American Century Companies Inc. Trims Stock Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

American Century Companies Inc. trimmed its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 19.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,603,547 shares of the company's stock after selling 623,045 shares during the period. American Century Companies Inc. owned approximately 1.42% of Topgolf Callaway Brands worth $20,464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Asset Planning Inc acquired a new stake in Topgolf Callaway Brands during the fourth quarter worth about $33,000. KBC Group NV increased its holdings in shares of Topgolf Callaway Brands by 81.8% during 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 in the last quarter. Xponance Inc. acquired a new position in shares of Topgolf Callaway Brands in the 4th quarter valued at $87,000. Cibc World Markets Corp purchased a new stake in Topgolf Callaway Brands during the fourth quarter worth $104,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Topgolf Callaway Brands by 170.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company's stock worth $108,000 after acquiring an additional 8,672 shares during the period. Institutional investors and hedge funds own 84.69% of the company's stock.

Analyst Ratings Changes

MODG has been the topic of a number of analyst reports. Roth Mkm restated 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. Jefferies Financial Group raised Topgolf Callaway Brands from a "hold" rating to a "buy" rating and upped their target price for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price target on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, January 23rd. Finally, Truist Financial reduced their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Topgolf Callaway Brands has a consensus rating of "Hold" and a consensus price target of $13.91.

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Topgolf Callaway Brands Price Performance

MODG traded down $0.72 on Thursday, reaching $6.02. 2,670,444 shares of the company's stock were exchanged, compared to its average volume of 2,561,255. Topgolf Callaway Brands Corp. has a twelve month low of $5.59 and a twelve month high of $16.89. The stock has a market cap of $1.11 billion, a PE ratio of -75.18 and a beta of 1.70. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The stock's fifty day moving average price is $6.95 and its 200-day moving average price is $8.37.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last issued its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $924.40 million for the quarter, compared to analysts' expectations of $1.13 billion. Sell-side analysts expect that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current 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.