Thrivent Financial for Lutherans Has $862,000 Stock Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Thrivent Financial for Lutherans cut its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 98.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,664 shares of the company's stock after selling 7,502,734 shares during the period. Thrivent Financial for Lutherans owned about 0.06% of Topgolf Callaway Brands worth $862,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MODG. Portolan Capital Management LLC acquired a new stake in Topgolf Callaway Brands in the 3rd quarter valued at $3,862,000. Requisite Capital Management LLC bought a new position in shares of Topgolf Callaway Brands in the 4th quarter valued at about $2,426,000. Charles Schwab Investment Management Inc. increased its position in shares of Topgolf Callaway Brands by 14.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company's stock valued at $17,974,000 after acquiring an additional 291,052 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Topgolf Callaway Brands by 14.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company's stock worth $14,828,000 after acquiring an additional 241,755 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. acquired a new position in Topgolf Callaway Brands during the fourth quarter valued at approximately $1,596,000. Institutional investors own 84.69% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial lowered their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Roth Mkm reaffirmed 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. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and lifted their price objective for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. dropped 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 report on Thursday, January 23rd. Two research 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. According to MarketBeat.com, Topgolf Callaway Brands has a consensus rating of "Hold" and a consensus target price of $13.91.

Remove Ads

Topgolf Callaway Brands Stock Performance

MODG stock traded up $0.24 during mid-day trading on Friday, hitting $6.26. 4,322,572 shares of the company were exchanged, compared to its average volume of 2,569,999. Topgolf Callaway Brands Corp. has a 1-year low of $5.45 and a 1-year high of $16.89. The business has a 50 day simple moving average of $6.92 and a 200-day simple moving average of $8.31. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $1.15 billion, a PE ratio of -78.18 and a beta of 1.47.

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. 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%. On average, equities analysts forecast 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.