Motley Fool Wealth Management LLC Takes $6.66 Million Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Motley Fool Wealth Management LLC acquired a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 463,973 shares of the company’s stock, valued at approximately $6,659,000.

Other large investors have also recently made changes to their positions in the company. North Star Investment Management Corp. grew its holdings 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. boosted its holdings in Topgolf Callaway Brands by 0.9% in the third quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company’s stock valued at $187,636,000 after purchasing an additional 116,267 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in 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 during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Topgolf Callaway Brands in the fourth quarter valued at $1,020,000. Finally, Thompson Investment Management Inc. boosted its holdings 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 valued at $5,096,000 after purchasing an additional 103,134 shares during the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the transaction, the director now owns 777,959 shares in the company, valued at approximately $11,319,303.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the sale, the director now owns 777,959 shares of the company’s stock, valued at approximately $11,319,303.45. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Erik J. Anderson sold 2,028 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.79, for a total transaction of $29,994.12. Following the sale, the director now directly owns 2,242 shares of the company’s stock, valued at approximately $33,159.18. The disclosure for this sale can be found here. Insiders own 11.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Tigress Financial reaffirmed a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a report on Friday, April 12th. Raymond James upped their price target on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, KeyCorp lowered their price target on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.64.

Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock traded up $0.13 during trading hours on Friday, reaching $15.85. The stock had a trading volume of 951,684 shares, compared to its average volume of 1,577,424. Topgolf Callaway Brands Corp. has a twelve month low of $9.84 and a twelve month high of $22.79. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average is $15.18 and its 200 day moving average is $13.90. The firm has a market capitalization of $2.91 billion, a PE ratio of 34.46, a PEG ratio of 1.67 and a beta of 1.87.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The firm had revenue of $897.10 million during the quarter, compared to the consensus estimate of $867.25 million. During the same quarter in the prior year, the firm earned ($0.27) EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts expect that Topgolf Callaway Brands Corp. will post 0.29 earnings per share for the current fiscal year.

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.