Vanguard Group Inc. Buys 224,578 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Vanguard Group Inc. raised its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,860,996 shares of the company's stock after buying an additional 224,578 shares during the period. Vanguard Group Inc. owned approximately 8.63% of Topgolf Callaway Brands worth $124,667,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MODG. Augustine Asset Management Inc. increased its stake in shares of Topgolf Callaway Brands by 7.4% during the fourth quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company's stock valued at $172,000 after acquiring an additional 1,500 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of Topgolf Callaway Brands by 7.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company's stock worth $293,000 after buying an additional 2,712 shares in the last quarter. KBC Group NV boosted its stake in Topgolf Callaway Brands by 81.8% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 acquiring an additional 3,841 shares during the period. Finally, Asset Planning Inc bought a new stake in Topgolf Callaway Brands in the fourth quarter worth about $33,000. 84.69% of the stock is currently owned by institutional investors.

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Topgolf Callaway Brands Stock Down 0.5 %

MODG traded down $0.03 during trading on Friday, reaching $6.24. 4,209,636 shares of the stock traded hands, compared to its average volume of 2,652,203. The stock's 50-day simple moving average is $6.63 and its two-hundred day simple moving average is $8.10. 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 fifty-two week low of $5.42 and a fifty-two week high of $16.89. The stock has a market cap 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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The firm had revenue of $924.40 million during the quarter, compared to analysts' expectations of $1.13 billion. As a group, equities research analysts expect that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MODG. JPMorgan Chase & Co. reduced their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, January 23rd. Truist Financial dropped their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group raised Topgolf Callaway Brands from a "hold" rating to a "buy" rating and raised their price objective for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. Finally, Roth Mkm reaffirmed a "buy" rating and set a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Two 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 data from MarketBeat, Topgolf Callaway Brands has a consensus rating of "Hold" and a consensus target price of $11.50.

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.