Thornburg Investment Management Inc. increased its stake in shares of Callaway Golf Company (NYSE:ELY) by 5.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,396,845 shares of the company’s stock after acquiring an additional 68,207 shares during the period. Thornburg Investment Management Inc. owned 1.48% of Callaway Golf worth $20,156,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Alps Advisors Inc. boosted its stake in Callaway Golf by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 44,544 shares of the company’s stock valued at $569,000 after purchasing an additional 114 shares during the period. Amalgamated Bank boosted its stake in Callaway Golf by 1.3% during the 2nd quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock valued at $164,000 after purchasing an additional 160 shares during the period. Suntrust Banks Inc. boosted its stake in Callaway Golf by 2.0% during the 2nd quarter. Suntrust Banks Inc. now owns 18,397 shares of the company’s stock valued at $235,000 after purchasing an additional 361 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Callaway Golf by 3.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 28,790 shares of the company’s stock valued at $368,000 after purchasing an additional 830 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Callaway Golf by 2.6% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 67,081 shares of the company’s stock valued at $743,000 after purchasing an additional 1,710 shares during the period. 88.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of Callaway Golf Company (NYSE:ELY) opened at $14.43 on Thursday. Callaway Golf Company has a 52-week low of $9.93 and a 52-week high of $15.63. The company has a market capitalization of $1,363.21, a P/E ratio of 28.27, a price-to-earnings-growth ratio of 1.88 and a beta of 1.10.

Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.09. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The company had revenue of $243.60 million during the quarter, compared to the consensus estimate of $209.52 million. During the same quarter last year, the company earned ($0.06) EPS. The company’s quarterly revenue was up 29.7% on a year-over-year basis. equities analysts expect that Callaway Golf Company will post 0.51 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 22nd will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.28%. Callaway Golf’s dividend payout ratio is currently 2.09%.

ELY has been the subject of several recent analyst reports. KeyCorp set a $16.00 target price on Callaway Golf and gave the company a “buy” rating in a research note on Saturday, October 21st. Jefferies Group restated a “buy” rating and set a $18.00 target price on shares of Callaway Golf in a research note on Thursday, September 7th. FBR & Co set a $16.00 target price on Callaway Golf and gave the company a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research upgraded Callaway Golf from a “hold” rating to a “strong-buy” rating and set a $17.00 target price for the company in a research note on Friday, October 27th. Finally, Aegis started coverage on Callaway Golf in a research note on Friday, August 25th. They set a “buy” rating and a $16.00 target price for the company. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Callaway Golf presently has a consensus rating of “Buy” and a consensus price target of $15.67.

In related news, insider Jennifer L. Thomas sold 8,503 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $14.95, for a total transaction of $127,119.85. Following the completion of the transaction, the insider now owns 28,143 shares in the company, valued at approximately $420,737.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Brian P. Lynch sold 6,277 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $15.42, for a total value of $96,791.34. Following the transaction, the senior vice president now owns 46,184 shares of the company’s stock, valued at approximately $712,157.28. The disclosure for this sale can be found here. Insiders have sold a total of 29,850 shares of company stock valued at $437,772 in the last 90 days. 2.59% of the stock is owned by corporate insiders.

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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.

Institutional Ownership by Quarter for Callaway Golf (NYSE:ELY)

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