United Services Automobile Association lifted its stake in Callaway Golf Co (NYSE:ELY) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,128 shares of the company’s stock after acquiring an additional 1,975 shares during the quarter. United Services Automobile Association’s holdings in Callaway Golf were worth $430,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Callaway Golf by 0.6% in the fourth quarter. BlackRock Inc. now owns 13,292,414 shares of the company’s stock worth $203,375,000 after acquiring an additional 80,255 shares during the period. Vanguard Group Inc grew its position in Callaway Golf by 35.7% during the third quarter. Vanguard Group Inc now owns 7,338,764 shares of the company’s stock valued at $178,259,000 after buying an additional 1,929,680 shares during the period. Vanguard Group Inc. grew its position in Callaway Golf by 35.7% during the third quarter. Vanguard Group Inc. now owns 7,338,764 shares of the company’s stock valued at $178,259,000 after buying an additional 1,929,680 shares during the period. Bank of New York Mellon Corp grew its position in Callaway Golf by 0.3% during the third 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 during the period. Finally, Renaissance Technologies LLC grew its position in Callaway Golf by 56.0% during the third quarter. Renaissance Technologies LLC now owns 1,579,185 shares of the company’s stock valued at $38,358,000 after buying an additional 566,785 shares during the period. Hedge funds and other institutional investors own 91.51% of the company’s stock.
In other news, Director Russell L. Fleischer purchased 5,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The stock was acquired at an average cost of $15.50 per share, for a total transaction of $77,500.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $77,500. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.97% of the company’s stock.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Wednesday, February 6th. The company reported ($0.32) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.32). The business had revenue of $181.00 million during the quarter, compared to analyst estimates of $176.35 million. Callaway Golf had a net margin of 8.43% and a return on equity of 14.01%. The company’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) earnings per share. Equities analysts anticipate that Callaway Golf Co will post 1 earnings per share for the current year.
Several analysts recently issued reports on the stock. Berenberg Bank restated a “buy” rating and set a $24.00 target price on shares of Callaway Golf in a research report on Thursday, February 28th. Zacks Investment Research upgraded shares of Callaway Golf from a “sell” rating to a “hold” rating in a research report on Tuesday. Stephens assumed coverage on shares of Callaway Golf in a research report on Tuesday, January 8th. They set an “equal weight” rating and a $17.00 target price for the company. ValuEngine upgraded shares of Callaway Golf from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Imperial Capital cut their target price on shares of Callaway Golf from $25.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, February 7th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $22.58.
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About Callaway Golf
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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