Wells Fargo & Company MN increased its position in Callaway Golf Co (NYSE:ELY) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,250,888 shares of the company’s stock after purchasing an additional 20,382 shares during the period. Wells Fargo & Company MN owned 1.33% of Callaway Golf worth $18,050,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of ELY. Riverhead Capital Management LLC boosted its holdings in Callaway Golf by 69.9% in the second quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock worth $106,000 after acquiring an additional 3,426 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Callaway Golf in the second quarter worth $109,000. Flinton Capital Management LLC boosted its holdings in Callaway Golf by 71.6% in the second quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock worth $145,000 after acquiring an additional 4,726 shares in the last quarter. Amalgamated Bank boosted its holdings in 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 acquiring an additional 160 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in Callaway Golf in the second quarter worth $194,000. 88.11% of the stock is currently owned by institutional investors.
Callaway Golf Co (ELY) traded up $0.48 during mid-day trading on Thursday, reaching $14.17. The company’s stock had a trading volume of 893,419 shares, compared to its average volume of 890,190. The company has a market capitalization of $1,330.00, a P/E ratio of 7.42, a price-to-earnings-growth ratio of 1.59 and a beta of 1.11. Callaway Golf Co has a 52 week low of $9.93 and a 52 week high of $15.63.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The business had revenue of $243.60 million during the quarter, compared to analysts’ expectations of $209.52 million. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The business’s quarterly revenue was up 29.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) earnings per share. equities analysts predict that Callaway Golf Co will post 0.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 22nd were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Tuesday, November 21st. Callaway Golf’s payout ratio is 2.09%.
In related news, SVP Brian P. Lynch sold 6,277 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $15.42, for a total transaction of $96,791.34. Following the completion of the sale, the senior vice president now owns 46,184 shares in the company, valued at $712,157.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alex Mitchell Boezeman sold 16,738 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $15.31, for a total value of $256,258.78. Following the sale, the insider now owns 120,873 shares of the company’s stock, valued at approximately $1,850,565.63. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,588 shares of company stock valued at $694,031. Company insiders own 2.59% of the company’s stock.
ELY has been the topic of several analyst reports. Compass Point downgraded Callaway Golf from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $15.06 to $13.50 in a report on Wednesday, December 27th. JPMorgan Chase & Co. began coverage on Callaway Golf in a report on Thursday, December 14th. They set an “overweight” rating and a $18.00 price target on the stock. Forward View reaffirmed a “hold” rating on shares of Callaway Golf in a report on Saturday, October 28th. Cowen set a $14.00 price target on Callaway Golf and gave the company a “hold” rating in a report on Tuesday, October 24th. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of Callaway Golf in a report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. Callaway Golf presently has a consensus rating of “Buy” and an average target price of $15.82.
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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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