Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Acquired by Raymond James & Associates

Raymond James & Associates lifted its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,827 shares of the company’s stock after acquiring an additional 2,258 shares during the period. Raymond James & Associates owned about 0.05% of Topgolf Callaway Brands worth $1,432,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Topgolf Callaway Brands during the 1st quarter valued at approximately $29,000. Advisory Services Network LLC bought a new position in shares of Topgolf Callaway Brands in the first quarter worth $30,000. Wolff Wiese Magana LLC grew its stake in shares of Topgolf Callaway Brands by 87.8% in the third quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock worth $46,000 after purchasing an additional 1,551 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Topgolf Callaway Brands by 270,000.0% in the second quarter. Harbour Investments Inc. now owns 2,701 shares of the company’s stock worth $54,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new position in Topgolf Callaway Brands during the first quarter valued at about $66,000. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Trading Up 1.2 %

Shares of MODG opened at $15.60 on Friday. The stock has a fifty day moving average price of $15.04 and a two-hundred day moving average price of $13.81. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.72. Topgolf Callaway Brands Corp. has a 52-week low of $9.84 and a 52-week high of $23.01. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 1.67 and a beta of 1.87.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $867.25 million. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.27) EPS. Analysts predict that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current fiscal year.

Insider Transactions at Topgolf Callaway Brands

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. KeyCorp reduced their price objective on 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 raised their target price on Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, Tigress Financial reissued a “buy” rating and set a $38.00 price objective on shares of Topgolf Callaway Brands in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Topgolf Callaway Brands presently has a consensus rating of “Moderate Buy” and an average target price of $20.64.

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.