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Fisher Asset Management LLC Sells 432,322 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Topgolf Callaway Brands logo with Consumer Discretionary background

Fisher Asset Management LLC decreased its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 14.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,577,768 shares of the company's stock after selling 432,322 shares during the quarter. Fisher Asset Management LLC owned approximately 1.40% of Topgolf Callaway Brands worth $36,965,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in Topgolf Callaway Brands by 0.9% during the third quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company's stock valued at $187,636,000 after buying an additional 116,267 shares in the last quarter. Shapiro Capital Management LLC increased its position in Topgolf Callaway Brands by 651.6% in the 3rd quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company's stock valued at $133,683,000 after acquiring an additional 8,373,946 shares during the period. TimesSquare Capital Management LLC increased its position in Topgolf Callaway Brands by 0.7% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,684,235 shares of the company's stock valued at $23,310,000 after acquiring an additional 11,505 shares during the period. Charles Schwab Investment Management Inc. increased its position in Topgolf Callaway Brands by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,577,637 shares of the company's stock valued at $22,623,000 after acquiring an additional 159,912 shares during the period. Finally, Kennedy Capital Management LLC increased its position in Topgolf Callaway Brands by 8.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,346,554 shares of the company's stock valued at $18,636,000 after acquiring an additional 102,325 shares during the period. Institutional investors and hedge funds own 84.69% of the company's stock.


Insider Transactions at Topgolf Callaway Brands

In other news, Director Erik J. Anderson sold 7,500 shares of Topgolf Callaway Brands 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 transaction, the director now directly owns 760,459 shares in the company, valued at $11,688,254.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Erik J. Anderson sold 7,500 shares of Topgolf Callaway Brands 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 transaction, the director now directly owns 760,459 shares in the company, valued at $11,688,254.83. 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 10,000 shares of Topgolf Callaway Brands 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 completion of the transaction, 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. 2.49% of the stock is currently owned by corporate insiders.

Topgolf Callaway Brands Stock Down 0.5 %

NYSE MODG traded down $0.08 during trading on Tuesday, hitting $15.00. 1,332,156 shares of the company traded hands, compared to its average volume of 2,309,584. Topgolf Callaway Brands Corp. has a 12 month low of $9.84 and a 12 month high of $20.75. The business has a fifty day simple moving average of $15.58 and a 200 day simple moving average of $14.72. 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 company has a market capitalization of $2.75 billion, a P/E ratio of 40.54, a PEG ratio of 2.49 and a beta of 1.80.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $0.17 earnings per share. The business's revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that Topgolf Callaway Brands Corp. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

MODG has been the topic of several research analyst reports. Truist Financial lifted their price target on Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, April 29th. Tigress Financial reiterated a "buy" rating and set a $38.00 price target on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. B. Riley raised their price objective on Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, May 2nd. Finally, TD Cowen raised their price objective on Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a "hold" rating in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $19.33.

Check Out Our Latest Stock Report on Topgolf Callaway Brands

About Topgolf Callaway Brands

(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.

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