Everence Capital Management Inc. Has $306,000 Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Everence Capital Management Inc. lifted its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 63.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,900 shares of the company’s stock after purchasing an additional 10,790 shares during the quarter. Everence Capital Management Inc.’s holdings in Topgolf Callaway Brands were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Topgolf Callaway Brands during the 3rd quarter worth approximately $133,000. Park Avenue Securities LLC boosted its stake in Topgolf Callaway Brands by 13.5% in the 3rd quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock valued at $183,000 after buying an additional 1,985 shares in the last quarter. Truist Financial Corp boosted its stake in Topgolf Callaway Brands by 63.9% in the 2nd quarter. Truist Financial Corp now owns 45,972 shares of the company’s stock valued at $703,000 after buying an additional 17,931 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Topgolf Callaway Brands by 888.0% in the 2nd quarter. NewEdge Advisors LLC now owns 88,969 shares of the company’s stock valued at $1,361,000 after buying an additional 79,964 shares in the last quarter. Finally, Creative Planning boosted its stake in Topgolf Callaway Brands by 6.8% in the 2nd quarter. Creative Planning now owns 22,201 shares of the company’s stock valued at $340,000 after buying an additional 1,415 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group lowered Topgolf Callaway Brands from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. TD Cowen cut their price objective on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, September 17th. Bank of America cut their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. B. Riley downgraded Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $12.00 in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group cut their price objective on Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Topgolf Callaway Brands currently has a consensus rating of “Hold” and a consensus price target of $15.31.

Topgolf Callaway Brands Trading Down 2.4 %

NYSE:MODG opened at $10.41 on Tuesday. Topgolf Callaway Brands Corp. has a 1-year low of $9.05 and a 1-year high of $16.89. The business’s 50-day moving average price is $10.58 and its two-hundred day moving average price is $13.63. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 6.42 and a beta of 1.75.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities analysts expect that Topgolf Callaway Brands Corp. will post 0.18 earnings per share for the current year.

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.