Callaway Golf Co (NYSE:ELY) insider Neil Howie sold 70,089 shares of the business’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $11.50, for a total transaction of $806,023.50. Following the transaction, the insider now owns 90,173 shares of the company’s stock, valued at approximately $1,036,989.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Callaway Golf Co (NYSE:ELY) traded down 2.11% on Friday, reaching $11.13. 447,609 shares of the company’s stock were exchanged. Callaway Golf Co has a 52-week low of $8.78 and a 52-week high of $12.56. The stock has a market cap of $1.05 billion, a P/E ratio of 5.62 and a beta of 1.33. The company’s 50 day moving average price is $10.64 and its 200-day moving average price is $11.20.
Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Thursday, February 2nd. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by $0.01. The company had revenue of $164 million for the quarter, compared to analyst estimates of $170.87 million. Callaway Golf had a return on equity of 9.93% and a net margin of 21.80%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned ($0.29) EPS. Equities analysts forecast that Callaway Golf Co will post $0.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 20th. Stockholders of record on Monday, February 27th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Thursday, February 23rd. Callaway Golf’s dividend payout ratio (DPR) is 2.02%.
A number of research analysts recently issued reports on the stock. Imperial Capital restated an “outperform” rating and set a $14.00 price objective on shares of Callaway Golf in a report on Wednesday, November 30th. Compass Point cut shares of Callaway Golf from a “buy” rating to a “neutral” rating in a report on Wednesday, November 30th. Zacks Investment Research cut shares of Callaway Golf from a “buy” rating to a “hold” rating in a report on Friday, December 2nd. Jefferies Group LLC set a $16.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a report on Monday, December 12th. Finally, Wunderlich reaffirmed a “buy” rating and issued a $15.00 price target on shares of Callaway Golf in a research note on Thursday, January 5th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Callaway Golf presently has an average rating of “Buy” and an average price target of $13.61.
Several hedge funds have recently made changes to their positions in ELY. Scopus Asset Management L.P. bought a new stake in shares of Callaway Golf during the third quarter valued at approximately $30,767,000. Norges Bank bought a new stake in shares of Callaway Golf during the fourth quarter valued at approximately $12,313,000. Thornburg Investment Management Inc. bought a new stake in shares of Callaway Golf during the fourth quarter valued at approximately $10,601,000. Columbus Circle Investors bought a new stake in shares of Callaway Golf during the third quarter valued at approximately $9,938,000. Finally, FMR LLC increased its stake in shares of Callaway Golf by 20.9% in the fourth quarter. FMR LLC now owns 4,305,000 shares of the company’s stock valued at $47,183,000 after buying an additional 742,800 shares during the period. 85.85% of the stock is owned by institutional investors.
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.