PNC Financial Services Group Inc. Has $108,000 Stock Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

PNC Financial Services Group Inc. increased its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 170.5% during the fourth quarter, Holdings Channel reports. The fund owned 13,757 shares of the company’s stock after acquiring an additional 8,672 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Topgolf Callaway Brands were worth $108,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Prescott Group Capital Management L.L.C. purchased a new stake in Topgolf Callaway Brands in the 4th quarter worth about $1,596,000. Raymond James Financial Inc. purchased a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth $380,000. Victory Capital Management Inc. boosted its position in Topgolf Callaway Brands by 31.1% during the fourth quarter. Victory Capital Management Inc. now owns 158,327 shares of the company’s stock valued at $1,244,000 after purchasing an additional 37,600 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Topgolf Callaway Brands by 14.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company’s stock valued at $17,974,000 after buying an additional 291,052 shares during the last quarter. Finally, New World Advisors LLC grew its position in Topgolf Callaway Brands by 30.1% in the fourth quarter. New World Advisors LLC now owns 28,125 shares of the company’s stock worth $221,000 after acquiring an additional 6,500 shares in the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Trading Down 1.2 %

Shares of Topgolf Callaway Brands stock opened at $6.83 on Wednesday. The company’s fifty day moving average price is $7.18 and its two-hundred day moving average price is $8.51. The firm has a market capitalization of $1.26 billion, a PE ratio of -85.36 and a beta of 1.70. Topgolf Callaway Brands Corp. has a 52-week low of $5.59 and a 52-week high of $16.89. 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 (NYSE:MODG) last posted 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 firm had revenue of $924.40 million during the quarter, compared to analyst estimates of $1.13 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. On average, analysts expect that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MODG. Roth Mkm reiterated a “buy” rating and set a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Truist Financial cut their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Jefferies Financial Group upgraded shares of 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Topgolf Callaway Brands currently has an average rating of “Hold” and an average price target of $13.91.

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.