Mutual of America Capital Management LLC Sells 67,737 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Mutual of America Capital Management LLC lessened its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 73.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,867 shares of the company’s stock after selling 67,737 shares during the period. Mutual of America Capital Management LLC’s holdings in Topgolf Callaway Brands were worth $357,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MODG. North Star Investment Management Corp. increased its position in Topgolf Callaway Brands by 57,166.7% during the fourth quarter. North Star Investment Management Corp. now owns 120,260 shares of the company’s stock valued at $1,725,000 after acquiring an additional 120,050 shares during the last quarter. Vanguard Group Inc. increased its position in Topgolf Callaway Brands by 0.9% during the third quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company’s stock valued at $187,636,000 after acquiring an additional 116,267 shares during the last quarter. State of Alaska Department of Revenue increased its position in Topgolf Callaway Brands by 422.9% during the fourth quarter. State of Alaska Department of Revenue now owns 87,406 shares of the company’s stock valued at $1,253,000 after acquiring an additional 70,689 shares during the last quarter. Thompson Investment Management Inc. increased its position in Topgolf Callaway Brands by 40.9% during the fourth quarter. Thompson Investment Management Inc. now owns 355,344 shares of the company’s stock valued at $5,096,000 after acquiring an additional 103,134 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Topgolf Callaway Brands during the fourth quarter valued at $9,412,000. Institutional investors own 84.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. KeyCorp cut their price objective on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Raymond James upped their price target on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, Tigress Financial restated a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.64.

Topgolf Callaway Brands Stock Up 2.2 %

NYSE:MODG opened at $16.17 on Wednesday. Topgolf Callaway Brands Corp. has a 1-year low of $9.84 and a 1-year high of $22.97. The company has a 50-day moving average of $15.12 and a 200 day moving average of $13.85. The firm has a market cap of $2.97 billion, a PE ratio of 35.15, a price-to-earnings-growth ratio of 1.66 and a beta of 1.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.72 and a quick ratio of 0.88.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The company had revenue of $897.10 million during the quarter, compared to analyst estimates of $867.25 million. During the same period in the prior year, the firm earned ($0.27) earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the sale, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the transaction, the director now directly owns 2,242 shares of the company’s stock, valued at approximately $33,159.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the transaction, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The disclosure for this sale can be found here. Insiders own 11.97% of the company’s stock.

About Topgolf Callaway Brands

Topgolf Callaway Brands Corp. designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology; and World Golf Tour digital golf game.