Dimensional Fund Advisors LP Sells 86,886 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Dimensional Fund Advisors LP cut its position in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,446,841 shares of the company's stock after selling 86,886 shares during the period. Dimensional Fund Advisors LP owned approximately 5.14% of Topgolf Callaway Brands worth $74,251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MODG. Vanguard Group Inc. raised its holdings in Topgolf Callaway Brands by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 15,860,996 shares of the company's stock worth $124,667,000 after acquiring an additional 224,578 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Topgolf Callaway Brands by 14.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company's stock worth $17,974,000 after purchasing an additional 291,052 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Topgolf Callaway Brands by 97.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company's stock worth $16,919,000 after purchasing an additional 1,063,033 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Topgolf Callaway Brands by 14.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company's stock valued at $14,828,000 after purchasing an additional 241,755 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Topgolf Callaway Brands by 41.9% during the fourth quarter. Invesco Ltd. now owns 1,591,742 shares of the company's stock valued at $12,511,000 after buying an additional 469,728 shares during the last quarter. Institutional investors own 84.69% of the company's stock.

Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock traded up $0.03 on Tuesday, hitting $6.84. 284,478 shares of the company traded hands, compared to its average volume of 2,685,330. Topgolf Callaway Brands Corp. has a 52 week low of $5.42 and a 52 week high of $16.89. The business has a 50-day simple moving average of $6.38 and a 200 day simple moving average of $7.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The stock has a market capitalization of $1.26 billion, a P/E ratio of -85.46 and a beta of 1.25.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.07. The business had revenue of $924.40 million for the quarter, compared to analysts' expectations of $1.13 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. Research analysts expect that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MODG shares. Truist Financial decreased their target price on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Roth Mkm restated a "buy" rating and set a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $11.00.

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.