Louisiana State Employees Retirement System Purchases New Shares in Topgolf Callaway Brands Corp. (NYSE:MODG)

Louisiana State Employees Retirement System acquired a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 71,100 shares of the company's stock, valued at approximately $1,020,000.

Several other institutional investors also recently made changes to their positions in MODG. Graypoint LLC raised its stake in shares of Topgolf Callaway Brands by 17.2% during the fourth quarter. Graypoint LLC now owns 24,571 shares of the company's stock valued at $352,000 after purchasing an additional 3,611 shares in the last quarter. New World Advisors LLC lifted its position in Topgolf Callaway Brands by 22.1% in the fourth quarter. New World Advisors LLC now owns 22,125 shares of the company's stock worth $317,000 after purchasing an additional 4,000 shares during the period. International Assets Investment Management LLC increased its position in shares of Topgolf Callaway Brands by 1,251.3% during the 4th quarter. International Assets Investment Management LLC now owns 23,216 shares of the company's stock valued at $333,000 after purchasing an additional 21,498 shares during the period. Zenyatta Capital Management LP bought a new stake in Topgolf Callaway Brands in the fourth quarter worth about $430,000. Finally, New York State Teachers Retirement System raised its holdings in shares of Topgolf Callaway Brands by 8.2% in the 4th quarter. New York State Teachers Retirement System now owns 154,160 shares of the company's stock worth $2,211,000 after purchasing an additional 11,668 shares in the last quarter. 84.69% of the stock is owned by institutional investors.

Insider Transactions at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction that occurred on 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 $11,319,303.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the transaction, the director now directly owns 777,959 shares in the company, valued at $11,319,303.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the sale, the director now owns 2,242 shares of the company's stock, valued at approximately $33,159.18. The disclosure for this sale can be found here. 11.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Tigress Financial reissued a "buy" rating and set a $38.00 price objective on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. KeyCorp dropped their price target on Topgolf Callaway Brands from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 14th. Finally, Raymond James upped their price objective on shares of 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.64.

Topgolf Callaway Brands Stock Down 2.8 %

Shares of Topgolf Callaway Brands stock traded down $0.46 during trading on Thursday, hitting $15.72. 1,295,410 shares of the stock traded hands, compared to its average volume of 2,530,521. The stock has a market cap of $2.89 billion, a P/E ratio of 34.17, a PEG ratio of 1.72 and a beta of 1.87. The company has a fifty day moving average price of $15.16 and a two-hundred day moving average price of $13.88. Topgolf Callaway Brands Corp. has a twelve month low of $9.84 and a twelve month high of $22.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.72.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. The company had revenue of $897.10 million for the quarter, compared to analyst estimates of $867.25 million. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. Topgolf Callaway Brands's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.27) EPS. Equities research analysts predict that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current fiscal year.

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.