Charles Schwab Investment Management Inc. Purchases 291,052 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Charles Schwab Investment Management Inc. raised its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,286,719 shares of the company's stock after acquiring an additional 291,052 shares during the period. Charles Schwab Investment Management Inc. owned about 1.24% of Topgolf Callaway Brands worth $17,974,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Asset Planning Inc bought a new position in Topgolf Callaway Brands during the fourth quarter valued at approximately $33,000. KBC Group NV grew its position in Topgolf Callaway Brands by 81.8% during the fourth quarter. KBC Group NV now owns 8,330 shares of the company's stock valued at $65,000 after acquiring an additional 3,749 shares during the last quarter. Quest Partners LLC bought a new position in Topgolf Callaway Brands during the third quarter valued at approximately $161,000. Augustine Asset Management Inc. boosted its stake in shares of Topgolf Callaway Brands by 7.4% during the fourth 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 period. Finally, Paloma Partners Management Co purchased a new stake in shares of Topgolf Callaway Brands during the third quarter valued at approximately $200,000. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Trading Up 2.2 %

MODG stock traded up $0.15 on Friday, reaching $6.76. The company's stock had a trading volume of 4,093,036 shares, compared to its average volume of 2,498,077. The business has a fifty day simple moving average of $7.24 and a two-hundred day simple moving average of $8.57. Topgolf Callaway Brands Corp. has a 12-month low of $5.59 and a 12-month high of $16.89. The firm has a market cap of $1.24 billion, a PE ratio of -84.44 and a beta of 1.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93.

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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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.07. The business had revenue of $924.40 million during the quarter, compared to the consensus estimate of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. As a group, research analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

MODG has been the subject of a number of analyst reports. Roth Mkm reissued a "buy" rating and set a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Jefferies Financial Group raised Topgolf Callaway Brands from a "hold" rating to a "buy" rating and increased their price objective for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. Truist Financial dropped their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. dropped their price objective on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $13.91.

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.