Creative Planning Reduces Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Creative Planning lessened its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 35.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,256 shares of the company’s stock after selling 7,945 shares during the period. Creative Planning’s holdings in Topgolf Callaway Brands were worth $157,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp grew its position in Topgolf Callaway Brands by 327.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after purchasing an additional 1,936 shares during the last quarter. Dnca Finance purchased a new stake in Topgolf Callaway Brands during the 2nd quarter worth approximately $134,000. Koss Olinger Consulting LLC purchased a new stake in Topgolf Callaway Brands during the 2nd quarter worth approximately $160,000. Simon Quick Advisors LLC purchased a new stake in Topgolf Callaway Brands during the 2nd quarter worth approximately $161,000. Finally, QRG Capital Management Inc. purchased a new stake in shares of Topgolf Callaway Brands in the 1st quarter valued at $178,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on MODG shares. KeyCorp downgraded shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. The Goldman Sachs Group dropped their price objective on shares of Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Raymond James downgraded shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Jefferies Financial Group downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and lowered their price target for the stock from $40.00 to $12.00 in a report on Thursday, August 29th. Finally, Truist Financial lowered their price target on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.73.

Topgolf Callaway Brands Stock Performance

NYSE:MODG opened at $9.66 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93. The company has a fifty day moving average of $10.21 and a two-hundred day moving average of $12.98. The stock has a market capitalization of $1.78 billion, a PE ratio of 96.60, a P/E/G ratio of 6.18 and a beta of 1.75. Topgolf Callaway Brands Corp. has a fifty-two week low of $9.05 and a fifty-two week high of $16.89.

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.