Callaway Golf Company (NYSE:ELY) insider Jennifer L. Thomas sold 19,349 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $13.90, for a total transaction of $268,951.10. Following the completion of the transaction, the insider now directly owns 30,189 shares in the company, valued at approximately $419,627.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Callaway Golf Company (NYSE ELY) traded down 0.07% during midday trading on Friday, reaching $14.02. 968,054 shares of the company’s stock traded hands. The stock’s 50 day moving average is $13.30 and its 200-day moving average is $12.35. Callaway Golf Company has a 52 week low of $9.77 and a 52 week high of $14.13. The company has a market capitalization of $1.32 billion, a PE ratio of 7.75 and a beta of 1.18.
Callaway Golf (NYSE:ELY) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Callaway Golf had a return on equity of 6.60% and a net margin of 18.09%. The business had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $295.70 million. During the same quarter last year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. On average, analysts forecast that Callaway Golf Company will post $0.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 22nd were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Friday, August 18th. Callaway Golf’s dividend payout ratio is currently 2.20%.
Several hedge funds have recently made changes to their positions in the company. Verition Fund Management LLC purchased a new position in shares of Callaway Golf in the second quarter valued at $204,000. Piedmont Investment Advisors LLC purchased a new position in shares of Callaway Golf in the second quarter valued at $259,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Callaway Golf in the second quarter valued at $109,000. Cubist Systematic Strategies LLC purchased a new position in shares of Callaway Golf in the second quarter valued at $432,000. Finally, Daruma Capital Management LLC purchased a new position in shares of Callaway Golf in the second quarter valued at $48,831,000. Institutional investors and hedge funds own 87.63% of the company’s stock.
Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Callaway Golf from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 25th. KeyCorp reiterated an “overweight” rating and set a $16.00 target price on shares of Callaway Golf in a report on Wednesday, August 30th. Compass Point cut shares of Callaway Golf from a “buy” rating to a “neutral” rating and raised their price target for the company from $13.60 to $13.75 in a report on Monday, August 7th. Imperial Capital increased their price objective on shares of Callaway Golf from $13.00 to $14.50 and gave the company an “outperform” rating in a research report on Tuesday, May 23rd. Finally, Jefferies Group LLC set a $18.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a research report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.98.
Callaway Golf Company Profile
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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