American Century Companies Inc. Cuts Holdings in Callaway Golf Company (ELY)
American Century Companies Inc. lowered its holdings in shares of Callaway Golf Company (NYSE:ELY) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,943 shares of the company’s stock after selling 1,022 shares during the period. American Century Companies Inc.’s holdings in Callaway Golf were worth $587,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Koch Industries Inc. acquired a new position in Callaway Golf during the first quarter worth about $162,000. Suntrust Banks Inc. grew its holdings in shares of Callaway Golf by 2.5% during the first quarter. Suntrust Banks Inc. now owns 18,036 shares of the company’s stock worth $199,000 after buying an additional 441 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Callaway Golf by 77.9% during the second quarter. State of Alaska Department of Revenue now owns 18,572 shares of the company’s stock worth $237,000 after buying an additional 8,132 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Callaway Golf during the first quarter worth about $243,000. Finally, Mason Street Advisors LLC grew its holdings in shares of Callaway Golf by 7.5% during the first quarter. Mason Street Advisors LLC now owns 22,117 shares of the company’s stock worth $245,000 after buying an additional 1,551 shares in the last quarter. Institutional investors own 87.46% of the company’s stock.
Shares of Callaway Golf Company (NYSE ELY) opened at 14.02 on Tuesday. The stock has a market capitalization of $1.32 billion, a P/E ratio of 7.75 and a beta of 1.18. Callaway Golf Company has a 12-month low of $9.77 and a 12-month high of $14.13. The company has a 50-day moving average of $13.34 and a 200-day moving average of $12.41.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $304.50 million during the quarter, compared to analyst estimates of $295.70 million. Callaway Golf had a net margin of 18.09% and a return on equity of 6.60%. The firm’s revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. Equities analysts expect that Callaway Golf Company will post $0.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 22nd were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Friday, August 18th. Callaway Golf’s dividend payout ratio (DPR) is 2.20%.
In other news, VP Mark F. Leposky sold 31,691 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $14.00, for a total value of $443,674.00. Following the completion of the sale, the vice president now directly owns 68,343 shares of the company’s stock, valued at $956,802. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Oliver G. Brewer III sold 131,884 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $13.31, for a total transaction of $1,755,376.04. Following the completion of the sale, the insider now directly owns 291,399 shares of the company’s stock, valued at $3,878,520.69. The disclosure for this sale can be found here. Insiders sold 281,113 shares of company stock valued at $3,792,388 over the last three months. 2.59% of the stock is owned by insiders.
A number of equities research analysts have recently commented on ELY shares. Imperial Capital lifted their price target on shares of Callaway Golf from $13.00 to $14.50 and gave the stock an “outperform” rating in a report on Tuesday, May 23rd. Jefferies Group LLC set a $17.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a report on Tuesday, June 6th. Cowen and Company started coverage on shares of Callaway Golf in a report on Wednesday, June 14th. They set a “market perform” rating and a $14.00 price target for the company. FBR & Co lifted their price target on shares of Callaway Golf from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, June 21st. Finally, BidaskClub upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $15.15.
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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