Empowered Funds LLC Boosts Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Empowered Funds LLC grew its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 325,106 shares of the company’s stock after purchasing an additional 15,857 shares during the quarter. Empowered Funds LLC owned 0.18% of Topgolf Callaway Brands worth $2,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MODG. Geode Capital Management LLC lifted its stake in Topgolf Callaway Brands by 0.7% in the third quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock worth $35,749,000 after acquiring an additional 22,003 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Topgolf Callaway Brands by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock worth $21,912,000 after acquiring an additional 148,451 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Topgolf Callaway Brands by 14.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company’s stock worth $14,828,000 after acquiring an additional 241,755 shares during the last quarter. LGT Capital Partners LTD. purchased a new position in Topgolf Callaway Brands in the third quarter worth approximately $6,588,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Topgolf Callaway Brands by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 355,256 shares of the company’s stock worth $3,901,000 after acquiring an additional 3,841 shares during the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MODG shares. JPMorgan Chase & Co. decreased their price target on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Truist Financial reduced their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group reduced their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. B. Riley downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $12.00 in a research report on Thursday, October 17th. Finally, Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.67.

Topgolf Callaway Brands Stock Performance

Shares of Topgolf Callaway Brands stock opened at $7.58 on Friday. The firm’s fifty day simple moving average is $8.06 and its 200-day simple moving average is $9.63. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -94.79 and a beta of 1.70. Topgolf Callaway Brands Corp. has a 12 month low of $7.13 and a 12 month high of $16.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14.

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.