Hsbc Holdings PLC Grows Stock Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Hsbc Holdings PLC lifted its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 16.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,151 shares of the company’s stock after acquiring an additional 5,209 shares during the quarter. Hsbc Holdings PLC’s holdings in Topgolf Callaway Brands were worth $567,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MODG. Dimensional Fund Advisors LP lifted its holdings in Topgolf Callaway Brands by 21.8% in the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock valued at $132,296,000 after acquiring an additional 1,549,222 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Topgolf Callaway Brands by 18.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 236,597 shares of the company’s stock valued at $3,620,000 after purchasing an additional 37,376 shares during the period. American Century Companies Inc. boosted its holdings in Topgolf Callaway Brands by 60.8% during the second quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock worth $48,634,000 after buying an additional 1,202,347 shares in the last quarter. Koss Olinger Consulting LLC acquired a new stake in Topgolf Callaway Brands during the second quarter valued at $160,000. Finally, FineMark National Bank & Trust increased its holdings in Topgolf Callaway Brands by 6.1% in the second quarter. FineMark National Bank & Trust now owns 523,876 shares of the company’s stock valued at $8,015,000 after buying an additional 29,901 shares in the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Up 0.7 %

MODG stock opened at $10.98 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $11.81 and a two-hundred day moving average of $14.18. Topgolf Callaway Brands Corp. has a 12 month low of $9.05 and a 12 month high of $16.89. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 6.81 and a beta of 1.74.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.28 by $0.14. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. As a group, analysts forecast that Topgolf Callaway Brands Corp. will post 0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MODG shares. The Goldman Sachs Group lowered their target price on shares of Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. KeyCorp lowered Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. Jefferies Financial Group downgraded Topgolf Callaway Brands from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $12.00 in a research note on Thursday, August 29th. Roth Mkm reissued a “buy” rating and issued a $17.00 price target on shares of Topgolf Callaway Brands in a report on Thursday, September 5th. Finally, Truist Financial decreased their price objective on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Topgolf Callaway Brands presently has a consensus rating of “Hold” and an average target price of $16.00.

Topgolf Callaway Brands 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.