Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271,100 shares of the company’s stock after selling 17,800 shares during the period. Swiss National Bank’s holdings in Topgolf Callaway Brands were worth $2,131,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MODG. Quest Partners LLC acquired a new stake in shares of Topgolf Callaway Brands in the 3rd quarter worth about $161,000. Intech Investment Management LLC bought a new position in Topgolf Callaway Brands in the 3rd quarter worth about $424,000. Charles Schwab Investment Management Inc. increased its stake in shares of Topgolf Callaway Brands by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock valued at $21,912,000 after purchasing an additional 148,451 shares during the period. Quantbot Technologies LP bought a new stake in shares of Topgolf Callaway Brands during the third quarter valued at approximately $1,645,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Topgolf Callaway Brands by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 355,256 shares of the company’s stock worth $3,901,000 after buying an additional 3,841 shares during the period. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Price Performance

NYSE MODG opened at $6.91 on Friday. Topgolf Callaway Brands Corp. has a 1 year low of $5.59 and a 1 year high of $16.89. The business’s fifty day moving average is $7.13 and its two-hundred day moving average is $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. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93.

Topgolf Callaway Brands (NYSE:MODG) last announced its earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.07. The business had revenue of $924.40 million during 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%. On average, research analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MODG has been the topic of several recent analyst reports. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. Truist Financial cut their price objective 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 reissued a “buy” rating and set a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.91.

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.