Landscape Capital Management L.L.C. Raises Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

Landscape Capital Management L.L.C. boosted its stake in Acushnet Holdings Corp. (NYSE:GOLF) by 50.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,877 shares of the company’s stock after buying an additional 8,335 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Acushnet were worth $1,768,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its position 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 buying an additional 176 shares in the last quarter. Quarry LP raised its holdings in Acushnet by 745.6% in the third quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after buying an additional 932 shares during the last quarter. Berry Wealth Group LP bought a new position in shares of Acushnet in the fourth quarter worth approximately $202,000. Heritage Family Offices LLP purchased a new stake in shares of Acushnet during the fourth quarter valued at approximately $205,000. Finally, Corient Private Wealth LLC bought a new stake in shares of Acushnet during the fourth quarter valued at approximately $210,000. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Insider Buying and Selling at Acushnet

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. KeyCorp cut their target price on Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and raised their price target for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. StockNews.com cut shares of Acushnet from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Finally, JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $72.80.

Acushnet Stock Up 1.3 %

Shares of GOLF stock opened at $60.35 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. Acushnet Holdings Corp. has a one year low of $57.21 and a one year high of $76.65. The company’s fifty day moving average price is $66.30 and its 200-day moving average price is $67.65. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 20.53 and a beta of 0.84.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate 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 net margin of 7.78% and a return on equity of 21.45%. Sell-side analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.235 per share. This is an increase from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, March 7th. Acushnet’s dividend 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.