Dimensional Fund Advisors LP cut its position in shares of Callaway Golf Co. (NYSE:ELY) by 11.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,272,338 shares of the company’s stock after selling 712,549 shares during the period. Dimensional Fund Advisors LP owned 5.61% of Callaway Golf worth $53,830,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Silver Capital Management LLC bought a new position in shares of Callaway Golf during the second quarter valued at about $102,000. Boothbay Fund Management LLC bought a new position in shares of Callaway Golf during the first quarter valued at about $112,000. Legal & General Group Plc boosted its position in shares of Callaway Golf by 10.8% in the first quarter. Legal & General Group Plc now owns 12,987 shares of the company’s stock valued at $119,000 after buying an additional 1,268 shares during the last quarter. Airain ltd bought a new position in shares of Callaway Golf during the second quarter valued at about $119,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Callaway Golf by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 12,560 shares of the company’s stock valued at $128,000 after buying an additional 1,523 shares during the last quarter. 84.34% of the stock is owned by hedge funds and other institutional investors.
Callaway Golf Co. (NYSE:ELY) traded up 0.90% on Friday, reaching $11.27. The company had a trading volume of 80,735 shares. Callaway Golf Co. has a 1-year low of $8.00 and a 1-year high of $11.90. The company’s 50-day moving average price is $11.51 and its 200 day moving average price is $10.34. The firm has a market capitalization of $1.06 billion, a P/E ratio of 28.53 and a beta of 1.30.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.30 by $0.06. Callaway Golf had a net margin of 4.53% and a return on equity of 8.69%. The company had revenue of $245.60 million for the quarter, compared to analyst estimates of $242.49 million. During the same period in the prior year, the company earned $0.15 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts forecast that Callaway Golf Co. will post $0.44 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Tuesday, August 23rd. Callaway Golf’s payout ratio is currently 10.26%.
Several research analysts recently issued reports on ELY shares. Jefferies Group reaffirmed a “buy” rating and set a $14.00 target price on shares of Callaway Golf in a research report on Tuesday, August 30th. Imperial Capital reaffirmed an “outperform” rating and set a $14.00 target price on shares of Callaway Golf in a research report on Friday, September 9th. Zacks Investment Research cut Callaway Golf from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. KeyCorp reaffirmed a “buy” rating and set a $16.00 target price on shares of Callaway Golf in a research report on Friday, September 23rd. Finally, DA Davidson set a $14.00 target price on Callaway Golf and gave the company a “buy” rating in a research report on Monday, August 29th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Callaway Golf currently has an average rating of “Buy” and an average target price of $13.29.
About Callaway Golf
Callaway Golf Company designs, manufactures and sells golf clubs, golf balls, golf bags and other golf-related accessories. The Company has two segments: the golf clubs segment and golf balls segment. The golf clubs segment consists of its woods, hybrids, irons and wedges and Odyssey putters. This segment also includes other golf-related accessories, royalties from licensing of the Company’s trademarks and service marks and sales of pre-owned golf clubs.
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