State Street Corp lifted its stake in Callaway Golf Company (NYSE:ELY) by 2.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,215,678 shares of the company’s stock after purchasing an additional 59,853 shares during the quarter. State Street Corp owned 2.35% of Callaway Golf worth $28,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Alps Advisors Inc. lifted its position in shares of Callaway Golf by 0.3% in the second quarter. Alps Advisors Inc. now owns 44,544 shares of the company’s stock worth $569,000 after purchasing an additional 114 shares in the last quarter. Amalgamated Bank lifted its position in shares of Callaway Golf by 1.3% in the second quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock worth $164,000 after purchasing an additional 160 shares in the last quarter. Atria Investments LLC lifted its position in shares of Callaway Golf by 1.5% in the second quarter. Atria Investments LLC now owns 19,633 shares of the company’s stock worth $251,000 after purchasing an additional 283 shares in the last quarter. Suntrust Banks Inc. lifted its position in shares of Callaway Golf by 2.0% in the second quarter. Suntrust Banks Inc. now owns 18,397 shares of the company’s stock worth $235,000 after purchasing an additional 361 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its position in shares of Callaway Golf by 3.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 28,790 shares of the company’s stock worth $368,000 after purchasing an additional 830 shares in the last quarter. 88.92% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on ELY. Zacks Investment Research lowered shares of Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Forward View reissued a “hold” rating on shares of Callaway Golf in a research report on Saturday, October 28th. KeyCorp set a $16.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Saturday, October 21st. Cowen and Company set a $14.00 price target on shares of Callaway Golf and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Finally, DA Davidson reissued a “buy” rating and issued a $16.00 price target on shares of Callaway Golf in a research report on Wednesday, September 20th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $15.67.
In other Callaway Golf news, SVP Alan Hocknell sold 41,051 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $13.75, for a total transaction of $564,451.25. Following the transaction, the senior vice president now owns 73,227 shares in the company, valued at $1,006,871.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer L. Thomas sold 19,349 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $13.90, for a total value of $268,951.10. Following the transaction, the insider now owns 30,189 shares in the company, valued at approximately $419,627.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,871 shares of company stock worth $1,601,788. Corporate insiders own 2.59% of the company’s stock.
Callaway Golf Company (NYSE:ELY) opened at $14.00 on Friday. Callaway Golf Company has a twelve month low of $9.93 and a twelve month high of $15.63. The company has a market capitalization of $1,323.50, a P/E ratio of 27.45, a P/E/G ratio of 1.83 and a beta of 1.10.
Callaway Golf (NYSE:ELY) last released its quarterly earnings data on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The firm had revenue of $243.60 million for the quarter, compared to the consensus estimate of $209.52 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The firm’s revenue was up 29.7% on a year-over-year basis. equities research analysts forecast that Callaway Golf Company will post 0.51 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 22nd will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, November 21st. This represents a $0.04 annualized dividend and a yield of 0.29%. Callaway Golf’s dividend payout ratio (DPR) is presently 2.09%.
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Callaway Golf 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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