US Bancorp DE Has $1.49 Million Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

US Bancorp DE cut its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 1.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 135,262 shares of the company’s stock after selling 1,851 shares during the quarter. US Bancorp DE owned 0.07% of Topgolf Callaway Brands worth $1,485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp lifted its position in Topgolf Callaway Brands by 327.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after buying an additional 1,936 shares in the last quarter. Dnca Finance bought a new stake in Topgolf Callaway Brands during the second quarter worth about $134,000. Koss Olinger Consulting LLC acquired a new position in Topgolf Callaway Brands during the second quarter valued at approximately $160,000. Simon Quick Advisors LLC bought a new position in Topgolf Callaway Brands in the second quarter valued at approximately $161,000. Finally, QRG Capital Management Inc. bought a new position in Topgolf Callaway Brands in the first quarter valued at approximately $178,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Trading Up 0.6 %

Shares of NYSE:MODG opened at $9.75 on Friday. The stock has a market cap of $1.79 billion, a PE ratio of 97.50, a P/E/G ratio of 6.37 and a beta of 1.75. The company has a quick ratio of 1.15, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands Corp. has a 12-month low of $9.05 and a 12-month high of $16.89. The business has a 50 day moving average of $10.23 and a 200-day moving average of $13.13.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm posted $0.39 EPS. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities research analysts forecast that Topgolf Callaway Brands Corp. will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MODG shares. Bank of America dropped their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. The Goldman Sachs Group cut their price target on shares of Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group lowered shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $40.00 to $12.00 in a research note on Thursday, August 29th. KeyCorp downgraded shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research note on Thursday, August 8th. Finally, Raymond James cut Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.31.

Topgolf Callaway Brands Company Profile

Topgolf Callaway Brands Corp. designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology; and World Golf Tour digital golf game.