Invesco Ltd. Acquires 469,728 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Invesco Ltd. grew its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 41.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,591,742 shares of the company's stock after acquiring an additional 469,728 shares during the quarter. Invesco Ltd. owned 0.87% of Topgolf Callaway Brands worth $12,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MODG. Thompson Investment Management Inc. grew its position in Topgolf Callaway Brands by 11.1% during the fourth quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company's stock valued at $2,848,000 after buying an additional 36,201 shares during the period. Wealthfront Advisers LLC increased its stake in shares of Topgolf Callaway Brands by 589.5% during the 4th quarter. Wealthfront Advisers LLC now owns 85,807 shares of the company's stock worth $674,000 after purchasing an additional 73,362 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Topgolf Callaway Brands by 14.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company's stock worth $17,974,000 after purchasing an additional 291,052 shares during the period. Requisite Capital Management LLC purchased a new stake in Topgolf Callaway Brands in the fourth quarter worth $2,426,000. Finally, Prescott Group Capital Management L.L.C. bought a new stake in shares of Topgolf Callaway Brands in the fourth quarter valued at $1,596,000. Institutional investors own 84.69% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on MODG shares. Truist Financial lowered their price target on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. dropped their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, January 23rd. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and upped their price objective for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Finally, Roth Mkm reiterated a "buy" rating and set a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research 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 assigned 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 $11.00.

Topgolf Callaway Brands Stock Down 1.8 %

MODG traded down $0.12 during midday trading on Friday, reaching $6.72. The company's stock had a trading volume of 1,343,748 shares, compared to its average volume of 2,683,092. Topgolf Callaway Brands Corp. has a 1 year low of $5.42 and a 1 year high of $16.89. The stock's 50-day moving average is $6.40 and its 200-day moving average is $7.86. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -83.99 and a beta of 1.47. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The company had revenue of $924.40 million during the quarter, compared to analyst estimates of $1.13 billion. As a group, research analysts expect that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

Topgolf Callaway Brands 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.