According to Fintel, Stephens & Co. reaffirmed its coverage of Topgolf Callaway Brands (NYSE:MODG) on May 23, 2023, with an Overweight recommendation.
The average one-year price target for Topgolf Callaway Brands as of May 11, 2023, was 33.50, with predictions ranging from 20.20 to 58.80. This represents an increase of 103.67% from the latest reported closing price of 16.45.
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Topgolf Callaway Brands is projected to earn 4,469MM annually, an 8.39% increase, and has a projected annual non-GAAP EPS of 0.89.
Currently, 706 funds or institutions report owning shares in Topgolf Callaway Brands. These represent a decrease of 14 owners (1.94%) in the last quarter. The average portfolio weight of all funds is 0.33%, which is a 3.45% increase. As of the last quarter, total shares owned by institutions increased by 0.82% to 173,322K shares. The put/call ratio of MODG is 0.41, indicating a bullish outlook.
Institutions that own Topgolf Callaway Brands include Providence Equity Partners L.L.C. which holds 21,175K shares that represents ownership of the company at 11.41%, with no changes in the last quarter. The Goldman Sachs Group owns 4,750K shares, representing 2.56% ownership of the company. In the prior filing, the firm reported owning 3,325K shares, indicating a 30% increase. The firm decreased its portfolio allocation in MODG by 56.71% over the last quarter. Boston Partners also owns 4,332K shares, representing a 2.33% ownership of the company. In the prior filing, the firm reported owning 7,505K shares, representing a decrease of 73.24%. The firm decreased its portfolio allocation in MODG by 75.47% over the last quarter.
IJH – iShares Core S&P Mid-Cap ETF owns 4,281K shares, representing 2.31% ownership of the company. In its prior filing, the firm reported owning 4,043K shares, indicating a 5.58% increase. The firm decreased its portfolio allocation in MODG by 5.21% over the last quarter. Lastly, VTSMX – Vanguard Total Stock Market Index Fund Investor Shares, owns 4,192K shares, representing 2.26% ownership of the company. In its prior filing, the firm reported owning 4,150K shares, indicating a 0.99% increase. The firm decreased its portfolio allocation in MODG by 4.35% over the past quarter.
Based on the provided description by the company, Callaway Golf Company is a golf equipment and active lifestyle company that manufactures and sells premium golf clubs, golf balls, golf and lifestyle bags, golf and lifestyle apparel, and other accessories.
This story originally appeared on Fintel.
The author’s views and opinions in this article do not necessarily represent those of Nasdaq, Inc.
