Mutual of America Capital Management LLC Sells 1,946 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Mutual of America Capital Management LLC cut its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 8.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,287 shares of the company’s stock after selling 1,946 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Topgolf Callaway Brands were worth $234,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its holdings in Topgolf Callaway Brands by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 71,100 shares of the company’s stock worth $1,088,000 after purchasing an additional 700 shares during the period. Creative Planning lifted its holdings in Topgolf Callaway Brands by 6.8% during the second quarter. Creative Planning now owns 22,201 shares of the company’s stock worth $340,000 after acquiring an additional 1,415 shares in the last quarter. SG Americas Securities LLC grew its stake in Topgolf Callaway Brands by 5.2% in the second quarter. SG Americas Securities LLC now owns 36,961 shares of the company’s stock valued at $566,000 after acquiring an additional 1,819 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Topgolf Callaway Brands by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock worth $1,200,000 after acquiring an additional 1,888 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Topgolf Callaway Brands by 327.6% during the second 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 period. Institutional investors and hedge funds own 84.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Truist Financial reduced their target price on shares of Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. TD Cowen decreased their price objective on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, September 17th. Morgan Stanley cut their target price on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Thursday, August 8th. KeyCorp cut shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group lowered shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.92.

Topgolf Callaway Brands Stock Up 1.4 %

MODG opened at $8.42 on Friday. The stock has a fifty day moving average of $9.72 and a 200-day moving average of $12.30. The company has a market capitalization of $1.55 billion, a P/E ratio of -105.24, a P/E/G ratio of 5.64 and a beta of 1.75. Topgolf Callaway Brands Corp. has a fifty-two week low of $7.95 and a fifty-two week high of $16.89. 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 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.