48,291 Shares in Topgolf Callaway Brands Corp. (NYSE:MODG) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 48,291 shares of the company's stock, valued at approximately $380,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Augustine Asset Management Inc. raised its stake in Topgolf Callaway Brands by 7.4% in the 4th quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company's stock valued at $172,000 after purchasing an additional 1,500 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Topgolf Callaway Brands by 7.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company's stock valued at $293,000 after purchasing an additional 2,712 shares during the last quarter. KBC Group NV raised its stake in Topgolf Callaway Brands by 81.8% in the 4th quarter. KBC Group NV now owns 8,330 shares of the company's stock valued at $65,000 after purchasing an additional 3,749 shares during the last quarter. Asset Planning Inc acquired a new position in Topgolf Callaway Brands in the 4th quarter valued at $33,000. Finally, Tidal Investments LLC raised its stake in Topgolf Callaway Brands by 35.7% in the 3rd quarter. Tidal Investments LLC now owns 22,302 shares of the company's stock valued at $245,000 after purchasing an additional 5,862 shares during the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Topgolf Callaway Brands Trading Up 1.7%

Shares of NYSE MODG traded up $0.12 during mid-day trading on Thursday, reaching $6.70. 917,109 shares of the company's stock were exchanged, compared to its average volume of 2,715,686. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -83.80 and a beta of 1.25. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. Topgolf Callaway Brands Corp. has a 52-week low of $5.42 and a 52-week high of $16.89. The company's 50-day moving average is $6.48 and its 200-day moving average is $7.55.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.15. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.08 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The company's revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 EPS. Analysts expect that Topgolf Callaway Brands Corp. will post 0.16 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.