Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 63.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,514 shares of the company's stock after selling 78,643 shares during the quarter. New York State Common Retirement Fund's holdings in Topgolf Callaway Brands were worth $350,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Augustine Asset Management Inc. boosted its holdings in Topgolf Callaway Brands by 7.4% in the fourth quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company's stock worth $172,000 after acquiring an additional 1,500 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Topgolf Callaway Brands by 7.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company's stock worth $293,000 after purchasing an additional 2,712 shares during the period. KBC Group NV lifted its holdings in shares of Topgolf Callaway Brands by 81.8% during the fourth quarter. KBC Group NV now owns 8,330 shares of the company's stock worth $65,000 after purchasing an additional 3,749 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Topgolf Callaway Brands by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 355,256 shares of the company's stock worth $3,901,000 after purchasing an additional 3,841 shares during the period. Finally, Asset Planning Inc acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth about $33,000. 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 $0.21 on Friday, reaching $6.32. The company's stock had a trading volume of 5,132,403 shares, compared to its average volume of 3,281,179. The company has a market capitalization of $1.16 billion, a P/E ratio of -78.93 and a beta of 1.70. Topgolf Callaway Brands Corp. has a 52-week low of $5.90 and a 52-week high of $16.89. The stock has a 50-day moving average price of $7.72 and a 200-day moving average price of $8.94. The company has a quick ratio of 1.14, a current ratio of 1.93 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) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.07. The business 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 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MODG shares. JPMorgan Chase & Co. decreased their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Thursday, January 23rd. Jefferies Financial Group raised 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. The Goldman Sachs Group decreased their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Roth Mkm reiterated a "buy" rating and set a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, Truist Financial reduced their price target on 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 given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.