Rhumbline Advisers boosted its holdings in Callaway Golf Co (NYSE:ELY) by 15.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 226,822 shares of the company’s stock after acquiring an additional 30,468 shares during the quarter. Rhumbline Advisers owned 0.24% of Callaway Golf worth $3,160,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Arizona State Retirement System boosted its holdings in shares of Callaway Golf by 224.4% in the 4th quarter. Arizona State Retirement System now owns 158,891 shares of the company’s stock worth $2,213,000 after purchasing an additional 109,909 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in Callaway Golf during the 4th quarter valued at about $1,104,000. Pinebridge Investments L.P. boosted its holdings in Callaway Golf by 283.3% during the 4th quarter. Pinebridge Investments L.P. now owns 44,891 shares of the company’s stock valued at $626,000 after acquiring an additional 33,180 shares during the period. Advisory Research Inc. boosted its holdings in Callaway Golf by 15.1% during the 4th quarter. Advisory Research Inc. now owns 238,093 shares of the company’s stock valued at $3,317,000 after acquiring an additional 31,301 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Callaway Golf by 2.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,286,832 shares of the company’s stock valued at $17,925,000 after acquiring an additional 35,944 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.
In other news, SVP Brian P. Lynch sold 25,911 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $14.84, for a total value of $384,519.24. Following the completion of the transaction, the senior vice president now owns 31,599 shares of the company’s stock, valued at approximately $468,929.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anthony S. Thornley sold 10,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $15.14, for a total value of $151,400.00. Following the completion of the transaction, the director now directly owns 35,034 shares of the company’s stock, valued at approximately $530,414.76. The disclosure for this sale can be found here. Insiders sold a total of 177,766 shares of company stock valued at $2,782,872 in the last three months. Corporate insiders own 2.59% of the company’s stock.
Shares of Callaway Golf Co (NYSE ELY) opened at $16.23 on Friday. Callaway Golf Co has a fifty-two week low of $10.91 and a fifty-two week high of $16.59. The firm has a market capitalization of $1,553.85, a P/E ratio of 37.74, a price-to-earnings-growth ratio of 1.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.48 and a quick ratio of 0.65.
Callaway Golf (NYSE:ELY) last announced its earnings results on Wednesday, February 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. Callaway Golf had a return on equity of 7.85% and a net margin of 3.89%. The firm had revenue of $192.00 million during the quarter, compared to analyst estimates of $184.74 million. During the same quarter in the prior year, the company earned ($0.09) EPS. The business’s revenue was up 17.1% compared to the same quarter last year. sell-side analysts forecast that Callaway Golf Co will post 0.7 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 7th. Stockholders of record on Wednesday, February 14th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend was Tuesday, February 13th. Callaway Golf’s dividend payout ratio is currently 9.30%.
ELY has been the subject of several analyst reports. JPMorgan Chase & Co. initiated coverage on Callaway Golf in a report on Thursday, December 14th. They set an “overweight” rating and a $18.00 target price for the company. Compass Point cut Callaway Golf from a “neutral” rating to a “sell” rating and dropped their target price for the company from $15.06 to $13.50 in a report on Wednesday, December 27th. DA Davidson set a $18.00 target price on Callaway Golf and gave the company a “buy” rating in a report on Wednesday, December 27th. Raymond James Financial restated a “hold” rating on shares of Callaway Golf in a report on Wednesday, December 27th. Finally, Zacks Investment Research cut Callaway Golf from a “buy” rating to a “hold” rating in a report on Monday, January 1st. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Callaway Golf has a consensus rating of “Buy” and a consensus target price of $16.66.
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 its trademarks and service marks and sales of pre-owned golf clubs.
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