Swiss National Bank Decreases Stake in Topgolf Callaway Brands Corp. (NYSE:MODG)

Swiss National Bank decreased its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 6.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 271,100 shares of the company’s stock after selling 17,800 shares during the period. Swiss National Bank owned approximately 0.15% of Topgolf Callaway Brands worth $2,131,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Asset Planning Inc acquired a new position in shares of Topgolf Callaway Brands during the 4th quarter valued at $33,000. KBC Group NV boosted its position in shares of Topgolf Callaway Brands by 81.8% in the fourth 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. PNC Financial Services Group Inc. grew its stake in shares of Topgolf Callaway Brands by 170.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company’s stock valued at $108,000 after buying an additional 8,672 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Topgolf Callaway Brands during the 3rd quarter valued at about $161,000. Finally, Augustine Asset Management Inc. lifted 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 worth $172,000 after acquiring an additional 1,500 shares in the last quarter. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial lowered 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. dropped their price target on shares of 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. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Finally, Roth Mkm reiterated a “buy” rating and issued a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.91.

Topgolf Callaway Brands Trading Up 1.7 %

Shares of NYSE MODG opened at $6.91 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average price is $7.13 and its two-hundred day moving average price is $8.48. Topgolf Callaway Brands Corp. has a 52-week low of $5.59 and a 52-week high of $16.89. The stock has a market capitalization of $1.27 billion, a P/E ratio of -86.33 and a beta of 1.70.

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

Topgolf Callaway Brands Company 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.