Topgolf Callaway Brands Corp. (NYSE:MODG) Stock Holdings Lifted by Bwcp LP

Bwcp LP lifted its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 20.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,853,048 shares of the company’s stock after acquiring an additional 312,836 shares during the period. Topgolf Callaway Brands makes up approximately 7.1% of Bwcp LP’s investment portfolio, making the stock its 4th largest holding. Bwcp LP owned 1.01% of Topgolf Callaway Brands worth $28,352,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MODG. Vanguard Group Inc. lifted its position in Topgolf Callaway Brands by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock worth $250,383,000 after acquiring an additional 81,021 shares during the period. Dimensional Fund Advisors LP increased its holdings in Topgolf Callaway Brands by 21.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock worth $132,296,000 after buying an additional 1,549,222 shares during the period. American Century Companies Inc. raised its position in Topgolf Callaway Brands by 60.8% during the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock worth $48,634,000 after buying an additional 1,202,347 shares during the last quarter. Hodges Capital Management Inc. lifted its stake in Topgolf Callaway Brands by 5.6% during the 2nd quarter. Hodges Capital Management Inc. now owns 1,637,289 shares of the company’s stock valued at $25,051,000 after acquiring an additional 86,913 shares during the period. Finally, Granahan Investment Management LLC increased its stake in shares of Topgolf Callaway Brands by 1.5% in the fourth quarter. Granahan Investment Management LLC now owns 1,117,187 shares of the company’s stock worth $16,020,000 after acquiring an additional 16,299 shares during the period. Institutional investors and hedge funds own 84.69% of the company’s stock.

Wall Street Analyst Weigh In

MODG has been the topic of several recent research reports. Morgan Stanley lowered their price target on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group lowered Topgolf Callaway Brands from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $12.00 in a report on Thursday, August 29th. Roth Mkm restated a “buy” rating and issued a $17.00 price objective on shares of Topgolf Callaway Brands in a research report on Thursday, September 5th. TD Cowen cut their target price on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group lowered their price target on shares of Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Topgolf Callaway Brands has an average rating of “Hold” and an average target price of $16.00.

Topgolf Callaway Brands Stock Down 3.3 %

Shares of NYSE MODG opened at $10.25 on Wednesday. Topgolf Callaway Brands Corp. has a 52-week low of $9.05 and a 52-week high of $16.89. The company has a quick ratio of 1.15, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company’s 50-day simple moving average is $12.21 and its 200-day simple moving average is $14.27. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 6.08 and a beta of 1.75.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.14. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company posted $0.39 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. Equities analysts predict that Topgolf Callaway Brands Corp. will post 0.18 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.