Great West Life Assurance Co. Can held its position in shares of Callaway Golf Co. (NYSE:ELY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,900 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Callaway Golf were worth $108,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Silver Capital Management LLC purchased a new position in shares of Callaway Golf during the second quarter valued at $102,000. Boothbay Fund Management LLC purchased a new position in shares of Callaway Golf during the first quarter valued at $112,000. Legal & General Group Plc raised its position in shares of Callaway Golf by 10.8% in the first quarter. Legal & General Group Plc now owns 12,987 shares of the company’s stock valued at $119,000 after buying an additional 1,268 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Callaway Golf during the second quarter valued at $145,000. Finally, Bank of Montreal Can purchased a new position in shares of Callaway Golf during the second quarter valued at $197,000. 84.34% of the stock is currently owned by institutional investors.
Shares of Callaway Golf Co. (NYSE:ELY) traded up 0.17% during mid-day trading on Friday, reaching $11.62. The company had a trading volume of 949,457 shares. Callaway Golf Co. has a 12 month low of $8.00 and a 12 month high of $11.90. The firm’s 50-day moving average is $11.56 and its 200 day moving average is $10.25. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 29.42 and a beta of 1.29.
Callaway Golf (NYSE:ELY) last released its earnings results on Wednesday, July 27th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. The business had revenue of $245.60 million for the quarter, compared to the consensus estimate of $242.49 million. Callaway Golf had a return on equity of 8.69% and a net margin of 4.53%. Callaway Golf’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 earnings per share. On average, equities research analysts predict that Callaway Golf Co. will post $0.44 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were given a $0.01 dividend. 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 is currently 10.26%.
Several research firms have recently issued reports on ELY. Roth Capital set a $13.00 price target on Callaway Golf and gave the stock a “buy” rating in a research note on Saturday, September 17th. Forward View reiterated a “buy” rating on shares of Callaway Golf in a research note on Sunday, July 24th. TheStreet upgraded Callaway Golf from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Imperial Capital reiterated an “outperform” rating and set a $13.00 price target on shares of Callaway Golf in a research note on Wednesday, June 8th. Finally, Vetr upgraded Callaway Golf from a “buy” rating to a “strong-buy” rating and set a $12.50 price target for the company in a research note on Monday, June 13th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Callaway Golf currently has an average rating of “Buy” and a consensus price target 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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