Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,860,996 shares of the company’s stock after purchasing an additional 224,578 shares during the period. Vanguard Group Inc. owned approximately 8.63% of Topgolf Callaway Brands worth $124,667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Requisite Capital Management LLC acquired a new stake in shares of Topgolf Callaway Brands in the fourth quarter valued at $2,426,000. Charles Schwab Investment Management Inc. lifted its holdings in Topgolf Callaway Brands by 14.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company’s stock valued at $17,974,000 after acquiring an additional 291,052 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Topgolf Callaway Brands by 14.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company’s stock valued at $14,828,000 after acquiring an additional 241,755 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new position in shares of Topgolf Callaway Brands during the 4th quarter valued at about $1,596,000. Finally, LGT Capital Partners LTD. grew its stake in shares of Topgolf Callaway Brands by 25.1% in the 4th quarter. LGT Capital Partners LTD. now owns 750,789 shares of the company’s stock worth $5,901,000 after purchasing an additional 150,789 shares during the last quarter. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Stock Down 3.2 %

Shares of NYSE:MODG opened at $5.53 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.02 billion, a P/E ratio of -69.05 and a beta of 1.47. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $16.89. The company’s 50-day moving average price is $6.77 and its two-hundred day moving average price is $8.22.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate 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 business had revenue of $924.40 million for the quarter, compared to analysts’ expectations of $1.13 billion. As a group, research analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MODG shares. Roth Mkm reiterated a “buy” rating and set a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and upped their target price for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Finally, 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 note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.