Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by GM Advisory Group LLC

GM Advisory Group LLC trimmed its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 29.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,205 shares of the company’s stock after selling 26,085 shares during the quarter. GM Advisory Group LLC’s holdings in Topgolf Callaway Brands were worth $481,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Topgolf Callaway Brands by 0.7% in the third quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock valued at $35,749,000 after acquiring an additional 22,003 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Topgolf Callaway Brands by 14.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company’s stock worth $17,974,000 after purchasing an additional 291,052 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Topgolf Callaway Brands by 14.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company’s stock valued at $14,828,000 after purchasing an additional 241,755 shares in the last quarter. LGT Capital Partners LTD. lifted its stake in shares of Topgolf Callaway Brands by 25.1% in the fourth quarter. LGT Capital Partners LTD. now owns 750,789 shares of the company’s stock valued at $5,901,000 after purchasing an additional 150,789 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Topgolf Callaway Brands by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 686,480 shares of the company’s stock worth $5,396,000 after buying an additional 19,257 shares in the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on MODG. Roth Mkm reaffirmed a “buy” rating and issued a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Finally, Truist Financial dropped their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Topgolf Callaway Brands currently has an average rating of “Hold” and an average price target of $13.91.

Topgolf Callaway Brands Trading Up 4.3 %

Topgolf Callaway Brands stock opened at $6.50 on Thursday. The stock has a 50-day moving average price of $7.31 and a 200 day moving average price of $8.62. Topgolf Callaway Brands Corp. has a 52 week low of $5.59 and a 52 week high of $16.89. The stock has a market cap of $1.19 billion, a PE ratio of -81.18 and a beta of 1.70. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The business had revenue of $924.40 million during the quarter, compared to analyst estimates of $1.13 billion. Equities research analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

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.