LGT Capital Partners LTD. Raises Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

LGT Capital Partners LTD. raised its stake in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 25.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 750,789 shares of the company's stock after acquiring an additional 150,789 shares during the quarter. LGT Capital Partners LTD. owned approximately 0.41% of Topgolf Callaway Brands worth $5,901,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. raised its stake in shares of Topgolf Callaway Brands by 123.9% during the third quarter. Crossmark Global Holdings Inc. now owns 34,617 shares of the company's stock valued at $381,000 after acquiring an additional 19,159 shares during the last quarter. Entropy Technologies LP acquired a new position in Topgolf Callaway Brands during the 3rd quarter worth about $274,000. Aigen Investment Management LP increased its stake in shares of Topgolf Callaway Brands by 104.0% in the third quarter. Aigen Investment Management LP now owns 29,083 shares of the company's stock valued at $319,000 after buying an additional 14,826 shares during the period. Victory Capital Management Inc. increased its position in Topgolf Callaway Brands by 165.6% during the 3rd quarter. Victory Capital Management Inc. now owns 120,727 shares of the company's stock valued at $1,326,000 after purchasing an additional 75,270 shares during the period. Finally, Empowered Funds LLC bought a new position in Topgolf Callaway Brands during the 3rd quarter worth approximately $3,396,000. Institutional investors and hedge funds own 84.69% of the company's stock.

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Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock traded up $0.02 on Thursday, hitting $6.16. 2,740,918 shares of the company traded hands, compared to its average volume of 3,272,835. Topgolf Callaway Brands Corp. has a 12-month low of $5.59 and a 12-month high of $16.89. The firm's 50-day simple moving average is $7.58 and its 200 day simple moving average is $8.77. The company has a market cap of $1.13 billion, a P/E ratio of -76.93 and a beta of 1.70. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

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 firm had revenue of $924.40 million during the quarter, compared to analysts' expectations of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. Analysts expect that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Roth Mkm reiterated a "buy" rating and set a $11.00 price objective (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. The Goldman Sachs Group dropped their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, November 14th. Jefferies Financial Group upgraded Topgolf Callaway Brands from a "hold" rating to a "buy" rating and lifted their target price for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. 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. Finally, JPMorgan Chase & Co. cut their target price 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Topgolf Callaway Brands has an average rating of "Hold" and an average target price of $13.91.

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.