Arizona State Retirement System Decreases Stake in Topgolf Callaway Brands Corp. (NYSE:MODG)

Arizona State Retirement System lowered its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,479 shares of the company’s stock after selling 798 shares during the period. Arizona State Retirement System’s holdings in Topgolf Callaway Brands were worth $595,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. increased its stake in shares of Topgolf Callaway Brands by 2.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 38,792 shares of the company’s stock worth $537,000 after purchasing an additional 1,010 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Topgolf Callaway Brands during the 1st quarter worth approximately $29,000. Advisory Services Network LLC bought a new position in Topgolf Callaway Brands in the 1st quarter worth approximately $30,000. Creative Planning boosted its holdings in Topgolf Callaway Brands by 10.0% in the 3rd quarter. Creative Planning now owns 15,350 shares of the company’s stock worth $212,000 after buying an additional 1,390 shares during the period. Finally, Wolff Wiese Magana LLC boosted its holdings in Topgolf Callaway Brands by 87.8% in the 3rd quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock worth $46,000 after buying an additional 1,551 shares during the period. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Up 1.2 %

Shares of NYSE:MODG opened at $15.60 on Friday. The firm has a fifty day moving average price of $15.04 and a two-hundred day moving average price of $13.81. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.72 and a quick ratio of 0.88. Topgolf Callaway Brands Corp. has a one year low of $9.84 and a one year high of $23.01. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 1.67 and a beta of 1.87.

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. Tigress Financial reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Topgolf Callaway Brands in a report on Friday, April 12th. Raymond James raised their price objective on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, KeyCorp cut their price objective on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. One research 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 MarketBeat, Topgolf Callaway Brands currently has an average rating of “Moderate Buy” and an average price target of $20.64.

Insider Transactions at Topgolf Callaway Brands

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

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.