Scopus Asset Management L.P. acquired a new position in Callaway Golf Company (NYSE:ELY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,650,000 shares of the company’s stock, valued at approximately $30,767,000. Scopus Asset Management L.P. owned 2.82% of Callaway Golf Company as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of ELY. Metropolitan Life Insurance Co. NY boosted its stake in shares of Callaway Golf Company by 22.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 69,164 shares of the company’s stock worth $706,000 after buying an additional 12,595 shares during the last quarter. Millrace Asset Group Inc. bought a new stake in Callaway Golf Company during the second quarter worth about $1,601,000. Broadview Advisors LLC boosted its stake in Callaway Golf Company by 0.3% in the second quarter. Broadview Advisors LLC now owns 834,773 shares of the company’s stock worth $8,523,000 after buying an additional 2,250 shares in the last quarter. Adirondack Research & Management Inc. boosted its stake in Callaway Golf Company by 6.2% in the second quarter. Adirondack Research & Management Inc. now owns 503,372 shares of the company’s stock worth $5,139,000 after buying an additional 29,191 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Callaway Golf Company by 5.0% in the second quarter. Principal Financial Group Inc. now owns 685,924 shares of the company’s stock worth $7,003,000 after buying an additional 32,690 shares in the last quarter. 86.24% of the stock is currently owned by institutional investors and hedge funds.
Callaway Golf Company (NYSE:ELY) opened at 10.59 on Friday. Callaway Golf Company has a one year low of $8.24 and a one year high of $12.56. The firm has a 50-day moving average price of $11.14 and a 200-day moving average price of $11.32. The stock has a market cap of $996.66 million, a price-to-earnings ratio of 5.35 and a beta of 1.33.
Callaway Golf Company (NYSE:ELY) last released its quarterly earnings results on Thursday, February 2nd. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 had revenue of $164 million for the quarter, compared to analysts’ expectations of $170.87 million. During the same quarter last year, the company earned ($0.29) EPS. Callaway Golf Company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Callaway Golf Company will post $0.27 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 20th. Stockholders of record on Monday, February 27th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Thursday, February 23rd. Callaway Golf Company’s dividend payout ratio (DPR) is presently 2.02%.
A number of equities research analysts recently issued reports on the stock. TheStreet cut shares of Callaway Golf Company from a “buy” rating to a “hold” rating in a research note on Thursday, November 3rd. Zacks Investment Research cut shares of Callaway Golf Company from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Imperial Capital reissued an “outperform” rating and issued a $14.00 price target on shares of Callaway Golf Company in a research note on Wednesday, November 30th. FBR & Co reissued an “outperform” rating and issued a $12.00 price target on shares of Callaway Golf Company in a research note on Friday, November 4th. Finally, DA Davidson reissued a “buy” rating and issued a $14.00 price target on shares of Callaway Golf Company in a research note on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently 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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