PineBridge Investments L.P. boosted its position in Callaway Golf Co. (NYSE:ELY) by 4.0% during the second quarter, Holdings Channel reports. The firm owned 11,914 shares of the company’s stock after buying an additional 457 shares during the period. PineBridge Investments L.P.’s holdings in Callaway Golf were worth $121,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in ELY. Ngam Advisors L.P. raised its stake in shares of Callaway Golf by 1.1% in the second quarter. Ngam Advisors L.P. now owns 42,393 shares of the company’s stock worth $433,000 after buying an additional 443 shares during the period. Capstone Asset Management Co. raised its stake in shares of Callaway Golf by 1.9% in the second quarter. Capstone Asset Management Co. now owns 25,070 shares of the company’s stock worth $256,000 after buying an additional 460 shares during the period. Legal & General Group Plc raised its stake 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 worth $119,000 after buying an additional 1,268 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of Callaway Golf by 2.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 56,569 shares of the company’s stock worth $516,000 after buying an additional 1,394 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of Callaway Golf by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 12,560 shares of the company’s stock worth $128,000 after buying an additional 1,523 shares during the period. Hedge funds and other institutional investors own 84.34% of the company’s stock.
Callaway Golf Co. (NYSE:ELY) opened at 11.30 on Wednesday. The stock has a market cap of $1.06 billion, a P/E ratio of 28.61 and a beta of 1.30. Callaway Golf Co. has a 52 week low of $8.00 and a 52 week high of $11.90. The stock has a 50 day moving average of $11.54 and a 200-day moving average of $10.33.
Callaway Golf (NYSE:ELY) last released its earnings results on Wednesday, July 27th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. Callaway Golf had a net margin of 4.53% and a return on equity of 8.69%. The business had revenue of $245.60 million for the quarter, compared to the consensus estimate of $242.49 million. During the same period in the previous year, the firm earned $0.15 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts forecast that Callaway Golf Co. will post $0.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Tuesday, August 23rd. Callaway Golf’s dividend payout ratio (DPR) is currently 10.26%.
A number of analysts recently issued reports on the stock. Forward View restated a “buy” rating on shares of Callaway Golf in a research report on Sunday, July 24th. Roth Capital set a $13.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Saturday, September 17th. Jefferies Group restated a “buy” rating and set a $14.00 target price on shares of Callaway Golf in a research report on Thursday, July 28th. Imperial Capital raised their target price on shares of Callaway Golf from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Finally, Vetr raised shares of 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. One equities research analyst has 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 has a consensus rating of “Buy” and a consensus price target of $13.29.
Callaway Golf Company Profile
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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