Topgolf Callaway Brands Corp. (NYSE:MODG) Stake Decreased by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 14.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,576,903 shares of the company’s stock after selling 433,187 shares during the quarter. Fisher Asset Management LLC owned about 1.40% of Topgolf Callaway Brands worth $36,953,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. North Star Investment Management Corp. increased its stake in Topgolf Callaway Brands by 57,166.7% during the 4th quarter. North Star Investment Management Corp. now owns 120,260 shares of the company’s stock valued at $1,725,000 after buying an additional 120,050 shares during the period. Vanguard Group Inc. raised its holdings in Topgolf Callaway Brands by 0.9% during the third quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company’s stock worth $187,636,000 after purchasing an additional 116,267 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Topgolf Callaway Brands by 422.9% during the fourth quarter. State of Alaska Department of Revenue now owns 87,406 shares of the company’s stock worth $1,253,000 after purchasing an additional 70,689 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in Topgolf Callaway Brands in the fourth quarter worth approximately $1,020,000. Finally, Thompson Investment Management Inc. boosted its stake in Topgolf Callaway Brands by 40.9% during the 4th quarter. Thompson Investment Management Inc. now owns 355,344 shares of the company’s stock valued at $5,096,000 after purchasing an additional 103,134 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total value of $72,750.00. Following the completion of the sale, the director now owns 777,959 shares in the company, valued at approximately $11,319,303.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Erik J. Anderson sold 2,028 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the sale, the director now owns 2,242 shares of the company’s stock, valued at approximately $33,159.18. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the completion of the transaction, the director now owns 777,959 shares in the company, valued at approximately $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MODG shares. Tigress Financial restated a “buy” rating and issued a $38.00 price objective on shares of Topgolf Callaway Brands in a report on Friday, April 12th. B. Riley upped their price target on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday. KeyCorp lowered their price objective on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Finally, Truist Financial raised their target price on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Topgolf Callaway Brands currently has an average rating of “Moderate Buy” and an average price target of $19.91.

Topgolf Callaway Brands Trading Down 0.9 %

Topgolf Callaway Brands stock opened at $16.00 on Friday. The company has a 50 day moving average price of $15.34 and a 200 day moving average price of $14.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.72. Topgolf Callaway Brands Corp. has a 52 week low of $9.84 and a 52 week high of $22.60. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 1.67 and a beta of 1.84.

Topgolf Callaway Brands (NYSE:MODG) last issued its earnings results on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. The business had revenue of $897.10 million during the quarter, compared to analysts’ expectations of $867.25 million. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. Topgolf Callaway Brands’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.27) earnings per share. Research analysts forecast that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current year.

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.