Callaway Golf Company (ELY) Holdings Maintained by KBC Group NV
KBC Group NV maintained its stake in shares of Callaway Golf Company (NYSE:ELY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,446 shares of the company’s stock at the end of the 2nd quarter. KBC Group NV’s holdings in Callaway Golf were worth $197,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Callaway Golf by 56,247.6% in the first quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock valued at $129,526,000 after purchasing an additional 11,679,804 shares during the period. Dynamic Technology Lab Private Ltd lifted its stake in shares of Callaway Golf by 6.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 37,917 shares of the company’s stock valued at $419,000 after purchasing an additional 2,261 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Callaway Golf in the first quarter valued at about $1,209,000. UBS Group AG lifted its stake in shares of Callaway Golf by 4.5% in the first quarter. UBS Group AG now owns 265,077 shares of the company’s stock valued at $2,934,000 after purchasing an additional 11,350 shares during the period. Finally, Kennedy Capital Management Inc. lifted its stake in shares of Callaway Golf by 161.1% in the first quarter. Kennedy Capital Management Inc. now owns 973,299 shares of the company’s stock valued at $10,774,000 after purchasing an additional 600,557 shares during the period. Hedge funds and other institutional investors own 87.63% of the company’s stock.
Shares of Callaway Golf Company (NYSE:ELY) opened at 13.73 on Monday. Callaway Golf Company has a one year low of $9.77 and a one year high of $14.11. The stock has a market capitalization of $1.30 billion, a P/E ratio of 7.59 and a beta of 1.18. The stock’s 50 day moving average is $13.11 and its 200-day moving average is $12.22.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.05. The firm had revenue of $304.50 million for the quarter, compared to the consensus estimate of $295.70 million. Callaway Golf had a return on equity of 6.60% and a net margin of 18.09%. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. On average, equities research analysts expect that Callaway Golf Company will post $0.44 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 22nd will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.04 annualized dividend and a yield of 0.29%. Callaway Golf’s payout ratio is presently 2.20%.
In other Callaway Golf news, SVP Alan Hocknell sold 57,138 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $13.30, for a total transaction of $759,935.40. Following the sale, the senior vice president now owns 115,045 shares in the company, valued at approximately $1,530,098.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Oliver G. Brewer III sold 131,884 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $13.31, for a total value of $1,755,376.04. Following the sale, the insider now owns 291,399 shares in the company, valued at approximately $3,878,520.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 281,113 shares of company stock worth $3,792,388. Corporate insiders own 2.59% of the company’s stock.
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Several research firms have weighed in on ELY. Imperial Capital restated an “outperform” rating and set a $16.00 target price (up from $14.50) on shares of Callaway Golf in a report on Wednesday, August 9th. Cowen and Company began coverage on shares of Callaway Golf in a report on Wednesday, June 14th. They set a “market perform” rating and a $14.00 target price for the company. Aegis restated a “buy” rating on shares of Callaway Golf in a report on Monday, September 4th. Compass Point downgraded shares of Callaway Golf from a “buy” rating to a “neutral” rating and raised their target price for the company from $13.60 to $13.75 in a report on Monday, August 7th. Finally, Forward View downgraded shares of Callaway Golf to a “hold” rating and set a $14.00 target price for the company. in a report on Saturday, August 5th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Callaway Golf currently has an average rating of “Buy” and an average target price of $14.98.
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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