Grantham Mayo Van Otterloo & Co. LLC Sells 49,760 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Grantham Mayo Van Otterloo & Co. LLC lessened its position in Acushnet Holdings Corp. (NYSE:GOLF) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 610,338 shares of the company’s stock after selling 49,760 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 1.00% of Acushnet worth $43,383,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Acushnet by 6.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after acquiring an additional 63,294 shares in the last quarter. FMR LLC raised its stake in shares of Acushnet by 2.5% in the third quarter. FMR LLC now owns 441,069 shares of the company’s stock worth $28,118,000 after purchasing an additional 10,762 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Acushnet during the third quarter valued at $508,000. Atria Investments Inc boosted its position in shares of Acushnet by 35.0% during the fourth quarter. Atria Investments Inc now owns 31,890 shares of the company’s stock valued at $2,267,000 after buying an additional 8,268 shares during the last quarter. Finally, Barclays PLC increased its holdings in Acushnet by 361.5% in the 3rd quarter. Barclays PLC now owns 48,563 shares of the company’s stock worth $3,096,000 after buying an additional 38,041 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Insider Buying and Selling

In related news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $70.86, for a total value 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. This represents a 17.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 54.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Compass Point upgraded shares of Acushnet from a “neutral” rating to a “buy” rating and upped their target price for the company from $77.00 to $80.00 in a research note on Tuesday, March 4th. KeyCorp lowered their price objective 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 note on Saturday, March 8th. Finally, JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $72.80.

Acushnet Stock Up 1.3 %

Shares of GOLF stock opened at $60.35 on Friday. The company has a 50 day simple moving average of $66.30 and a two-hundred day simple moving average of $67.65. The stock has a market cap of $3.62 billion, a P/E ratio of 20.53 and a beta of 0.84. Acushnet Holdings Corp. has a 12 month low of $57.21 and a 12 month high of $76.65. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

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

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.56%. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 7th. Acushnet’s dividend payout ratio is currently 28.23%.

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.