Crossmark Global Holdings Inc. Boosts Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Crossmark Global Holdings Inc. raised its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 123.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,617 shares of the company’s stock after purchasing an additional 19,159 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Topgolf Callaway Brands were worth $381,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Topgolf Callaway Brands by 0.5% in the first quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock worth $250,383,000 after acquiring an additional 81,021 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Topgolf Callaway Brands by 21.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock valued at $132,296,000 after acquiring an additional 1,549,222 shares during the period. Leonard Green & Partners L.P. purchased a new stake in shares of Topgolf Callaway Brands in the 2nd quarter worth $97,173,000. American Century Companies Inc. raised its holdings in Topgolf Callaway Brands by 60.8% in the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock worth $48,634,000 after purchasing an additional 1,202,347 shares during the period. Finally, Bwcp LP lifted its position in Topgolf Callaway Brands by 20.3% during the second quarter. Bwcp LP now owns 1,853,048 shares of the company’s stock valued at $28,352,000 after purchasing an additional 312,836 shares in the last quarter. Institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Price Performance

NYSE:MODG opened at $8.54 on Monday. The company has a market capitalization of $1.57 billion, a P/E ratio of -106.74, a P/E/G ratio of 5.39 and a beta of 1.75. The business’s 50-day moving average is $10.07 and its 200 day moving average is $12.77. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands Corp. has a 12 month low of $8.23 and a 12 month high of $16.89.

Analyst Upgrades and Downgrades

MODG has been the topic of a number of analyst reports. Truist Financial lowered their price objective on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Roth Mkm reiterated a “buy” rating and issued a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday. KeyCorp downgraded shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Finally, B. Riley lowered Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $12.00 in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands 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.