Arizona State Retirement System lifted its position in Callaway Golf Co (NYSE:ELY) by 224.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,891 shares of the company’s stock after buying an additional 109,909 shares during the quarter. Arizona State Retirement System’s holdings in Callaway Golf were worth $2,213,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of ELY. Copper Rock Capital Partners LLC lifted its stake in shares of Callaway Golf by 24.9% in the fourth quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock worth $34,117,000 after buying an additional 483,441 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Callaway Golf in the fourth quarter worth $5,760,000. Dimensional Fund Advisors LP lifted its stake in shares of Callaway Golf by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock worth $95,720,000 after buying an additional 240,520 shares during the last quarter. Nicholas Investment Partners LP lifted its stake in shares of Callaway Golf by 54.3% in the third quarter. Nicholas Investment Partners LP now owns 547,079 shares of the company’s stock worth $7,894,000 after buying an additional 192,472 shares during the last quarter. Finally, Profit Investment Management LLC acquired a new stake in shares of Callaway Golf in the fourth quarter worth $2,050,000. Institutional investors and hedge funds own 86.76% of the company’s stock.
A number of brokerages have recently weighed in on ELY. Zacks Investment Research cut shares of Callaway Golf from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet raised shares of Callaway Golf from a “c+” rating to a “b” rating in a research report on Wednesday, February 14th. ValuEngine raised shares of Callaway Golf from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Compass Point lowered shares of Callaway Golf from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $15.06 to $13.50 in a research report on Wednesday, December 27th. Finally, DA Davidson set a $18.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Wednesday, December 27th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $16.61.
Callaway Golf (NYSE:ELY) last announced its quarterly earnings results on Wednesday, February 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. The firm had revenue of $192.00 million for the quarter, compared to analyst estimates of $184.74 million. Callaway Golf had a net margin of 3.89% and a return on equity of 7.85%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) EPS. analysts expect that Callaway Golf Co will post 0.7 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 7th. Shareholders of record on Wednesday, February 14th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Tuesday, February 13th. Callaway Golf’s dividend payout ratio (DPR) is presently 8.00%.
In other Callaway Golf news, insider Neil Howie sold 24,838 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $15.75, for a total value of $391,198.50. Following the sale, the insider now owns 95,803 shares of the company’s stock, valued at approximately $1,508,897.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alex Mitchell Boezeman sold 16,738 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $15.31, for a total transaction of $256,258.78. Following the completion of the sale, the insider now directly owns 120,873 shares in the company, valued at approximately $1,850,565.63. The disclosure for this sale can be found here. Insiders sold a total of 194,504 shares of company stock worth $3,039,131 in the last three months. Insiders own 2.59% of the company’s stock.
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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 its trademarks and service marks and sales of pre-owned golf clubs.
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