Geode Capital Management LLC Cuts Stock Holdings in Topgolf Callaway Brands Corp. $MODG

Geode Capital Management LLC cut its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 3.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,213,866 shares of the company’s stock after selling 129,205 shares during the period. Geode Capital Management LLC owned 1.75% of Topgolf Callaway Brands worth $25,874,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MODG. 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. Jump Financial LLC raised its holdings in shares of Topgolf Callaway Brands by 3.1% in the 1st quarter. Jump Financial LLC now owns 75,685 shares of the company’s stock worth $499,000 after purchasing an additional 2,265 shares during the period. Covestor Ltd lifted its stake in shares of Topgolf Callaway Brands by 26.9% in the 1st quarter. Covestor Ltd now owns 11,785 shares of the company’s stock valued at $78,000 after purchasing an additional 2,499 shares in the last quarter. CWM LLC lifted its stake in shares of Topgolf Callaway Brands by 124.0% in the 2nd quarter. CWM LLC now owns 4,679 shares of the company’s stock valued at $38,000 after purchasing an additional 2,590 shares in the last quarter. Finally, TrueWealth Advisors LLC grew its holdings in shares of Topgolf Callaway Brands by 13.0% during the 2nd quarter. TrueWealth Advisors LLC now owns 23,050 shares of the company’s stock worth $186,000 after purchasing an additional 2,650 shares during the period. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Topgolf Callaway Brands in a report on Monday. UBS Group reissued a “neutral” rating and issued a $11.00 target price on shares of Topgolf Callaway Brands in a research note on Monday. JPMorgan Chase & Co. upped their price target on shares of Topgolf Callaway Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Roth Capital reiterated a “buy” rating and issued a $14.00 price target on shares of Topgolf Callaway Brands in a report on Wednesday, November 19th. Finally, B. Riley restated a “neutral” rating and set a $11.00 price objective (up previously from $9.50) on shares of Topgolf Callaway Brands in a research note on Monday, November 10th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Topgolf Callaway Brands has an average rating of “Hold” and an average price target of $11.17.

Topgolf Callaway Brands Stock Performance

NYSE:MODG opened at $12.81 on Friday. The firm has a 50-day moving average of $9.89 and a two-hundred day moving average of $8.99. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 1.25. The stock has a market cap of $2.36 billion, a P/E ratio of -1.58 and a beta of 1.19. Topgolf Callaway Brands Corp. has a 1-year low of $5.42 and a 1-year high of $13.00.

Topgolf Callaway Brands (NYSE:MODG) last announced its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.16. The business had revenue of $465.30 million for the quarter, compared to analyst estimates of $903.96 million. Topgolf Callaway Brands had a positive return on equity of 0.37% and a negative net margin of 36.08%.The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 earnings per share. Topgolf Callaway Brands has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. On average, research analysts expect that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

About Topgolf Callaway Brands

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.