Fisher Asset Management LLC Reduces Stock Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Fisher Asset Management LLC reduced its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 67.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,050,399 shares of the company’s stock after selling 2,223,381 shares during the quarter. Fisher Asset Management LLC’s holdings in Topgolf Callaway Brands were worth $11,533,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MODG. Louisiana State Employees Retirement System boosted its stake in Topgolf Callaway Brands by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 71,100 shares of the company’s stock valued at $1,088,000 after acquiring an additional 700 shares during the last quarter. Creative Planning lifted its position in shares of Topgolf Callaway Brands by 6.8% during the second quarter. Creative Planning now owns 22,201 shares of the company’s stock worth $340,000 after purchasing an additional 1,415 shares during the last quarter. SG Americas Securities LLC grew its stake in Topgolf Callaway Brands by 5.2% in the second quarter. SG Americas Securities LLC now owns 36,961 shares of the company’s stock worth $566,000 after purchasing an additional 1,819 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Topgolf Callaway Brands by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock valued at $1,200,000 after buying an additional 1,888 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Topgolf Callaway Brands by 327.6% during the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock valued at $39,000 after buying an additional 1,936 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Down 0.1 %

MODG opened at $8.31 on Thursday. The stock’s 50 day moving average price is $9.87 and its 200 day moving average price is $12.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The stock has a market cap of $1.53 billion, a P/E ratio of -103.80, a P/E/G ratio of 6.02 and a beta of 1.75. Topgolf Callaway Brands Corp. has a 12 month low of $7.95 and a 12 month high of $16.89.

Analysts Set New Price Targets

MODG has been the subject of a number of research analyst reports. Truist Financial lowered their price target on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Jefferies Financial Group lowered shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and lowered their target price for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. The Goldman Sachs Group reduced their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Roth Mkm reaffirmed a “buy” rating and set a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Finally, B. Riley cut shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Company Profile

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.