Charles Schwab Investment Management Inc. Boosts Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Charles Schwab Investment Management Inc. increased its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 8.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,995,667 shares of the company's stock after purchasing an additional 148,451 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.09% of Topgolf Callaway Brands worth $21,912,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its holdings in shares of Topgolf Callaway Brands by 327.6% in the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company's stock worth $39,000 after purchasing an additional 1,936 shares during the last quarter. Dnca Finance purchased a new position in shares of Topgolf Callaway Brands during the second quarter worth approximately $134,000. Koss Olinger Consulting LLC purchased a new position in shares of Topgolf Callaway Brands during the second quarter worth approximately $160,000. Simon Quick Advisors LLC bought a new stake in shares of Topgolf Callaway Brands during the second quarter valued at approximately $161,000. Finally, Cetera Advisors LLC purchased a new stake in shares of Topgolf Callaway Brands in the first quarter valued at approximately $182,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Stock Down 0.5 %

Shares of MODG traded down $0.04 during mid-day trading on Friday, hitting $8.02. 2,283,437 shares of the company traded hands, compared to its average volume of 2,500,573. The company has a market capitalization of $1.47 billion, a PE ratio of -100.75, a price-to-earnings-growth ratio of 5.58 and a beta of 1.70. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average of $9.55 and a 200 day moving average of $12.10. Topgolf Callaway Brands Corp. has a 1-year low of $7.93 and a 1-year high of $16.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial decreased their target price on Topgolf Callaway Brands from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th. Roth Mkm reiterated a "buy" rating and set a $16.00 target price (down from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. The Goldman Sachs Group reduced their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Jefferies Financial Group lowered shares of Topgolf Callaway Brands from a "buy" rating to a "hold" rating and cut their price objective for the company from $40.00 to $12.00 in a report on Thursday, August 29th. Finally, Raymond James lowered Topgolf Callaway Brands from an "outperform" rating to an "underperform" rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $14.92.

About Topgolf Callaway Brands

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.