Cibc World Markets Corp Takes Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Cibc World Markets Corp acquired a new position in Topgolf Callaway Brands Corp. (NYSE:MODG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,274 shares of the company’s stock, valued at approximately $104,000.

Other hedge funds have also bought and sold shares of the company. Asset Planning Inc purchased a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth $33,000. KBC Group NV lifted its holdings in Topgolf Callaway Brands by 81.8% during the 4th quarter. KBC Group NV now owns 8,330 shares of the company’s stock worth $65,000 after purchasing an additional 3,749 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Topgolf Callaway Brands by 170.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company’s stock worth $108,000 after purchasing an additional 8,672 shares in the last quarter. Quest Partners LLC bought a new position in Topgolf Callaway Brands in the 3rd quarter worth about $161,000. Finally, Augustine Asset Management Inc. grew its holdings in Topgolf Callaway Brands by 7.4% during the 4th quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company’s stock valued at $172,000 after buying an additional 1,500 shares in the last quarter. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MODG shares. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their price objective for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Truist Financial lowered their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Roth Mkm restated a “buy” rating and set a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered their price objective 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 equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Topgolf Callaway Brands currently has an average rating of “Hold” and a consensus target price of $13.91.

Topgolf Callaway Brands Price Performance

MODG opened at $6.91 on Friday. The stock has a 50-day moving average price of $7.13 and a 200-day moving average price of $8.48. The stock has a market capitalization of $1.27 billion, a P/E ratio of -86.33 and a beta of 1.70. Topgolf Callaway Brands Corp. has a 12-month low of $5.59 and a 12-month high of $16.89. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings data on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates 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%. Equities analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

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.