US Bancorp DE Sells 13,345 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

US Bancorp DE lessened its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 9.9% in the fourth quarter, HoldingsChannel reports. The firm owned 121,917 shares of the company’s stock after selling 13,345 shares during the period. US Bancorp DE’s holdings in Topgolf Callaway Brands were worth $958,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Topgolf Callaway Brands by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock worth $21,912,000 after purchasing an additional 148,451 shares during the period. Thompson Investment Management Inc. increased its holdings in Topgolf Callaway Brands by 11.1% during the fourth quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company’s stock valued at $2,848,000 after buying an additional 36,201 shares during the last quarter. PDT Partners LLC bought a new position in Topgolf Callaway Brands in the third quarter worth approximately $1,934,000. Empowered Funds LLC purchased a new position in shares of Topgolf Callaway Brands during the 3rd quarter worth $3,396,000. Finally, Requisite Capital Management LLC bought a new stake in shares of Topgolf Callaway Brands during the 4th quarter valued at $2,426,000. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial decreased their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Roth Mkm reaffirmed a “buy” rating and issued a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their target price for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. Finally, The Goldman Sachs Group dropped their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. 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’s stock. According to data from MarketBeat.com, Topgolf Callaway Brands has an average rating of “Hold” and an average target price of $13.91.

Topgolf Callaway Brands Stock Performance

MODG opened at $6.32 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -78.93 and a beta of 1.70. The company has a fifty day moving average of $7.69 and a 200 day moving average of $8.86. Topgolf Callaway Brands Corp. has a fifty-two week low of $5.90 and a fifty-two week high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last issued 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. The firm had revenue of $924.40 million during the quarter, compared to analyst estimates of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. As a group, sell-side analysts forecast 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.