Tributary Capital Management LLC Has $18.82 Million Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Tributary Capital Management LLC decreased its position in Acushnet Holdings Corp. (NYSE:GOLF) by 0.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 264,753 shares of the company’s stock after selling 317 shares during the period. Tributary Capital Management LLC owned about 0.44% of Acushnet worth $18,819,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOLF. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Acushnet by 34.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 4,662 shares of the company’s stock worth $331,000 after purchasing an additional 1,187 shares during the period. Heritage Family Offices LLP acquired a new position in Acushnet in the fourth quarter worth approximately $205,000. PFW Advisors LLC bought a new position in Acushnet during the fourth quarter valued at approximately $264,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Acushnet in the fourth quarter valued at approximately $239,000. Finally, Principal Financial Group Inc. boosted its holdings in Acushnet by 6.7% in the third 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 in the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Christopher Aaron Lindner sold 5,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.91, for a total transaction of $369,550.00. Following the completion of the sale, the insider now owns 88,710 shares in the company, valued at $6,556,556.10. This trade represents a 5.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 54.60% of the company’s stock.

Acushnet Stock Down 1.2 %

GOLF stock opened at $67.18 on Friday. The business’s 50-day simple moving average is $72.22 and its 200 day simple moving average is $67.85. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The company has a market cap of $4.08 billion, a PE ratio of 22.85 and a beta of 0.88. Acushnet Holdings Corp. has a twelve month low of $58.54 and a twelve month high of $76.65.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $620.50 million during the quarter, compared to analyst estimates of $620.40 million. During the same period in the prior year, the company posted $0.85 earnings per share. Acushnet’s revenue was up 4.6% on a year-over-year basis. On average, research analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Friday, December 6th. Acushnet’s payout ratio is 29.25%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GOLF. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $69.00 to $64.00 in a report on Thursday. Truist Financial increased their target price on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th.

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.