were exchanged, compared to its average volume of 373,347. The company has a quick ratio of 0.97, a current ratio of 2.38 and a debt-to-equity ratio of 1.18. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $104.81. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 29.94 and a beta of 0.88. The firm’s fifty day moving average is $95.74 and its 200 day moving average is $85.30.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.31). Acushnet had a return on equity of 25.49% and a net margin of 7.37%.The firm had revenue of $477.22 million for the quarter, compared to the consensus estimate of $453.59 million. During the same period in the prior year, the company earned ($0.02) EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Acushnet’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, March 6th. Acushnet’s payout ratio is 32.90%.

Insider Transactions at Acushnet

In other Acushnet news, Director Gregory A. Hewett sold 4,206 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total transaction of $420,600.00. Following the completion of the sale, the director directly owned 37,017 shares in the company, valued at $3,701,700. This represents a 10.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 53.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GOLF shares. UBS Group set a $100.00 target price on shares of Acushnet in a research report on Thursday, February 26th. JPMorgan Chase & Co. raised shares of Acushnet from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $74.00 to $96.00 in a research report on Friday, January 23rd. KeyCorp reiterated a “sector weight” rating on shares of Acushnet in a research note on Friday, January 16th. Zacks Research lowered shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. Nine investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.57.

Acushnet Profile

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.