Natixis Investment Managers International Has $74,000 Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Natixis Investment Managers International reduced its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 25.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,589 shares of the company’s stock after selling 1,557 shares during the quarter. Natixis Investment Managers International’s holdings in Topgolf Callaway Brands were worth $74,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Topgolf Callaway Brands by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock worth $250,383,000 after purchasing an additional 81,021 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Topgolf Callaway Brands by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,577,637 shares of the company’s stock worth $22,623,000 after buying an additional 159,912 shares during the period. Granahan Investment Management LLC increased its position in Topgolf Callaway Brands by 1.5% in the 4th quarter. Granahan Investment Management LLC now owns 1,117,187 shares of the company’s stock worth $16,020,000 after buying an additional 16,299 shares during the period. Principal Financial Group Inc. increased its position in Topgolf Callaway Brands by 37.9% in the 4th quarter. Principal Financial Group Inc. now owns 740,736 shares of the company’s stock worth $10,622,000 after buying an additional 203,481 shares during the period. Finally, Norges Bank bought a new position in Topgolf Callaway Brands in the 4th quarter worth approximately $10,467,000. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Stock Performance

Shares of NYSE MODG traded up $0.06 during trading hours on Thursday, reaching $15.62. The stock had a trading volume of 1,564,983 shares, compared to its average volume of 2,212,167. The business’s fifty day moving average is $15.16 and its two-hundred day moving average is $14.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.82 and a quick ratio of 1.02. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 42.20, a PEG ratio of 2.59 and a beta of 1.77. Topgolf Callaway Brands Corp. has a twelve month low of $9.84 and a twelve month high of $20.14.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.08. Topgolf Callaway Brands had a return on equity of 1.93% and a net margin of 1.80%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company posted $0.17 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts expect that Topgolf Callaway Brands Corp. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Tigress Financial reaffirmed a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. B. Riley lifted their price target on Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Truist Financial lifted their price target on Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Finally, TD Cowen lifted their price target on Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Topgolf Callaway Brands currently has an average rating of “Hold” and an average price target of $19.33.

Insiders Place Their Bets

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 7,500 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total transaction of $115,275.00. Following the completion of the transaction, the director now directly owns 760,459 shares in the company, valued at $11,688,254.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Erik J. Anderson sold 10,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $15.19, for a total transaction of $151,900.00. Following the sale, the director now owns 767,959 shares in the company, valued at $11,665,297.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erik J. Anderson sold 7,500 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total value of $115,275.00. Following the sale, the director now owns 760,459 shares in the company, valued at approximately $11,688,254.83. The disclosure for this sale can be found here. Corporate insiders own 2.49% of the company’s stock.

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.