Wellington Management Group LLP Sells 432,635 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Wellington Management Group LLP lessened its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 26.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,228,718 shares of the company’s stock after selling 432,635 shares during the period. Wellington Management Group LLP owned about 2.02% of Acushnet worth $87,337,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOLF. Blue Trust Inc. boosted its stake in Acushnet by 100.6% during the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after purchasing an additional 176 shares during the last quarter. Quarry LP boosted its stake in shares of Acushnet by 745.6% during 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 purchased a new position in Acushnet during the 4th quarter valued at $202,000. Heritage Family Offices LLP bought a new position in shares of Acushnet in the fourth quarter worth about $205,000. Finally, Leavell Investment Management Inc. purchased a new stake in Acushnet in the 4th quarter valued at about $210,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOLF. KeyCorp decreased their price target on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Compass Point raised Acushnet from a “neutral” rating to a “buy” rating and lifted their target price for the company from $77.00 to $80.00 in a research report on Tuesday, March 4th. StockNews.com lowered Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, JPMorgan Chase & Co. downgraded Acushnet from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $72.80.

Insider Activity

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the transaction, the insider now owns 96,006 shares in the company, valued at $6,802,985.16. This represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 54.60% of the company’s stock.

Acushnet Trading Up 1.3 %

GOLF opened at $60.35 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm has a market cap of $3.62 billion, a price-to-earnings 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 stock has a fifty day moving average price of $66.30 and a 200-day moving average price of $67.65.

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 net margin of 7.78% and a return on equity of 21.45%. The business had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. As a group, equities research analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

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

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.