Dupont Capital Management Corp reduced its position in Callaway Golf Co (NYSE:ELY) by 54.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,363 shares of the company’s stock after selling 27,028 shares during the quarter. Dupont Capital Management Corp’s holdings in Callaway Golf were worth $312,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in ELY. Amalgamated Bank boosted its position in shares of Callaway Golf by 1.3% in the second quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock valued at $164,000 after acquiring an additional 160 shares during the period. New York State Common Retirement Fund boosted its position in shares of Callaway Golf by 165.2% in the second quarter. New York State Common Retirement Fund now owns 333,367 shares of the company’s stock valued at $4,260,000 after acquiring an additional 207,658 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Callaway Golf by 10.7% in the second quarter. UBS Asset Management Americas Inc. now owns 35,892 shares of the company’s stock valued at $459,000 after acquiring an additional 3,471 shares during the period. Suntrust Banks Inc. boosted its position in shares of Callaway Golf by 2.0% in the second quarter. Suntrust Banks Inc. now owns 18,397 shares of the company’s stock valued at $235,000 after acquiring an additional 361 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Callaway Golf by 12.4% in the second quarter. Parametric Portfolio Associates LLC now owns 245,594 shares of the company’s stock valued at $3,139,000 after acquiring an additional 27,062 shares during the period. Institutional investors own 89.58% of the company’s stock.
ELY has been the subject of a number of analyst reports. KeyCorp set a $16.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a research report on Saturday, October 21st. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Friday, January 5th. FBR & Co set a $16.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a research report on Thursday, October 26th. JPMorgan Chase & Co. initiated coverage on shares of Callaway Golf in a research report on Thursday, December 14th. They set an “overweight” rating and a $18.00 target price for the company. Finally, Imperial Capital reiterated an “outperform” rating on shares of Callaway Golf in a research report on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Callaway Golf has a consensus rating of “Buy” and a consensus target price of $16.40.
In other Callaway Golf news, SVP Brian P. Lynch sold 25,911 shares of Callaway Golf stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $14.84, for a total transaction of $384,519.24. Following the transaction, the senior vice president now directly owns 31,599 shares of the company’s stock, valued at $468,929.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alex Mitchell Boezeman sold 16,738 shares of Callaway Golf stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $15.31, for a total transaction of $256,258.78. Following the transaction, the insider now directly owns 120,873 shares in the company, valued at $1,850,565.63. The disclosure for this sale can be found here. Insiders have sold 67,487 shares of company stock worth $1,031,977 over the last three months. Insiders own 2.59% of the company’s stock.
Shares of Callaway Golf Co (ELY) opened at $14.80 on Friday. Callaway Golf Co has a 1 year low of $9.99 and a 1 year high of $15.95. The stock has a market cap of $1,399.13, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 1.46 and a beta of 1.15.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Wednesday, February 7th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.02. The firm had revenue of $192.00 million for the quarter, compared to the consensus estimate of $184.74 million. Callaway Golf had a net margin of 3.89% and a return on equity of 7.85%. The business’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) earnings per share. equities analysts expect that Callaway Golf Co will post 0.69 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 7th. Shareholders of record on Wednesday, February 14th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Tuesday, February 13th. Callaway Golf’s dividend payout ratio (DPR) is presently 9.30%.
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Callaway Golf 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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