Ameriprise Financial Inc. reduced its position in shares of Callaway Golf Co. (NYSE:ELY) by 9.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,426,077 shares of the company’s stock after selling 148,015 shares during the period. Ameriprise Financial Inc. owned 1.52% of Callaway Golf worth $14,553,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its stake in Callaway Golf by 2.7% in the first quarter. BlackRock Fund Advisors now owns 5,410,331 shares of the company’s stock worth $49,342,000 after buying an additional 141,261 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Callaway Golf by 5.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,228,493 shares of the company’s stock worth $20,324,000 after buying an additional 123,306 shares in the last quarter. Northpointe Capital LLC boosted its stake in Callaway Golf by 52.5% in the second quarter. Northpointe Capital LLC now owns 1,344,771 shares of the company’s stock worth $13,730,000 after buying an additional 463,215 shares in the last quarter. Heartland Advisors Inc. boosted its stake in Callaway Golf by 127.5% in the second quarter. Heartland Advisors Inc. now owns 909,830 shares of the company’s stock worth $9,289,000 after buying an additional 509,830 shares in the last quarter. Finally, Norges Bank bought a new stake in Callaway Golf during the fourth quarter worth approximately $7,777,000. Institutional investors and hedge funds own 84.34% of the company’s stock.
Callaway Golf Co. (NYSE:ELY) traded down 0.76% during trading on Friday, reaching $11.73. The company had a trading volume of 832,164 shares. The stock has a 50 day moving average of $11.53 and a 200-day moving average of $10.17. Callaway Golf Co. has a 12 month low of $7.97 and a 12 month high of $11.84. The company has a market capitalization of $1.10 billion, a P/E ratio of 29.70 and a beta of 1.29.
Callaway Golf (NYSE:ELY) last announced its earnings results on Wednesday, July 27th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. The company had revenue of $245.60 million for the quarter, compared to analyst estimates of $242.49 million. Callaway Golf had a return on equity of 8.69% and a net margin of 4.53%. Callaway Golf’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 earnings per share. Equities research analysts expect that Callaway Golf Co. will post $0.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Tuesday, August 23rd. Callaway Golf’s dividend payout ratio (DPR) is presently 10.26%.
A number of analysts recently commented on the company. Forward View reiterated a “buy” rating on shares of Callaway Golf in a research report on Sunday, July 24th. Roth Capital set a $13.00 price objective on Callaway Golf and gave the stock a “buy” rating in a research report on Saturday, September 17th. TheStreet upgraded Callaway Golf from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Imperial Capital reissued an “outperform” rating and issued a $13.00 price target on shares of Callaway Golf in a research note on Wednesday, June 8th. Finally, Vetr raised Callaway Golf from a “buy” rating to a “strong-buy” rating and set a $12.50 price target on the stock in a research note on Monday, June 13th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $13.07.
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.
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