First Dallas Securities Inc. Grows Stock Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

First Dallas Securities Inc. raised its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 13.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 72,950 shares of the company’s stock after buying an additional 8,500 shares during the quarter. First Dallas Securities Inc.’s holdings in Topgolf Callaway Brands were worth $1,180,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Shapiro Capital Management LLC raised its position in shares of 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 purchasing an additional 8,373,946 shares during the last quarter. Vanguard Group Inc. increased its holdings in Topgolf Callaway Brands by 13.6% in the 4th quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock worth $220,884,000 after buying an additional 1,845,864 shares during the period. Norges Bank acquired a new position in Topgolf Callaway Brands in the 4th quarter worth approximately $10,467,000. Assenagon Asset Management S.A. acquired a new position in Topgolf Callaway Brands in the 4th quarter worth approximately $9,412,000. Finally, Motley Fool Wealth Management LLC acquired a new stake in shares of Topgolf Callaway Brands during the 4th quarter worth approximately $6,659,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Erik J. Anderson sold 7,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total transaction of $115,275.00. Following the transaction, the director now owns 760,459 shares of the company’s stock, valued at $11,688,254.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Erik J. Anderson sold 7,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total value of $115,275.00. Following the sale, the director now directly owns 760,459 shares in the company, valued at $11,688,254.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $151,900.00. Following the completion of 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. Corporate insiders own 2.49% of the company’s stock.

Analyst Upgrades and Downgrades

MODG has been the topic of a number of analyst reports. Tigress Financial reaffirmed a “buy” rating and set a $38.00 price objective on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. TD Cowen increased their target price on Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, May 13th. B. Riley increased their target price on Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Truist Financial increased their target price 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.33.

Topgolf Callaway Brands Stock Down 0.5 %

MODG stock traded down $0.07 during trading on Friday, hitting $15.30. 2,901,892 shares of the company’s stock were exchanged, compared to its average volume of 1,567,967. The business has a 50-day moving average price of $15.46 and a two-hundred day moving average price of $14.85. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 2.55 and a beta of 1.80. Topgolf Callaway Brands Corp. has a 52-week low of $9.84 and a 52-week high of $20.75. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.09 earnings per share 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 company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned $0.17 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities research analysts expect that Topgolf Callaway Brands Corp. will post 0.34 EPS for the current 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.