Prudential Financial Inc. Has $1.25 Million Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Prudential Financial Inc. trimmed its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 11.4% in the fourth quarter, HoldingsChannel reports. The firm owned 145,848 shares of the company’s stock after selling 18,773 shares during the period. Prudential Financial Inc.’s holdings in Topgolf Callaway Brands were worth $1,246,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Requisite Capital Management LLC acquired a new position in Topgolf Callaway Brands during the 4th quarter worth $2,426,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Topgolf Callaway Brands by 14.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company’s stock valued at $17,974,000 after purchasing an additional 291,052 shares during the period. Harbor Capital Advisors Inc. boosted its position 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 worth $14,828,000 after purchasing an additional 241,755 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Topgolf Callaway Brands by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 15,860,996 shares of the company’s stock worth $124,667,000 after purchasing an additional 224,578 shares during the period. Finally, Prescott Group Capital Management L.L.C. bought a new stake in Topgolf Callaway Brands in the fourth quarter valued at about $1,596,000. Institutional investors own 84.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MODG shares. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Truist Financial cut their target price 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, January 7th. Finally, Roth Mkm reissued a “buy” rating and issued a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.91.

Topgolf Callaway Brands Stock Up 3.9 %

NYSE:MODG opened at $6.26 on Monday. The company has a market cap of $1.15 billion, a PE ratio of -78.18 and a beta of 1.47. The stock has a 50-day simple moving average of $6.92 and a 200 day simple moving average of $8.31. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. Topgolf Callaway Brands Corp. has a 52-week low of $5.45 and a 52-week high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.07. The company had revenue of $924.40 million during the quarter, compared to analysts’ expectations of $1.13 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. On average, sell-side analysts expect that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

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.