Raymond James Financial Inc. Purchases Shares of 48,291 Topgolf Callaway Brands Corp. (NYSE:MODG)

Raymond James Financial Inc. acquired a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,291 shares of the company's stock, valued at approximately $380,000.

Other large investors also recently modified their holdings of the company. Asset Planning Inc acquired a new position in shares of Topgolf Callaway Brands during the 4th quarter worth approximately $33,000. KBC Group NV boosted its stake in shares of Topgolf Callaway Brands by 81.8% in the fourth quarter. KBC Group NV now owns 8,330 shares of the company's stock valued at $65,000 after buying an additional 3,749 shares during the period. Augustine Asset Management Inc. grew its position in Topgolf Callaway Brands by 7.4% during the fourth quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company's stock worth $172,000 after buying an additional 1,500 shares in the last quarter. New World Advisors LLC increased its stake in Topgolf Callaway Brands by 30.1% during the 4th quarter. New World Advisors LLC now owns 28,125 shares of the company's stock worth $221,000 after acquiring an additional 6,500 shares during the period. Finally, Sterneck Capital Management LLC raised its holdings in Topgolf Callaway Brands by 31.0% in the 4th quarter. Sterneck Capital Management LLC now owns 28,672 shares of the company's stock valued at $225,000 after acquiring an additional 6,786 shares in the last quarter. 84.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial cut their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. Roth Mkm reiterated a "buy" rating and issued a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Finally, Jefferies Financial Group upgraded Topgolf Callaway Brands from a "hold" rating to a "buy" rating and upped their price objective for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Topgolf Callaway Brands has a consensus rating of "Hold" and a consensus target price of $11.50.

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Topgolf Callaway Brands Trading Down 0.5 %

Shares of NYSE:MODG traded down $0.03 during midday trading on Friday, hitting $6.24. 4,209,636 shares of the stock were exchanged, compared to its average volume of 2,652,203. The business's 50-day moving average price is $6.63 and its 200 day moving average price is $8.10. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -77.98 and a beta of 1.47.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.07. The firm had revenue of $924.40 million for the quarter, compared to analyst estimates of $1.13 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. Analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Topgolf Callaway Brands Company 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.