New York State Teachers Retirement System raised its stake in Callaway Golf Co. (NYSE:ELY) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 283,594 shares of the company’s stock after buying an additional 500 shares during the period. New York State Teachers Retirement System’s holdings in Callaway Golf were worth $2,895,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. Ngam Advisors L.P. increased its stake in shares of Callaway Golf by 11.5% in the first quarter. Ngam Advisors L.P. now owns 41,950 shares of the company’s stock valued at $383,000 after buying an additional 4,311 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Callaway Golf by 69.6% in the first quarter. TIAA CREF Investment Management LLC now owns 578,828 shares of the company’s stock valued at $5,279,000 after buying an additional 237,480 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Callaway Golf by 6.9% in the first quarter. Prudential Financial Inc. now owns 222,037 shares of the company’s stock valued at $2,025,000 after buying an additional 14,400 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Callaway Golf by 16.6% in the first quarter. BlackRock Group LTD now owns 91,827 shares of the company’s stock valued at $837,000 after buying an additional 13,046 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Callaway Golf by 2.7% in the first quarter. BlackRock Fund Advisors now owns 5,410,331 shares of the company’s stock valued at $49,342,000 after buying an additional 141,261 shares during the last quarter. 84.34% of the stock is currently owned by hedge funds and other institutional investors.
Callaway Golf Co. (NYSE:ELY) traded up 1.63% during mid-day trading on Wednesday, reaching $11.20. 606,639 shares of the company traded hands. The firm’s 50-day moving average is $11.47 and its 200 day moving average is $10.40. Callaway Golf Co. has a 52-week low of $8.00 and a 52-week high of $11.90. The stock has a market capitalization of $1.05 billion, a PE ratio of 28.35 and a beta of 1.30.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. The company had revenue of $245.60 million for the quarter, compared to analyst estimates of $242.49 million. Callaway Golf had a net margin of 4.53% and a return on equity of 8.69%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. On average, equities research analysts expect that Callaway Golf Co. will post $0.44 earnings per share for the current year.
The company also recently disclosed 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. The ex-dividend date was Tuesday, August 23rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.36%. Callaway Golf’s dividend payout ratio is currently 10.26%.
ELY has been the subject of several analyst reports. Jefferies Group reiterated a “buy” rating and set a $14.00 price target on shares of Callaway Golf in a report on Friday, August 5th. KeyCorp reiterated a “buy” rating and set a $16.00 price target on shares of Callaway Golf in a report on Friday, September 23rd. FBR & Co initiated coverage on shares of Callaway Golf in a report on Thursday, June 30th. They set an “outperform” rating and a $12.00 price target for the company. Imperial Capital boosted their price target on shares of Callaway Golf from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Finally, Roth Capital reiterated a “buy” rating and set a $11.00 price target on shares of Callaway Golf in a report on Thursday, June 30th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $13.29.
Callaway Golf Company Profile
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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