Capital Fund Management S.A. reduced its stake in Callaway Golf Co (NYSE:ELY) by 20.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,750 shares of the company’s stock after selling 13,298 shares during the period. Capital Fund Management S.A. owned 0.05% of Callaway Golf worth $562,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. Geduld E E boosted its stake in Callaway Golf by 66.7% in the third quarter. Geduld E E now owns 25,000 shares of the company’s stock valued at $290,000 after buying an additional 10,000 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Callaway Golf by 3.4% in the third quarter. UBS Asset Management Americas Inc. now owns 48,097 shares of the company’s stock valued at $558,000 after buying an additional 1,600 shares in the last quarter. BlackRock Investment Management LLC boosted its stake in Callaway Golf by 0.8% in the third quarter. BlackRock Investment Management LLC now owns 417,183 shares of the company’s stock valued at $4,843,000 after buying an additional 3,186 shares in the last quarter. BlackRock Inc. boosted its stake in Callaway Golf by 5.8% in the third quarter. BlackRock Inc. now owns 22,034 shares of the company’s stock valued at $256,000 after buying an additional 1,203 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Callaway Golf by 37.3% in the third quarter. New York State Common Retirement Fund now owns 132,623 shares of the company’s stock valued at $1,540,000 after buying an additional 36,023 shares in the last quarter. 85.85% of the stock is owned by hedge funds and other institutional investors.
Shares of Callaway Golf Co (NYSE:ELY) traded up 0.40% during mid-day trading on Friday, reaching $12.64. 416,250 shares of the company traded hands. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 6.83 and a beta of 1.33. Callaway Golf Co has a 52 week low of $9.10 and a 52 week high of $13.35. The firm has a 50-day moving average price of $11.97 and a 200 day moving average price of $11.39.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.08. Callaway Golf had a net margin of 21.80% and a return on equity of 9.93%. The company had revenue of $309 million for the quarter, compared to the consensus estimate of $283.68 million. During the same quarter in the prior year, the company earned $0.26 EPS. Callaway Golf’s quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts anticipate that Callaway Golf Co will post $0.36 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Tuesday, May 23rd will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, May 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. Callaway Golf’s payout ratio is 2.02%.
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A number of research analysts recently issued reports on ELY shares. DA Davidson reissued a “buy” rating and set a $14.00 price target on shares of Callaway Golf in a research report on Tuesday, January 31st. FBR & Co reissued a “buy” rating and set a $14.00 price target on shares of Callaway Golf in a research report on Friday, February 3rd. Zacks Investment Research raised shares of Callaway Golf from a “sell” rating to a “hold” rating in a research report on Monday, March 13th. Jefferies Group LLC reissued a “buy” rating and set a $14.00 price target on shares of Callaway Golf in a research report on Wednesday, March 22nd. Finally, Wunderlich reissued a “buy” rating and set a $13.00 price target (down from $15.00) on shares of Callaway Golf in a research report on Monday, February 6th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Callaway Golf currently has an average rating of “Buy” and a consensus price target of $13.71.
In other news, insider Neil Howie sold 37,069 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $13.10, for a total transaction of $485,603.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony S. Thornley sold 10,698 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $12.75, for a total transaction of $136,399.50. Following the sale, the director now directly owns 49,790 shares in the company, valued at approximately $634,822.50. The disclosure for this sale can be found here. Insiders have sold a total of 459,480 shares of company stock worth $5,340,813 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.
Callaway Golf Company 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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