Price T Rowe Associates Inc. MD Raises Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Price T Rowe Associates Inc. MD increased its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 10.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 96,124 shares of the company’s stock after purchasing an additional 9,369 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Topgolf Callaway Brands were worth $756,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Asset Planning Inc bought a new position in shares of Topgolf Callaway Brands in the 4th quarter worth $33,000. Sterling Capital Management LLC raised its holdings in Topgolf Callaway Brands by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company’s stock worth $36,000 after purchasing an additional 4,050 shares in the last quarter. KBC Group NV lifted its position in shares of Topgolf Callaway Brands by 81.8% during the fourth quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after buying an additional 3,749 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Topgolf Callaway Brands by 147.2% in the 4th quarter. Covestor Ltd now owns 9,286 shares of the company’s stock valued at $73,000 after buying an additional 5,530 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Topgolf Callaway Brands in the 4th quarter worth approximately $83,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Wall Street Analyst Weigh In

MODG has been the subject of a number of analyst reports. Roth Mkm reissued a “buy” rating and set a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Truist Financial decreased their price objective on Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. dropped their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Topgolf Callaway Brands presently has an average rating of “Hold” and a consensus price target of $11.00.

Topgolf Callaway Brands Trading Up 2.4%

NYSE MODG opened at $7.35 on Monday. Topgolf Callaway Brands Corp. has a 12-month low of $5.42 and a 12-month high of $16.89. The company has a fifty day simple moving average of $6.44 and a two-hundred day simple moving average of $7.58. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.35 billion, a P/E ratio of -91.86 and a beta of 1.25.

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