APG Asset Management N.V. Buys New Stake in Callaway Golf Co (NYSE:ELY)

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APG Asset Management N.V. purchased a new position in shares of Callaway Golf Co (NYSE:ELY) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 82,700 shares of the company’s stock, valued at approximately $1,173,000. APG Asset Management N.V. owned 0.09% of Callaway Golf as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. raised its position in Callaway Golf by 14,433.5% during the first quarter. Franklin Resources Inc. now owns 1,671,787 shares of the company’s stock valued at $17,086,000 after acquiring an additional 1,660,284 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Callaway Golf by 73.0% during the 1st quarter. TimesSquare Capital Management LLC now owns 3,352,580 shares of the company’s stock worth $34,263,000 after purchasing an additional 1,414,470 shares during the period. Norges Bank purchased a new position in shares of Callaway Golf during the 4th quarter valued at approximately $20,674,000. Ziegler Capital Management LLC acquired a new position in shares of Callaway Golf in the 1st quarter valued at $7,246,000. Finally, Point72 Asset Management L.P. boosted its holdings in Callaway Golf by 147.1% during the fourth quarter. Point72 Asset Management L.P. now owns 1,165,717 shares of the company’s stock worth $24,713,000 after buying an additional 693,978 shares in the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

ELY stock opened at $17.69 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average of $15.50 and a two-hundred day moving average of $16.21. Callaway Golf Co has a 12 month low of $4.75 and a 12 month high of $22.33. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 22.39 and a beta of 1.96.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Callaway Golf had a return on equity of 9.95% and a net margin of 3.67%. The business had revenue of $442.28 million during the quarter, compared to analyst estimates of $440.70 million. During the same period in the prior year, the business earned $0.63 earnings per share. The business’s revenue was down 14.3% compared to the same quarter last year. As a group, equities analysts forecast that Callaway Golf Co will post 0.29 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date was Tuesday, May 26th. Callaway Golf’s payout ratio is currently 3.64%.

Several equities research analysts have recently issued reports on ELY shares. B. Riley lowered their target price on shares of Callaway Golf from $30.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Raymond James lifted their price target on shares of Callaway Golf from $14.50 to $17.50 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. Compass Point reduced their price objective on shares of Callaway Golf from $20.00 to $17.50 and set a “buy” rating for the company in a research report on Monday, May 11th. KeyCorp increased their price objective on shares of Callaway Golf from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Finally, SunTrust Banks boosted their target price on shares of Callaway Golf from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $20.82.

Callaway Golf Profile

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.

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Institutional Ownership by Quarter for Callaway Golf (NYSE:ELY)

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