Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,557,515 shares of the company’s stock after acquiring an additional 116,267 shares during the period. Vanguard Group Inc. owned about 7.35% of Topgolf Callaway Brands worth $187,636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Shapiro Capital Management LLC grew its holdings in shares of Topgolf Callaway Brands by 651.6% during the third quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company’s stock worth $133,683,000 after buying an additional 8,373,946 shares in the last quarter. Geode Capital Management LLC purchased a new stake in Topgolf Callaway Brands in the first quarter valued at approximately $57,769,000. Marshall Wace LLP grew its holdings in Topgolf Callaway Brands by 652.0% in the second quarter. Marshall Wace LLP now owns 2,234,087 shares of the company’s stock valued at $44,347,000 after purchasing an additional 1,936,994 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Topgolf Callaway Brands in the first quarter valued at approximately $27,446,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Topgolf Callaway Brands in the first quarter valued at approximately $26,463,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. KeyCorp decreased their price objective on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Raymond James boosted their price objective on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Topgolf Callaway Brands has an average rating of “Hold” and a consensus target price of $18.90.

Topgolf Callaway Brands Trading Up 0.2 %

NYSE MODG opened at $16.17 on Monday. The stock has a market cap of $2.97 billion, a P/E ratio of 35.15, a PEG ratio of 1.73 and a beta of 1.86. The company’s fifty day simple moving average is $14.32 and its 200-day simple moving average is $13.65. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. Topgolf Callaway Brands Corp. has a 52 week low of $9.84 and a 52 week high of $23.01.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. The firm had revenue of $897.10 million for the quarter, compared to analysts’ expectations of $867.25 million. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.27) earnings per share. Equities research analysts predict that Topgolf Callaway Brands Corp. will post 0.28 EPS for the current fiscal year.

Insider Activity at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the sale, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.79, for a total transaction of $29,994.12. Following the completion of the sale, the director now owns 2,242 shares in the company, valued at $33,159.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total transaction of $72,750.00. Following the transaction, the director now owns 777,959 shares of the company’s stock, valued at approximately $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is currently owned by corporate insiders.

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.