Fisher Asset Management LLC Lowers Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Fisher Asset Management LLC lessened its position in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 98.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,267 shares of the company's stock after selling 1,039,132 shares during the quarter. Fisher Asset Management LLC's holdings in Topgolf Callaway Brands were worth $89,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MODG. Asset Planning Inc purchased a new position in shares of Topgolf Callaway Brands in the 4th quarter valued at approximately $33,000. KBC Group NV lifted its stake in shares of Topgolf Callaway Brands by 81.8% in 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 during the period. Quest Partners LLC purchased a new position in shares of Topgolf Callaway Brands in the 3rd quarter valued at approximately $161,000. Augustine Asset Management Inc. lifted its stake in shares of Topgolf Callaway Brands by 7.4% in the 4th 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 position in Topgolf Callaway Brands during the third quarter valued at $200,000. Hedge funds and other institutional investors own 84.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Roth Mkm reiterated 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. JPMorgan Chase & Co. decreased their price target 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. The Goldman Sachs Group decreased their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, November 14th. Truist Financial decreased their price target 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, Jefferies Financial Group upgraded Topgolf Callaway Brands from a "hold" rating to a "buy" rating and boosted their price target for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. Two 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $13.91.

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Topgolf Callaway Brands Stock Performance

Shares of MODG opened at $6.32 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. Topgolf Callaway Brands Corp. has a one year low of $5.90 and a one year high of $16.89. The firm has a market capitalization of $1.16 billion, a P/E ratio of -78.93 and a beta of 1.70. The business has a fifty day moving average of $7.69 and a 200 day moving average of $8.88.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.13 billion. As a group, sell-side analysts anticipate 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.

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