New York State Common Retirement Fund Purchases 1,406 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

New York State Common Retirement Fund raised its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,700 shares of the company’s stock after purchasing an additional 1,406 shares during the period. New York State Common Retirement Fund owned 0.09% of Topgolf Callaway Brands worth $2,390,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Shapiro Capital Management LLC raised its position in shares of Topgolf Callaway Brands by 651.6% during the 3rd quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company’s stock valued at $133,683,000 after buying an additional 8,373,946 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Topgolf Callaway Brands during the 4th quarter valued at $9,412,000. First Dallas Securities Inc. raised its position in shares of Topgolf Callaway Brands by 1,004.7% during the 3rd quarter. First Dallas Securities Inc. now owns 611,466 shares of the company’s stock valued at $8,463,000 after buying an additional 556,116 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Topgolf Callaway Brands during the 3rd quarter valued at $3,963,000. Finally, Lazard Asset Management LLC raised its position in Topgolf Callaway Brands by 1,173.8% in the 3rd quarter. Lazard Asset Management LLC now owns 296,638 shares of the company’s stock worth $4,105,000 after purchasing an additional 273,350 shares during the period. 84.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MODG. B. Riley raised their price objective on Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Tigress Financial reaffirmed a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. KeyCorp dropped 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. Finally, Truist Financial lifted their target price on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.91.

Insider Activity

In other news, Director Erik J. Anderson sold 2,028 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the transaction, the director now owns 2,242 shares in the company, valued at approximately $33,159.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Erik J. Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 777,959 shares in the company, valued at approximately $11,319,303.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Erik J. Anderson sold 2,028 shares of Topgolf Callaway Brands stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the transaction, the director now owns 2,242 shares of the company’s stock, valued at approximately $33,159.18. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by company insiders.

Topgolf Callaway Brands Stock Up 1.0 %

Shares of NYSE MODG opened at $16.62 on Wednesday. The firm has a fifty day simple moving average of $15.39 and a two-hundred day simple moving average of $14.03. Topgolf Callaway Brands Corp. has a 12 month low of $9.84 and a 12 month high of $22.41. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $3.05 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 1.67 and a beta of 1.84.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The business had revenue of $897.10 million during the quarter, compared to analyst estimates of $867.25 million. During the same period last year, the business posted ($0.27) earnings per share. Topgolf Callaway Brands’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that Topgolf Callaway Brands Corp. will post 0.29 earnings per share for the current year.

About Topgolf Callaway Brands

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.