Topgolf Callaway Brands Corp. (NYSE:MODG) Holdings Lifted by Invesco Ltd.

Invesco Ltd. raised its stake in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 41.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,591,742 shares of the company's stock after acquiring an additional 469,728 shares during the quarter. Invesco Ltd. owned approximately 0.87% of Topgolf Callaway Brands worth $12,511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Topgolf Callaway Brands by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 15,860,996 shares of the company's stock worth $124,667,000 after buying an additional 224,578 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Topgolf Callaway Brands by 0.7% during the third quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company's stock worth $35,749,000 after purchasing an additional 22,003 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 purchasing an additional 291,052 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Topgolf Callaway Brands by 97.6% in the 4th quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company's stock worth $16,919,000 after buying an additional 1,063,033 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in Topgolf Callaway Brands by 14.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company's stock valued at $14,828,000 after buying an additional 241,755 shares during the period. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Stock Down 1.8 %

MODG traded down $0.13 during trading on Friday, hitting $6.72. The company had a trading volume of 756,512 shares, compared to its average volume of 2,675,401. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The company has a market cap of $1.23 billion, a PE ratio of -83.93 and a beta of 1.47. Topgolf Callaway Brands Corp. has a 1-year low of $5.42 and a 1-year high of $16.89. The business has a 50-day moving average of $6.42 and a 200-day moving average of $7.88.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.07. The business had revenue of $924.40 million for 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%. As a group, analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Analyst Ratings Changes

MODG has been the topic of several recent analyst reports. Truist Financial cut their price objective on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Roth Mkm reaffirmed a "buy" rating and set a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and boosted their price objective for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. cut their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $11.00.

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.