Wilbanks Smith & Thomas Asset Management LLC Acquires 3,100 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 18.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,600 shares of the company’s stock after buying an additional 3,100 shares during the period. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Topgolf Callaway Brands were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its position in Topgolf Callaway Brands by 2.7% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 38,792 shares of the company’s stock worth $537,000 after buying an additional 1,010 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Topgolf Callaway Brands by 0.9% in the fourth quarter. New York State Common Retirement Fund now owns 166,700 shares of the company’s stock valued at $2,390,000 after acquiring an additional 1,406 shares during the period. Wolff Wiese Magana LLC raised its stake in shares of Topgolf Callaway Brands by 87.8% in the third quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock valued at $46,000 after acquiring an additional 1,551 shares during the period. Covestor Ltd lifted its holdings in shares of Topgolf Callaway Brands by 10.1% in the 3rd quarter. Covestor Ltd now owns 17,677 shares of the company’s stock worth $245,000 after acquiring an additional 1,622 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Topgolf Callaway Brands by 2.3% during the 4th quarter. Raymond James & Associates now owns 99,827 shares of the company’s stock worth $1,432,000 after purchasing an additional 2,258 shares during the period. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Topgolf Callaway Brands

In related news, Director Erik J. Anderson sold 2,028 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.79, for a total transaction of $29,994.12. Following the sale, the director now owns 2,242 shares of the company’s stock, valued at $33,159.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total value of $72,750.00. Following the transaction, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erik J. Anderson sold 2,028 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the transaction, the director now directly owns 2,242 shares in the company, valued at $33,159.18. The disclosure for this sale can be found here. Insiders own 11.97% of the company’s stock.

Topgolf Callaway Brands Stock Performance

MODG stock opened at $16.01 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.72 and a quick ratio of 0.88. Topgolf Callaway Brands Corp. has a 1-year low of $9.84 and a 1-year high of $22.60. The business has a 50-day moving average price of $15.34 and a 200 day moving average price of $14.00. The company has a market capitalization of $2.94 billion, a P/E ratio of 34.81, a PEG ratio of 1.69 and a beta of 1.84.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The business had revenue of $897.10 million during the quarter, compared to analyst estimates of $867.25 million. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.27) EPS. As a group, equities research analysts forecast that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MODG. B. Riley raised their price objective on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday. Truist Financial increased their price target on Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Tigress Financial restated a “buy” rating and set a $38.00 price objective on shares of Topgolf Callaway Brands in a report on Friday, April 12th. Finally, KeyCorp reduced their target price on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.91.

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.