Swiss National Bank lifted its position in shares of Callaway Golf Co (NYSE:ELY) by 3.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 160,800 shares of the company’s stock after buying an additional 5,300 shares during the quarter. Swiss National Bank’s holdings in Callaway Golf were worth $2,240,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ELY. Copper Rock Capital Partners LLC lifted its stake in shares of Callaway Golf by 24.9% during the 4th quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock valued at $34,117,000 after buying an additional 483,441 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Callaway Golf during the 4th quarter valued at $5,760,000. Dimensional Fund Advisors LP lifted its stake in shares of Callaway Golf by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock valued at $95,720,000 after buying an additional 240,520 shares in the last quarter. Nicholas Investment Partners LP lifted its stake in shares of Callaway Golf by 54.3% during the 3rd quarter. Nicholas Investment Partners LP now owns 547,079 shares of the company’s stock valued at $7,894,000 after buying an additional 192,472 shares in the last quarter. Finally, Profit Investment Management LLC purchased a new position in shares of Callaway Golf during the 4th quarter valued at $2,050,000. Institutional investors own 86.76% of the company’s stock.
In other news, insider Neil Howie sold 68,824 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $15.76, for a total value of $1,084,666.24. Following the sale, the insider now directly owns 133,001 shares in the company, valued at approximately $2,096,095.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Richard H. Arnett sold 8,193 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $16.00, for a total transaction of $131,088.00. Following the completion of the sale, the senior vice president now owns 20,241 shares in the company, valued at $323,856. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,504 shares of company stock worth $3,039,131. Insiders own 2.59% of the company’s stock.
Callaway Golf (NYSE:ELY) last posted its earnings results on Wednesday, February 7th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. Callaway Golf had a net margin of 3.89% and a return on equity of 7.85%. The firm had revenue of $192.00 million for the quarter, compared to the consensus estimate of $184.74 million. During the same period in the previous year, the firm posted ($0.09) EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis. research analysts anticipate that Callaway Golf Co will post 0.7 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 7th. Stockholders of record on Wednesday, February 14th were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.25%. Callaway Golf’s dividend payout ratio (DPR) is presently 9.30%.
ELY has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Callaway Golf in a report on Thursday, December 14th. They issued an “overweight” rating and a $18.00 price target on the stock. Compass Point downgraded shares of Callaway Golf from a “neutral” rating to a “sell” rating and reduced their price target for the company from $15.06 to $13.50 in a report on Wednesday, December 27th. DA Davidson set a $18.00 price target on shares of Callaway Golf and gave the company a “buy” rating in a report on Wednesday, December 27th. Raymond James Financial reiterated a “hold” rating on shares of Callaway Golf in a report on Wednesday, December 27th. Finally, Zacks Investment Research downgraded shares of Callaway Golf from a “buy” rating to a “hold” rating in a report on Monday, January 1st. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $16.61.
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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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