New York State Common Retirement Fund Has $350,000 Stock Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

New York State Common Retirement Fund reduced its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 63.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,514 shares of the company’s stock after selling 78,643 shares during the period. New York State Common Retirement Fund’s holdings in Topgolf Callaway Brands were worth $350,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in Topgolf Callaway Brands by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 686,480 shares of the company’s stock worth $5,396,000 after buying an additional 19,257 shares during the last quarter. Asset Planning Inc acquired a new stake in shares of Topgolf Callaway Brands in the 4th quarter valued at approximately $33,000. Augustine Asset Management Inc. boosted its stake 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 worth $172,000 after acquiring an additional 1,500 shares during the last quarter. Thompson Investment Management Inc. grew its holdings in Topgolf Callaway Brands by 11.1% during the fourth quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company’s stock valued at $2,848,000 after purchasing an additional 36,201 shares during the period. Finally, Empowered Funds LLC increased its stake in Topgolf Callaway Brands by 5.1% in the fourth quarter. Empowered Funds LLC now owns 325,106 shares of the company’s stock valued at $2,555,000 after purchasing an additional 15,857 shares in the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Trading Down 2.0 %

NYSE MODG opened at $6.09 on Wednesday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -76.05 and a beta of 1.70. Topgolf Callaway Brands Corp. has a 52 week low of $5.95 and a 52 week high of $16.89. The stock’s 50 day moving average price is $7.79 and its two-hundred day moving average price is $8.98. 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 (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 analysts’ expectations 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.

Analyst Upgrades and Downgrades

MODG has been the topic of a number of recent analyst reports. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Truist Financial decreased their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Roth Mkm reiterated a “buy” rating and set a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Topgolf Callaway Brands presently has a consensus rating of “Hold” and a consensus target price of $13.91.

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.