Dimensional Fund Advisors LP cut its holdings in Callaway Golf Co (NYSE:ELY) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,940,420 shares of the company’s stock after selling 174,986 shares during the period. Dimensional Fund Advisors LP owned about 0.07% of Callaway Golf worth $106,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ELY. Bank of New York Mellon Corp boosted its stake in Callaway Golf by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,611,484 shares of the company’s stock valued at $39,143,000 after buying an additional 4,130 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Callaway Golf by 2.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 164,108 shares of the company’s stock valued at $3,986,000 after buying an additional 4,345 shares in the last quarter. AQR Capital Management LLC boosted its stake in Callaway Golf by 152.4% in the 3rd quarter. AQR Capital Management LLC now owns 72,161 shares of the company’s stock valued at $1,753,000 after buying an additional 43,574 shares in the last quarter. Teachers Advisors LLC boosted its stake in Callaway Golf by 3.0% in the 3rd quarter. Teachers Advisors LLC now owns 1,081,862 shares of the company’s stock valued at $26,278,000 after buying an additional 31,155 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Callaway Golf by 58.0% in the 3rd quarter. Morgan Stanley now owns 1,296,455 shares of the company’s stock valued at $31,491,000 after buying an additional 475,786 shares in the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

Shares of ELY opened at $15.66 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.59 and a debt-to-equity ratio of 0.76. Callaway Golf Co has a 52-week low of $14.44 and a 52-week high of $24.67. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.63 and a beta of 1.06.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.14. Callaway Golf had a return on equity of 13.42% and a net margin of 6.68%. The firm had revenue of $516.20 million during the quarter, compared to the consensus estimate of $504.07 million. During the same quarter in the previous year, the company posted $0.65 EPS. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. On average, equities research analysts forecast that Callaway Golf Co will post 1.01 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st will be given a $0.01 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.04 annualized dividend and a yield of 0.26%. Callaway Golf’s payout ratio is 3.74%.

Several brokerages recently commented on ELY. Berenberg Bank reaffirmed a “buy” rating and issued a $24.00 price target on shares of Callaway Golf in a research note on Sunday. Zacks Investment Research raised Callaway Golf from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, Imperial Capital decreased their price target on Callaway Golf from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, February 7th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Callaway Golf has an average rating of “Buy” and an average target price of $22.91.

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Callaway Golf Company Profile

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.

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Want to see what other hedge funds are holding ELY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Callaway Golf Co (NYSE:ELY).

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

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