State Street Corp increased its stake in Callaway Golf Co (NYSE:ELY) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,086,714 shares of the company’s stock after buying an additional 9,222 shares during the period. State Street Corp’s holdings in Callaway Golf were worth $22,867,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Atria Investments LLC bought a new stake in shares of Callaway Golf during the third quarter valued at $196,000. Aperio Group LLC raised its stake in shares of Callaway Golf by 12.7% in the third quarter. Aperio Group LLC now owns 20,114 shares of the company’s stock valued at $234,000 after buying an additional 2,269 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Callaway Golf during the third quarter valued at $245,000. BlackRock Inc. raised its stake in shares of Callaway Golf by 5.8% in the third quarter. BlackRock Inc. now owns 22,034 shares of the company’s stock valued at $256,000 after buying an additional 1,203 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new stake in shares of Callaway Golf during the third quarter valued at $266,000. 85.85% of the stock is currently owned by hedge funds and other institutional investors.
Callaway Golf Co (NYSE:ELY) opened at 11.07 on Friday. The company has a market cap of $1.05 billion, a PE ratio of 5.59 and a beta of 1.33. Callaway Golf Co has a 52 week low of $8.91 and a 52 week high of $12.56. The company’s 50-day moving average price is $10.76 and its 200 day moving average price is $11.18.
Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Thursday, February 2nd. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. Callaway Golf had a return on equity of 9.93% and a net margin of 21.80%. The firm had revenue of $164 million for the quarter, compared to analyst estimates of $170.87 million. During the same period in the previous year, the business posted ($0.29) EPS. Callaway Golf’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts anticipate that Callaway Golf Co will post $0.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 20th. Stockholders of record on Monday, February 27th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Thursday, February 23rd. Callaway Golf’s payout ratio is presently 2.02%.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised Callaway Golf from a “sell” rating to a “hold” rating in a research report on Monday, March 13th. Imperial Capital lowered their price target on Callaway Golf from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, February 7th. DA Davidson reissued a “buy” rating and set a $14.00 price target on shares of Callaway Golf in a report on Tuesday, January 31st. KeyCorp reissued a “positive” rating and set a $16.00 price target on shares of Callaway Golf in a report on Tuesday, March 21st. Finally, Wunderlich reissued a “buy” rating and set a $15.00 price target on shares of Callaway Golf in a report on Friday, January 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $13.61.
In other news, insider Neil Howie sold 70,089 shares of Callaway Golf stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $11.50, for a total transaction of $806,023.50. Following the sale, 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 available through the SEC website. 2.10% of the stock is currently owned by company insiders.
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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