Motley Fool Wealth Management LLC Purchases New Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Motley Fool Wealth Management LLC bought a new position in Topgolf Callaway Brands Corp. (NYSE:MODG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 463,973 shares of the company’s stock, valued at approximately $6,659,000. Motley Fool Wealth Management LLC owned about 0.25% of Topgolf Callaway Brands at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Truist Financial Corp purchased a new stake in Topgolf Callaway Brands in the fourth quarter worth $254,000. Motley Fool Asset Management LLC increased its position in Topgolf Callaway Brands by 8.7% in the fourth quarter. Motley Fool Asset Management LLC now owns 89,206 shares of the company’s stock worth $1,279,000 after buying an additional 7,164 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Topgolf Callaway Brands by 45.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 203,621 shares of the company’s stock worth $2,920,000 after buying an additional 63,268 shares during the last quarter. Yousif Capital Management LLC increased its position in Topgolf Callaway Brands by 5.5% in the fourth quarter. Yousif Capital Management LLC now owns 70,504 shares of the company’s stock worth $1,011,000 after buying an additional 3,656 shares during the last quarter. Finally, Grace & White Inc. NY increased its position in Topgolf Callaway Brands by 13.5% in the fourth quarter. Grace & White Inc. NY now owns 663,594 shares of the company’s stock worth $9,516,000 after buying an additional 79,100 shares during the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Price Performance

NYSE MODG traded up $0.13 during trading hours on Friday, reaching $15.85. 951,684 shares of the stock traded hands, compared to its average volume of 1,577,424. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 1.67 and a beta of 1.87. The stock has a 50 day simple moving average of $15.18 and a two-hundred day simple moving average of $13.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.72 and a quick ratio of 0.88. Topgolf Callaway Brands Corp. has a 1 year low of $9.84 and a 1 year high of $22.79.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. The firm had revenue of $897.10 million for the quarter, compared to the consensus estimate of $867.25 million. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.27) earnings per share. On average, analysts predict that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MODG shares. Tigress Financial reaffirmed a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a report on Friday, April 12th. KeyCorp cut their price target on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Finally, Raymond James lifted their price objective on Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.64.

Insider Transactions at Topgolf Callaway Brands

In related news, Director Erik J. Anderson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total transaction of $72,750.00. Following the transaction, the director now owns 777,959 shares in the company, valued at approximately $11,319,303.45. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Erik J. Anderson sold 2,028 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.79, for a total transaction of $29,994.12. Following the transaction, the director now owns 2,242 shares in the company, valued at approximately $33,159.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total value of $72,750.00. Following the sale, the director now directly owns 777,959 shares in the company, valued at $11,319,303.45. The disclosure for this sale can be found here. Company insiders own 11.97% of the company’s stock.

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.