Topgolf Callaway Brands Corp. (NYSE:MODG) Stock Holdings Lowered by Geode Capital Management LLC

Geode Capital Management LLC decreased its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,220,445 shares of the company’s stock after selling 34,787 shares during the quarter. Geode Capital Management LLC’s holdings in Topgolf Callaway Brands were worth $25,319,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MML Investors Services LLC lifted its holdings in shares of Topgolf Callaway Brands by 25.3% in the third quarter. MML Investors Services LLC now owns 93,897 shares of the company’s stock valued at $1,031,000 after purchasing an additional 18,988 shares in the last quarter. Boyar Asset Management Inc. increased its position in Topgolf Callaway Brands by 17.5% in the 3rd quarter. Boyar Asset Management Inc. now owns 104,540 shares of the company’s stock worth $1,148,000 after purchasing an additional 15,532 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Topgolf Callaway Brands by 35.7% during the 3rd quarter. Tidal Investments LLC now owns 22,302 shares of the company’s stock worth $245,000 after purchasing an additional 5,862 shares in the last quarter. Sterneck Capital Management LLC lifted its stake in Topgolf Callaway Brands by 31.0% in the fourth quarter. Sterneck Capital Management LLC now owns 28,672 shares of the company’s stock valued at $225,000 after acquiring an additional 6,786 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake 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 valued at $14,828,000 after purchasing an additional 241,755 shares during the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Trading Down 0.1 %

NYSE MODG opened at $6.15 on Friday. The stock’s 50 day moving average price is $6.51 and its two-hundred day moving average price is $8.01. 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 $1.13 billion, a price-to-earnings ratio of -76.80 and a beta of 1.47. Topgolf Callaway Brands Corp. has a 52 week low of $5.42 and a 52 week high of $16.89.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MODG shares. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. Truist Financial lowered their price target on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. decreased their price target 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. Finally, Roth Mkm reiterated a “buy” rating and set a $11.00 price objective (down from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.00.

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.