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130,662 Shares in Topgolf Callaway Brands Corp. (NYSE:MODG) Acquired by Polen Capital Management LLC

Topgolf Callaway Brands logo with Consumer Discretionary background

Polen Capital Management LLC purchased a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 130,662 shares of the company's stock, valued at approximately $1,874,000. Polen Capital Management LLC owned about 0.07% of Topgolf Callaway Brands at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MODG. Swiss National Bank boosted its holdings in shares of Topgolf Callaway Brands by 1.1% during the 3rd quarter. Swiss National Bank now owns 326,400 shares of the company's stock worth $4,517,000 after buying an additional 3,700 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Topgolf Callaway Brands by 9.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,417,725 shares of the company's stock valued at $19,621,000 after purchasing an additional 118,607 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Topgolf Callaway Brands by 120.9% during the third quarter. HighTower Advisors LLC now owns 35,250 shares of the company's stock worth $488,000 after purchasing an additional 19,295 shares during the period. Blair William & Co. IL lifted its holdings in Topgolf Callaway Brands by 7.7% during the 3rd quarter. Blair William & Co. IL now owns 66,990 shares of the company's stock worth $927,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Topgolf Callaway Brands by 13.3% during the 3rd quarter. Deutsche Bank AG now owns 81,435 shares of the company's stock worth $1,127,000 after purchasing an additional 9,569 shares during the last quarter. 84.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MODG shares. Tigress Financial reissued a "buy" rating and set a $38.00 target price on shares of Topgolf Callaway Brands in a report on Friday, April 12th. Truist Financial boosted their price objective on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a "buy" rating in a report on Monday, April 29th. TD Cowen raised their target price on shares of Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a "hold" rating in a report on Monday, May 13th. Finally, B. Riley increased their price target on Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $19.33.


Check Out Our Latest Research Report on MODG

Topgolf Callaway Brands Price Performance

Shares of MODG traded down $0.29 during midday trading on Friday, hitting $15.03. The company's stock had a trading volume of 1,694,813 shares, compared to its average volume of 2,322,164. The company has a quick ratio of 1.02, a current ratio of 1.82 and a debt-to-equity ratio of 0.39. 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 $2.76 billion, a price-to-earnings ratio of 40.62, a price-to-earnings-growth ratio of 2.61 and a beta of 1.80. The company's fifty day simple moving average is $15.61 and its two-hundred day simple moving average is $14.67.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.08. Topgolf Callaway Brands had a return on equity of 1.93% and a net margin of 1.80%. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the business posted $0.17 earnings per share. The business's revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts expect that Topgolf Callaway Brands Corp. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Topgolf Callaway Brands

In other news, Director Erik J. Anderson sold 10,000 shares of the company's stock in a transaction on Friday, May 10th. The shares were sold at an average price of $15.19, for a total transaction of $151,900.00. Following the completion of the transaction, the director now directly owns 767,959 shares in the company, valued at $11,665,297.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Erik J. Anderson sold 7,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 14th. The shares were 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 owns 760,459 shares in the company, valued at approximately $11,688,254.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Erik J. Anderson sold 10,000 shares of Topgolf Callaway Brands stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $15.19, for a total transaction of $151,900.00. Following the sale, the director now owns 767,959 shares in the company, valued at $11,665,297.21. The disclosure for this sale can be found here. Company insiders own 2.49% of the company's stock.

Topgolf Callaway Brands Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding MODG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report).

Institutional Ownership by Quarter for Topgolf Callaway Brands (NYSE:MODG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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