Oppenheimer & Co. Inc. held its stake in Callaway Golf Company (NYSE:ELY) during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 66,000 shares of the company’s stock at the end of the first quarter. Oppenheimer & Co. Inc.’s holdings in Callaway Golf Company were worth $730,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in ELY. BlackRock Inc. increased its stake in Callaway Golf Company by 56,247.6% in the first quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock valued at $129,526,000 after buying an additional 11,679,804 shares during the period. Norges Bank acquired a new stake in Callaway Golf Company during the fourth quarter valued at $12,313,000. FMR LLC increased its stake in Callaway Golf Company by 20.9% in the fourth quarter. FMR LLC now owns 4,305,000 shares of the company’s stock valued at $47,183,000 after buying an additional 742,800 shares during the period. Kennedy Capital Management Inc. increased its stake in Callaway Golf Company by 161.1% in the first quarter. Kennedy Capital Management Inc. now owns 973,299 shares of the company’s stock valued at $10,774,000 after buying an additional 600,557 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Callaway Golf Company during the fourth quarter valued at $4,563,000. Institutional investors and hedge funds own 87.56% of the company’s stock.
Callaway Golf Company (ELY) opened at 12.36 on Wednesday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 6.68 and a beta of 1.21. Callaway Golf Company has a 52 week low of $9.50 and a 52 week high of $13.35. The stock’s 50 day moving average price is $12.64 and its 200 day moving average price is $11.54.
Callaway Golf Company (NYSE:ELY) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.08. Callaway Golf Company had a return on equity of 7.33% and a net margin of 19.56%. The business had revenue of $309 million for the quarter, compared to analyst estimates of $283.68 million. During the same quarter in the prior year, the company posted $0.26 EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts forecast that Callaway Golf Company will post $0.36 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Tuesday, May 23rd were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.32%. The ex-dividend date was Friday, May 19th. Callaway Golf Company’s payout ratio is 2.16%.
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ELY has been the subject of several research analyst reports. Morgan Stanley downgraded Callaway Golf Company from an “overweight” rating to an “equal weight” rating in a research report on Monday, April 17th. Zacks Investment Research downgraded Callaway Golf Company from a “hold” rating to a “sell” rating in a research report on Monday, March 27th. KeyCorp reiterated a “positive” rating and set a $16.00 target price on shares of Callaway Golf Company in a research report on Tuesday, March 21st. Imperial Capital reiterated an “outperform” rating and set a $13.00 target price on shares of Callaway Golf Company in a research report on Tuesday, March 21st. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $14.00 target price on shares of Callaway Golf Company in a research report on Wednesday, March 22nd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $14.38.
In related news, SVP Alan Hocknell sold 29,931 shares of the stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $13.30, for a total transaction of $398,082.30. Following the transaction, the senior vice president now owns 87,838 shares of the company’s stock, valued at approximately $1,168,245.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alex Mitchell Boezeman sold 54,810 shares of the stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $11.75, for a total value of $644,017.50. Following the transaction, the director now directly owns 158,950 shares in the company, valued at approximately $1,867,662.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 389,291 shares of company stock worth $4,533,629. 2.59% of the stock is owned by corporate insiders.
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 its trademarks and service marks and sales of pre-owned golf clubs.
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