Empowered Funds LLC Takes Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Empowered Funds LLC bought a new position in Topgolf Callaway Brands Corp. (NYSE:MODG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 309,249 shares of the company’s stock, valued at approximately $3,396,000. Empowered Funds LLC owned about 0.17% of Topgolf Callaway Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of MODG. Leonard Green & Partners L.P. acquired a new position in shares of Topgolf Callaway Brands in the 2nd quarter valued at $97,173,000. Dimensional Fund Advisors LP boosted its holdings in Topgolf Callaway Brands by 21.8% in the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock valued at $132,296,000 after acquiring an additional 1,549,222 shares during the last quarter. American Century Companies Inc. grew its position in Topgolf Callaway Brands by 60.8% during the second quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock valued at $48,634,000 after acquiring an additional 1,202,347 shares during the period. Granite Investment Partners LLC purchased a new position in shares of Topgolf Callaway Brands in the 2nd quarter worth about $13,757,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Topgolf Callaway Brands by 115.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock worth $18,059,000 after purchasing an additional 881,535 shares during the period. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Stock Down 4.4 %

Shares of Topgolf Callaway Brands stock opened at $8.17 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. Topgolf Callaway Brands Corp. has a 1-year low of $8.16 and a 1-year high of $16.89. The business has a 50-day moving average of $10.02 and a 200-day moving average of $12.72. The company has a market capitalization of $1.50 billion, a PE ratio of -102.05, a P/E/G ratio of 5.39 and a beta of 1.75.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MODG. Jefferies Financial Group cut Topgolf Callaway Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $12.00 in a report on Thursday, August 29th. Truist Financial dropped their price objective on shares of Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. The Goldman Sachs Group reduced their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Raymond James downgraded Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Finally, KeyCorp cut Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Topgolf Callaway Brands presently has a consensus rating of “Hold” and a consensus target price of $14.92.

Topgolf Callaway Brands Company Profile

Topgolf Callaway Brands Corp. designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology; and World Golf Tour digital golf game.