Simplicity Wealth LLC Invests $563,000 in Acushnet Holdings Corp. (NYSE:GOLF)

Simplicity Wealth LLC purchased a new position in shares of Acushnet Holdings Corp. (NYSE:GOLF) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,914 shares of the company’s stock, valued at approximately $563,000.

Several other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in 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 purchasing an additional 81,065 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Acushnet by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company’s stock worth $72,783,000 after purchasing an additional 10,166 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Acushnet during the 4th quarter worth approximately $62,713,000. Jane Street Group LLC lifted its holdings in Acushnet by 702.1% during the 3rd 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 during the last quarter. Finally, FMR LLC lifted its holdings in Acushnet by 2.5% during the 3rd 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. 53.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOLF has been the subject of several research reports. StockNews.com cut Acushnet from a “buy” rating to a “hold” rating in a report on Saturday. Compass Point raised Acushnet from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. Finally, KeyCorp dropped their price objective on Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Acushnet has a consensus rating of “Hold” and a consensus target price of $72.80.

Acushnet Price Performance

Acushnet stock opened at $70.64 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet Holdings Corp. has a 52 week low of $58.54 and a 52 week high of $76.65. The stock has a market capitalization of $4.23 billion, a P/E ratio of 24.03 and a beta of 0.79. The stock has a fifty day moving average of $68.51 and a 200-day moving average of $67.64.

Acushnet (NYSE:GOLF) last posted its quarterly 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. The company had revenue of $445.17 billion during the quarter, compared to analysts’ expectations of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. On average, sell-side analysts expect that Acushnet Holdings Corp. 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 21st. Investors of record on Friday, March 7th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. Acushnet’s 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.