Principal Financial Group Inc. Has $5.40 Million Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Principal Financial Group Inc. raised its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 686,480 shares of the company’s stock after purchasing an additional 19,257 shares during the quarter. Principal Financial Group Inc. owned approximately 0.37% of Topgolf Callaway Brands worth $5,396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Augustine Asset Management Inc. increased its position in Topgolf Callaway Brands by 7.4% during the 4th quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company’s stock valued at $172,000 after purchasing an additional 1,500 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Topgolf Callaway Brands by 7.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company’s stock worth $293,000 after buying an additional 2,712 shares during the period. KBC Group NV grew its position in shares of Topgolf Callaway Brands by 81.8% during the 4th quarter. KBC Group NV now owns 8,330 shares of the company’s stock worth $65,000 after buying an additional 3,749 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Topgolf Callaway Brands by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 355,256 shares of the company’s stock worth $3,901,000 after buying an additional 3,841 shares during the period. Finally, Asset Planning Inc acquired a new stake in shares of Topgolf Callaway Brands during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Performance

NYSE MODG opened at $6.23 on Tuesday. 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 company has a fifty day simple moving average of $7.83 and a 200 day simple moving average of $9.02. Topgolf Callaway Brands Corp. has a 12-month low of $6.11 and a 12-month high of $16.89. The company has a market cap of $1.15 billion, a P/E ratio of -77.87 and a beta of 1.70.

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 the consensus estimate 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 business had revenue of $924.40 million for the quarter, compared to analysts’ expectations of $1.13 billion. Sell-side analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.