Raymond James & Associates Buys 2,258 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Raymond James & Associates grew its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,827 shares of the company’s stock after buying an additional 2,258 shares during the quarter. Raymond James & Associates’ holdings in Topgolf Callaway Brands were worth $1,432,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new position in shares of Topgolf Callaway Brands during the first quarter valued at about $29,000. Advisory Services Network LLC purchased a new stake in shares of Topgolf Callaway Brands during the first quarter worth about $30,000. Harbour Investments Inc. boosted its holdings in shares of Topgolf Callaway Brands by 270,000.0% during 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 during the period. Advisors Asset Management Inc. purchased a new stake in shares of Topgolf Callaway Brands during the first quarter worth about $66,000. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of Topgolf Callaway Brands by 87.8% during 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 during the period. 84.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Raymond James increased their target price on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Tigress Financial reiterated a “buy” rating and set a $38.00 target price on shares of Topgolf Callaway Brands in a report on Friday, April 12th. Finally, KeyCorp dropped their target price on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.64.

Topgolf Callaway Brands Stock Performance

Shares of MODG opened at $15.60 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.72 and a quick ratio of 0.88. Topgolf Callaway Brands Corp. has a one year low of $9.84 and a one year high of $23.01. The company has a 50-day simple moving average of $15.04 and a two-hundred day simple moving average of $13.81. The firm has a market capitalization of $2.86 billion, a PE ratio of 33.91, a price-to-earnings-growth 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) 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. On average, analysts anticipate that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 2,242 shares of the company’s stock, valued at $33,159.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly 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. Insiders own 11.97% of the company’s stock.

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.