US Bancorp DE Has $958,000 Stock Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

US Bancorp DE cut its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 9.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,917 shares of the company’s stock after selling 13,345 shares during the period. US Bancorp DE owned about 0.07% of Topgolf Callaway Brands worth $958,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Asset Planning Inc bought a new position in Topgolf Callaway Brands during the 4th quarter worth approximately $33,000. KBC Group NV raised its position in Topgolf Callaway Brands by 81.8% in the 4th 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. Quest Partners LLC purchased a new position in shares of Topgolf Callaway Brands in the 3rd quarter worth approximately $161,000. Paloma Partners Management Co bought a new position in Topgolf Callaway Brands in the 3rd quarter valued at $200,000. Finally, Prospera Financial Services Inc purchased a new position in Topgolf Callaway Brands in the third quarter valued at about $211,000. 84.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Topgolf Callaway Brands Stock Up 3.4 %

NYSE:MODG opened at $6.32 on Monday. 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 firm has a market cap of $1.16 billion, a P/E ratio of -78.93 and a beta of 1.70. Topgolf Callaway Brands Corp. has a fifty-two week low of $5.90 and a fifty-two week high of $16.89. The firm has a 50-day simple moving average of $7.69 and a two-hundred day simple moving average of $8.86.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings results 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. The company had revenue of $924.40 million during the quarter, compared to the consensus estimate of $1.13 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. Analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share 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.