Glenmede Trust Co. NA increased its holdings in Callaway Golf Co (NYSE:ELY) by 21.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,195,788 shares of the company’s stock after acquiring an additional 573,445 shares during the period. Glenmede Trust Co. NA owned about 3.38% of Callaway Golf worth $44,515,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Callaway Golf by 3.0% in the fourth quarter. BlackRock Inc. now owns 12,070,025 shares of the company’s stock valued at $168,135,000 after acquiring an additional 351,863 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Callaway Golf by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock valued at $95,720,000 after purchasing an additional 240,520 shares during the last quarter. Copper Rock Capital Partners LLC lifted its stake in Callaway Golf by 24.9% in the fourth quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock valued at $34,117,000 after purchasing an additional 483,441 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Callaway Golf by 11.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,493,110 shares of the company’s stock valued at $20,800,000 after purchasing an additional 148,068 shares during the last quarter. Finally, Thornburg Investment Management Inc. lifted its stake in Callaway Golf by 5.1% in the third quarter. Thornburg Investment Management Inc. now owns 1,396,845 shares of the company’s stock valued at $20,156,000 after purchasing an additional 68,207 shares during the last quarter. 89.07% of the stock is owned by institutional investors.
Shares of Callaway Golf Co (NYSE:ELY) opened at $16.05 on Friday. The stock has a market capitalization of $1,518.84, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06. Callaway Golf Co has a 12-month low of $10.91 and a 12-month high of $16.24. The company has a current ratio of 1.48, a quick ratio of 0.65 and a debt-to-equity ratio of 0.02.
Callaway Golf (NYSE:ELY) last posted 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. The firm had revenue of $192.00 million for the quarter, compared to the consensus estimate of $184.74 million. Callaway Golf had a return on equity of 7.85% and a net margin of 3.89%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.09) earnings per share. sell-side analysts forecast that Callaway Golf Co will post 0.7 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 7th. Shareholders of record on Wednesday, February 14th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.25%. Callaway Golf’s dividend payout ratio is currently 9.30%.
In other Callaway Golf news, SVP Richard H. Arnett sold 8,193 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $16.00, for a total transaction of $131,088.00. Following the sale, the senior vice president now owns 20,241 shares in the company, valued at $323,856. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alex Mitchell Boezeman sold 16,738 shares of the stock in a transaction on 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 in the company, valued at approximately $1,850,565.63. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 194,504 shares of company stock worth $3,039,131. Company insiders own 2.59% of the company’s stock.
Several research firms recently commented on ELY. Zacks Investment Research upgraded Callaway Golf from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, March 13th. ValuEngine upgraded Callaway Golf from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. TheStreet upgraded Callaway Golf from a “c+” rating to a “b” rating in a research note on Wednesday, February 14th. Jefferies Group reiterated a “buy” rating and issued a $21.00 price objective on shares of Callaway Golf in a research note on Thursday, February 8th. Finally, Cowen upgraded Callaway Golf from a “sell” rating to a “neutral” rating and set a $14.00 price objective on the stock in a research note on Wednesday, February 7th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Callaway Golf currently has a consensus rating of “Buy” and a consensus price target of $16.61.
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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 its trademarks and service marks and sales of pre-owned golf clubs.
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