Thomson Horstmann & Bryant Inc. grew its holdings in shares of Callaway Golf Co (NYSE:ELY) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 826,524 shares of the company’s stock after buying an additional 77,462 shares during the quarter. Callaway Golf accounts for about 1.5% of Thomson Horstmann & Bryant Inc.’s investment portfolio, making the stock its 12th biggest position. Thomson Horstmann & Bryant Inc.’s holdings in Callaway Golf were worth $11,513,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in ELY. Schwab Charles Investment Management Inc. grew its stake in shares of Callaway Golf by 8.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 442,368 shares of the company’s stock valued at $5,654,000 after buying an additional 34,521 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Callaway Golf by 1.4% in the second quarter. Rhumbline Advisers now owns 193,899 shares of the company’s stock valued at $2,478,000 after purchasing an additional 2,626 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Callaway Golf in the second quarter valued at approximately $284,000. Legal & General Group Plc boosted its holdings in shares of Callaway Golf by 8.4% in the second quarter. Legal & General Group Plc now owns 179,020 shares of the company’s stock valued at $2,286,000 after purchasing an additional 13,809 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Callaway Golf by 56.3% in the second quarter. BNP Paribas Arbitrage SA now owns 34,661 shares of the company’s stock valued at $443,000 after purchasing an additional 12,483 shares during the period. 88.11% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Alex Mitchell Boezeman sold 16,738 shares of the stock in a transaction 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 completion of the sale, the insider now owns 120,873 shares in the company, valued at approximately $1,850,565.63. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Brian P. Lynch sold 6,277 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $15.42, for a total value of $96,791.34. Following the sale, the senior vice president now owns 46,184 shares of the company’s stock, valued at approximately $712,157.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,588 shares of company stock valued at $694,031. 2.59% of the stock is owned by company insiders.
Callaway Golf (NYSE:ELY) last posted its earnings results on Wednesday, October 25th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The company had revenue of $243.60 million during the quarter, compared to analyst estimates of $209.52 million. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. Callaway Golf’s revenue was up 29.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. equities research analysts predict that Callaway Golf Co will post 0.51 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 22nd were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $0.04 dividend on an annualized basis and a yield of 0.29%. Callaway Golf’s dividend payout ratio is currently 2.09%.
A number of analysts recently issued reports on ELY shares. Compass Point lowered Callaway Golf from a “neutral” rating to a “sell” rating and lowered their price target for the company from $15.06 to $13.50 in a report on Wednesday, December 27th. KeyCorp set a $16.00 price target on Callaway Golf and gave the company a “buy” rating in a report on Saturday, October 21st. Raymond James Financial reiterated a “hold” rating on shares of Callaway Golf in a report on Wednesday, December 27th. DA Davidson set a $18.00 price target on Callaway Golf and gave the company a “buy” rating in a report on Wednesday, December 27th. Finally, Jefferies Group reiterated a “buy” rating and issued a $18.00 price target on shares of Callaway Golf in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $15.82.
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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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