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New York State Common Retirement Fund Sells 4,862 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

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New York State Common Retirement Fund cut its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 16.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,721 shares of the company’s stock after selling 4,862 shares during the quarter. New York State Common Retirement Fund’s holdings in Acushnet were worth $1,154,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of GOLF. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Acushnet by 16.4% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,441,641 shares of the company’s stock valued at $417,017,000 after purchasing an additional 1,190,847 shares in the last quarter. FMR LLC grew its position in Acushnet by 558.1% in the second quarter. FMR LLC now owns 871,665 shares of the company’s stock worth $43,060,000 after acquiring an additional 739,222 shares in the last quarter. Victory Capital Management Inc. grew its position in Acushnet by 13,148.4% in the third quarter. Victory Capital Management Inc. now owns 603,067 shares of the company’s stock worth $28,163,000 after acquiring an additional 598,515 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its position in Acushnet by 80.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares of the company’s stock worth $10,826,000 after acquiring an additional 208,527 shares in the last quarter. Finally, Millennium Management LLC grew its position in Acushnet by 42.4% in the second quarter. Millennium Management LLC now owns 259,051 shares of the company’s stock worth $12,797,000 after acquiring an additional 77,153 shares in the last quarter. 49.05% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on GOLF shares. Stephens lifted their price target on Acushnet from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday, November 5th. KeyCorp raised their price objective on shares of Acushnet from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, November 8th. Roth Capital reissued a “buy” rating on shares of Acushnet in a research note on Monday, November 8th. Finally, Zacks Investment Research raised shares of Acushnet from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Monday, November 8th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Acushnet presently has a consensus rating of “Hold” and a consensus price target of $55.13.

Shares of NYSE:GOLF opened at $49.28 on Friday. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 16.32 and a beta of 0.75. Acushnet Holdings Corp. has a 52 week low of $38.57 and a 52 week high of $57.87. The company has a quick ratio of 1.63, a current ratio of 2.37 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $53.67 and a 200 day moving average of $51.65.

Acushnet (NYSE:GOLF) last issued its quarterly earnings data on Thursday, November 4th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.38. The company had revenue of $521.60 million during the quarter, compared to the consensus estimate of $430.53 million. Acushnet had a net margin of 10.56% and a return on equity of 21.12%. Acushnet’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 earnings per share. On average, sell-side analysts expect that Acushnet Holdings Corp. will post 2.44 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 17th. Shareholders of record on Friday, December 3rd were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.34%. The ex-dividend date was Thursday, December 2nd. Acushnet’s dividend payout ratio is currently 21.85%.

In other Acushnet news, insider Christopher Aaron Lindner sold 11,196 shares of Acushnet stock in a transaction on Monday, November 8th. The shares were sold at an average price of $57.08, for a total value of $639,067.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. 54.10% of the stock is currently owned by insiders.

Acushnet Company Profile

Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment involves in the design and manufacture of golf balls.

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