FineMark National Bank & Trust Increases Stock Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

FineMark National Bank & Trust grew its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 39.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 493,875 shares of the company's stock after purchasing an additional 138,800 shares during the quarter. FineMark National Bank & Trust owned about 0.27% of Topgolf Callaway Brands worth $7,082,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in MODG. North Star Investment Management Corp. raised its position in shares of Topgolf Callaway Brands by 57,166.7% during the fourth quarter. North Star Investment Management Corp. now owns 120,260 shares of the company's stock valued at $1,725,000 after buying an additional 120,050 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Topgolf Callaway Brands by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company's stock worth $187,636,000 after purchasing an additional 116,267 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Topgolf Callaway Brands during the fourth quarter valued at approximately $1,020,000. State of Alaska Department of Revenue raised its stake in shares of Topgolf Callaway Brands by 422.9% in the fourth quarter. State of Alaska Department of Revenue now owns 87,406 shares of the company's stock valued at $1,253,000 after purchasing an additional 70,689 shares in the last quarter. Finally, Thompson Investment Management Inc. lifted its position in Topgolf Callaway Brands by 40.9% in the fourth quarter. Thompson Investment Management Inc. now owns 355,344 shares of the company's stock worth $5,096,000 after purchasing an additional 103,134 shares during the period. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Price Performance

Shares of MODG traded up $0.04 during mid-day trading on Thursday, hitting $14.87. 1,755,109 shares of the company traded hands, compared to its average volume of 2,410,853. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average of $15.72 and a 200 day moving average of $14.26. Topgolf Callaway Brands Corp. has a one year low of $9.84 and a one year high of $20.75. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 40.18, a PEG ratio of 2.48 and a beta of 1.84.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. Topgolf Callaway Brands had a return on equity of 1.93% and a net margin of 1.80%. The firm's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 earnings per share. As a group, equities analysts expect that Topgolf Callaway Brands Corp. will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 7,500 shares of the firm's stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total transaction of $115,275.00. Following the transaction, the director now owns 760,459 shares in the company, valued at $11,688,254.83. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 7,500 shares of the business's stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total value of $115,275.00. Following the completion of the transaction, the director now directly owns 760,459 shares of the company's stock, valued at $11,688,254.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Erik J. Anderson sold 10,000 shares of the firm's stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $15.19, for a total value of $151,900.00. Following the sale, the director now directly owns 767,959 shares in the company, valued at approximately $11,665,297.21. The disclosure for this sale can be found here. 2.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial raised their price objective on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, April 29th. TD Cowen upped their price objective on Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a "hold" rating in a research note on Monday, May 13th. Tigress Financial restated a "buy" rating and set a $38.00 target price on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. KeyCorp lowered their price target on Topgolf Callaway Brands from $20.00 to $18.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 14th. Finally, B. Riley lifted their price objective on Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Topgolf Callaway Brands currently has a consensus rating of "Hold" and a consensus price target of $19.33.

About Topgolf Callaway Brands

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.