Bank of New York Mellon Corp Has $7.49 Million Holdings in Topgolf Callaway Brands Corp. $MODG

Bank of New York Mellon Corp trimmed its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 930,403 shares of the company’s stock after selling 8,390 shares during the period. Bank of New York Mellon Corp owned about 0.51% of Topgolf Callaway Brands worth $7,490,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MODG. Signaturefd LLC lifted its holdings in Topgolf Callaway Brands by 1,669.0% during the 2nd quarter. Signaturefd LLC now owns 3,078 shares of the company’s stock worth $25,000 after buying an additional 2,904 shares during the period. GAMMA Investing LLC bought a new position in shares of Topgolf Callaway Brands during the second quarter worth about $36,000. CWM LLC lifted its stake in shares of Topgolf Callaway Brands by 124.0% in the second quarter. CWM LLC now owns 4,679 shares of the company’s stock worth $38,000 after acquiring an additional 2,590 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Topgolf Callaway Brands by 24.6% in the second quarter. Public Employees Retirement System of Ohio now owns 6,275 shares of the company’s stock valued at $51,000 after acquiring an additional 1,240 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in Topgolf Callaway Brands in the second quarter valued at approximately $53,000. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Stock Up 4.0%

Topgolf Callaway Brands stock opened at $9.74 on Friday. The company has a market capitalization of $1.79 billion, a PE ratio of -1.20 and a beta of 1.19. Topgolf Callaway Brands Corp. has a 12-month low of $5.42 and a 12-month high of $11.60. The firm’s fifty day moving average is $9.60 and its 200 day moving average is $8.79. The company has a quick ratio of 1.25, a current ratio of 1.85 and a debt-to-equity ratio of 0.48.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.16. Topgolf Callaway Brands had a negative net margin of 36.08% and a positive return on equity of 0.37%. The firm had revenue of $465.30 million during the quarter, compared to the consensus estimate of $903.96 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The business’s revenue was down 7.8% compared to the same quarter last year. Topgolf Callaway Brands has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side analysts predict that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MODG shares. Truist Financial raised their price target on shares of Topgolf Callaway Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Roth Capital restated a “buy” rating and issued a $14.00 target price on shares of Topgolf Callaway Brands in a report on Wednesday. Zacks Research cut shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, B. Riley reiterated a “neutral” rating and set a $11.00 price target (up from $9.50) on shares of Topgolf Callaway Brands in a report on Monday, November 10th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.06.

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.