American Century Companies Inc. Sells 623,045 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

American Century Companies Inc. trimmed its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 19.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,603,547 shares of the company’s stock after selling 623,045 shares during the period. American Century Companies Inc. owned about 1.42% of Topgolf Callaway Brands worth $20,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Asset Planning Inc purchased a new stake in shares of Topgolf Callaway Brands during the 4th quarter worth $33,000. KBC Group NV raised its holdings in 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 purchasing an additional 3,749 shares in the last quarter. Xponance Inc. purchased a new stake in shares of Topgolf Callaway Brands during the fourth quarter valued at about $87,000. Cibc World Markets Corp bought a new stake in shares of Topgolf Callaway Brands in the 4th quarter valued at about $104,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Topgolf Callaway Brands by 170.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company’s stock worth $108,000 after buying an additional 8,672 shares during the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Wall Street Analyst Weigh In

MODG has been the subject of a number of analyst reports. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and increased their target price for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lowered their price objective on 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. Truist Financial reduced their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Roth Mkm restated a “buy” rating and set 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 equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.91.

Topgolf Callaway Brands Stock Performance

MODG opened at $6.52 on Monday. The firm has a 50 day moving average of $7.10 and a two-hundred day moving average of $8.44. The firm has a market capitalization of $1.20 billion, a PE ratio of -81.43 and a beta of 1.70. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands Corp. has a 12-month low of $5.59 and a 12-month high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current 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.