Sterneck Capital Management LLC Boosts Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Sterneck Capital Management LLC raised its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 31.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,672 shares of the company’s stock after purchasing an additional 6,786 shares during the period. Sterneck Capital Management LLC’s holdings in Topgolf Callaway Brands were worth $225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Koss Olinger Consulting LLC purchased a new stake in Topgolf Callaway Brands during the 2nd quarter worth approximately $160,000. nVerses Capital LLC purchased a new stake in shares of Topgolf Callaway Brands during the third quarter valued at $133,000. XTX Topco Ltd acquired a new position in shares of Topgolf Callaway Brands in the 2nd quarter valued at $218,000. Quest Partners LLC purchased a new position in Topgolf Callaway Brands in the 3rd quarter worth $161,000. Finally, Algert Global LLC acquired a new stake in Topgolf Callaway Brands during the 2nd quarter worth about $226,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock opened at $8.92 on Wednesday. The firm has a market cap of $1.64 billion, a PE ratio of -111.49, a P/E/G ratio of 5.62 and a beta of 1.70. The business has a 50-day moving average price of $8.52 and a 200 day moving average price of $10.91. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands Corp. has a twelve month low of $7.22 and a twelve month high of $16.89.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Bank of America cut their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Truist Financial cut their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. Roth Mkm reiterated a “buy” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Topgolf Callaway Brands presently has a consensus rating of “Hold” and an average price target of $14.83.

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.