California Public Employees Retirement System raised its holdings in shares of Callaway Golf Co (NYSE:ELY) by 25.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,376 shares of the company’s stock after buying an additional 9,170 shares during the period. California Public Employees Retirement System’s holdings in Callaway Golf were worth $861,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new position in Callaway Golf in the 2nd quarter worth approximately $135,000. Brown Advisory Inc. acquired a new position in Callaway Golf in the 1st quarter worth approximately $173,000. NumerixS Investment Technologies Inc boosted its stake in Callaway Golf by 348.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 11,200 shares of the company’s stock worth $215,000 after purchasing an additional 8,700 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Callaway Golf in the 2nd quarter worth approximately $227,000. Finally, Trexquant Investment LP acquired a new position in Callaway Golf in the 2nd quarter worth approximately $228,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.
ELY stock opened at $21.72 on Friday. Callaway Golf Co has a 12-month low of $13.49 and a 12-month high of $24.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.28 and a quick ratio of 1.14. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 40.98, a P/E/G ratio of 0.84 and a beta of 1.05.
Callaway Golf (NYSE:ELY) last released its earnings results on Wednesday, October 24th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09. Callaway Golf had a net margin of 9.08% and a return on equity of 16.48%. The company had revenue of $262.65 million during the quarter, compared to the consensus estimate of $250.83 million. On average, research analysts expect that Callaway Golf Co will post 1.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be given a $0.01 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $0.04 dividend on an annualized basis and a yield of 0.18%. Callaway Golf’s payout ratio is 7.55%.
A number of equities analysts recently commented on the stock. Cowen raised their price objective on shares of Callaway Golf from $21.00 to $24.00 and gave the stock a “hold” rating in a research note on Friday, September 28th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Callaway Golf in a research note on Thursday, September 27th. Imperial Capital raised their price objective on shares of Callaway Golf from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 7th. They noted that the move was a valuation call. SunTrust Banks reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Callaway Golf in a research note on Friday, August 3rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Callaway Golf in a research note on Monday, October 29th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $23.00.
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Callaway Golf Profile
Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.
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