Callaway Golf Company (NYSE:ELY) SVP Richard H. Arnett sold 8,070 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $14.01, for a total value of $113,060.70. Following the completion of the sale, the senior vice president now owns 5,000 shares of the company’s stock, valued at $70,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Callaway Golf Company (NYSE:ELY) traded down $0.03 during midday trading on Thursday, hitting $13.83. The company’s stock had a trading volume of 520,500 shares, compared to its average volume of 1,005,240. The company has a market capitalization of $1,310.27, a PE ratio of 27.18, a P/E/G ratio of 1.81 and a beta of 1.10. Callaway Golf Company has a 52 week low of $9.93 and a 52 week high of $15.63.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The company had revenue of $243.60 million for the quarter, compared to analysts’ expectations of $209.52 million. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The firm’s revenue was up 29.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) earnings per share. analysts anticipate that Callaway Golf Company will post 0.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.29%. The ex-dividend date is Tuesday, November 21st. Callaway Golf’s dividend payout ratio (DPR) is currently 2.09%.
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Large investors have recently made changes to their positions in the business. Riverhead Capital Management LLC raised its stake in Callaway Golf by 69.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock valued at $106,000 after purchasing an additional 3,426 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in Callaway Golf during the 2nd quarter valued at $109,000. Flinton Capital Management LLC raised its stake in Callaway Golf by 71.6% during the 2nd quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock valued at $145,000 after purchasing an additional 4,726 shares during the period. Amalgamated Bank raised 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. Finally, Allianz Asset Management GmbH acquired a new stake in Callaway Golf during the 3rd quarter valued at $182,000. 88.69% of the stock is currently owned by institutional investors.
A number of equities research analysts have weighed in on the company. B. Riley restated a “buy” rating on shares of Callaway Golf in a research report on Wednesday, November 1st. Forward View restated a “hold” rating on shares of Callaway Golf in a research report on Saturday, October 28th. 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 report on Friday, October 27th. Jefferies Group LLC set a $19.00 target price on Callaway Golf and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, SunTrust Banks, Inc. upped their target price on Callaway Golf from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $15.67.
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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