Cipher Capital LP raised its stake in shares of Callaway Golf Company (NYSE:ELY) by 19.0% during the fourth quarter, Holdings Channel reports. The firm owned 157,866 shares of the company’s stock after buying an additional 25,152 shares during the period. Cipher Capital LP’s holdings in Callaway Golf Company were worth $1,730,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Silver Capital Management LLC purchased a new position in Callaway Golf Company during the second quarter valued at $102,000. Amalgamated Bank purchased a new position in Callaway Golf Company during the second quarter valued at $129,000. Airain ltd purchased a new position in Callaway Golf Company during the second quarter valued at $119,000. Teacher Retirement System of Texas boosted its position in Callaway Golf Company by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 12,560 shares of the company’s stock valued at $128,000 after buying an additional 1,523 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Callaway Golf Company by 5.5% in the second quarter. Legal & General Group Plc now owns 13,698 shares of the company’s stock valued at $138,000 after buying an additional 711 shares in the last quarter. 85.85% of the stock is currently owned by institutional investors.
Callaway Golf Company (NYSE:ELY) opened at 10.32 on Friday. The stock has a 50 day moving average price of $11.07 and a 200-day moving average price of $11.32. Callaway Golf Company has a one year low of $8.26 and a one year high of $12.56. The stock has a market cap of $971.25 million, a PE ratio of 5.21 and a beta of 1.33.
Callaway Golf Company (NYSE:ELY) last issued its earnings results on Thursday, February 2nd. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.01. Callaway Golf Company had a return on equity of 9.93% and a net margin of 21.80%. The company earned $164 million during the quarter, compared to analysts’ expectations of $170.87 million. During the same quarter in the previous year, the company earned ($0.29) EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts expect that Callaway Golf Company will post $0.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 20th. Stockholders of record on Monday, February 27th will be paid a $0.01 dividend. The ex-dividend date is Thursday, February 23rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.39%. Callaway Golf Company’s payout ratio is 2.02%.
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ELY has been the subject of several research analyst reports. Compass Point cut Callaway Golf Company from a “buy” rating to a “neutral” rating in a report on Monday, November 14th. They noted that the move was a valuation call. Zacks Investment Research cut Callaway Golf Company from a “hold” rating to a “sell” rating in a report on Tuesday, February 7th. Wunderlich restated a “buy” rating and set a $13.00 price target (down previously from $15.00) on shares of Callaway Golf Company in a report on Monday, February 6th. Jefferies Group LLC set a $16.00 price target on Callaway Golf Company and gave the company a “buy” rating in a report on Monday, December 12th. Finally, FBR & Co restated a “buy” rating and set a $14.00 price target on shares of Callaway Golf Company in a report on Friday, February 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Callaway Golf Company presently has a consensus rating of “Buy” and a consensus target price of $13.58.
About Callaway Golf Company
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 the Company’s trademarks and service marks and sales of pre-owned golf clubs.
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