Rice Hall James & Associates LLC increased its position in shares of Callaway Golf Co (NYSE:ELY) by 29.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 876,567 shares of the company’s stock after buying an additional 197,927 shares during the quarter. Rice Hall James & Associates LLC owned 0.93% of Callaway Golf worth $15,042,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund lifted its stake in Callaway Golf by 1.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 35,004 shares of the company’s stock worth $601,000 after purchasing an additional 600 shares during the period. Boston Advisors LLC lifted its stake in Callaway Golf by 0.6% during the first quarter. Boston Advisors LLC now owns 97,326 shares of the company’s stock worth $1,550,000 after purchasing an additional 621 shares during the period. Massey Quick Simon & CO. LLC lifted its stake in Callaway Golf by 30.0% during the first quarter. Massey Quick Simon & CO. LLC now owns 3,097 shares of the company’s stock worth $49,000 after purchasing an additional 714 shares during the period. Mason Street Advisors LLC lifted its stake in Callaway Golf by 3.4% during the first quarter. Mason Street Advisors LLC now owns 28,529 shares of the company’s stock worth $454,000 after purchasing an additional 942 shares during the period. Finally, US Bancorp DE lifted its stake in Callaway Golf by 0.8% during the first quarter. US Bancorp DE now owns 145,775 shares of the company’s stock worth $2,321,000 after purchasing an additional 1,114 shares during the period. 88.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:ELY traded down $0.41 during trading on Wednesday, reaching $17.62. The stock had a trading volume of 360,225 shares, compared to its average volume of 1,276,409. Callaway Golf Co has a 52 week low of $14.44 and a 52 week high of $24.67. The firm has a 50-day simple moving average of $17.97. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 0.85. The company has a market cap of $1.74 billion, a PE ratio of 16.47, a PEG ratio of 0.71 and a beta of 1.24.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 13th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Monday, August 12th. Callaway Golf’s dividend payout ratio (DPR) is currently 3.74%.
In related news, Director Russell L. Fleischer acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $14.75 per share, for a total transaction of $73,750.00. Following the transaction, the director now directly owns 15,859 shares of the company’s stock, valued at approximately $233,920.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard H. Arnett sold 13,137 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $20.00, for a total transaction of $262,740.00. Following the completion of the transaction, the executive vice president now owns 31,276 shares of the company’s stock, valued at approximately $625,520. The disclosure for this sale can be found here. Insiders bought 21,575 shares of company stock valued at $324,630 in the last quarter. 1.97% of the stock is currently owned by corporate insiders.
ELY has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Friday, July 12th. Stephens upgraded shares of Callaway Golf from an “equal” rating to a “weight” rating and raised their price target for the stock from $18.00 to $21.50 in a research note on Friday, August 9th. Roth Capital set a $19.00 price target on shares of Callaway Golf and gave the stock a “hold” rating in a research note on Thursday, June 13th. ValuEngine cut shares of Callaway Golf from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Berenberg Bank restated a “buy” rating and set a $24.00 price target on shares of Callaway Golf in a research note on Sunday, May 12th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $23.28.
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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