LGT Capital Partners LTD. Has $5.90 Million Stock Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

LGT Capital Partners LTD. boosted its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 25.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 750,789 shares of the company’s stock after purchasing an additional 150,789 shares during the period. LGT Capital Partners LTD. owned about 0.41% of Topgolf Callaway Brands worth $5,901,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Asset Planning Inc bought a new position in Topgolf Callaway Brands during the fourth quarter worth about $33,000. KBC Group NV raised its stake in shares of Topgolf Callaway Brands by 81.8% in the fourth quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after acquiring an additional 3,749 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Topgolf Callaway Brands by 170.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company’s stock valued at $108,000 after acquiring an additional 8,672 shares during the last quarter. Quest Partners LLC bought a new position in shares of Topgolf Callaway Brands in the third quarter valued at approximately $161,000. Finally, Augustine Asset Management Inc. raised its stake in shares of Topgolf Callaway Brands by 7.4% in the fourth quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company’s stock valued at $172,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Price Performance

MODG opened at $6.32 on Friday. The company has a fifty day moving average price of $7.69 and a two-hundred day moving average price of $8.88. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. Topgolf Callaway Brands Corp. has a 52 week low of $5.90 and a 52 week high of $16.89. The firm has a market capitalization of $1.16 billion, a PE ratio of -78.93 and a beta of 1.70.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The firm had revenue of $924.40 million during the quarter, compared to analyst estimates of $1.13 billion. As a group, analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MODG. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. The Goldman Sachs Group cut their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. JPMorgan Chase & Co. cut their target price 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 cut their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Roth Mkm reissued a “buy” rating and issued a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Two research 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.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.91.

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.