Dana Investment Advisors Inc. Takes $863,000 Position in Acushnet Holdings Corp. (NYSE:GOLF)

Dana Investment Advisors Inc. acquired a new stake in Acushnet Holdings Corp. (NYSE:GOLF) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,146 shares of the company’s stock, valued at approximately $863,000.

Several other hedge funds have also modified their holdings of GOLF. Jane Street Group LLC increased its position in shares of Acushnet by 702.1% during the third quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock worth $32,430,000 after purchasing an additional 445,281 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Acushnet by 258.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company’s stock worth $16,970,000 after acquiring an additional 192,034 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Acushnet by 133.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 298,958 shares of the company’s stock worth $19,059,000 after acquiring an additional 170,668 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Acushnet by 8.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company’s stock worth $68,384,000 after acquiring an additional 81,065 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Acushnet by 6.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock worth $64,632,000 after purchasing an additional 63,294 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Acushnet Trading Down 0.3 %

Acushnet stock opened at $68.40 on Friday. The firm has a 50 day simple moving average of $68.51 and a 200-day simple moving average of $67.61. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The stock has a market capitalization of $4.10 billion, a PE ratio of 23.27 and a beta of 0.79. Acushnet Holdings Corp. has a 12-month low of $58.54 and a 12-month high of $76.65.

Acushnet (NYSE:GOLF) last issued 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. The business had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. As a group, equities research analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.235 per share. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, March 7th. Acushnet’s payout ratio is 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.