Bank of New York Mellon Corp lessened its stake in Callaway Golf Company (NYSE:ELY) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,345,042 shares of the company’s stock after selling 15,289 shares during the quarter. Bank of New York Mellon Corp owned 1.43% of Callaway Golf worth $19,410,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ELY. Daruma Capital Management LLC acquired a new position in Callaway Golf in the 2nd quarter worth about $48,831,000. Cramer Rosenthal Mcglynn LLC acquired a new position in Callaway Golf in the 2nd quarter worth about $10,707,000. Dimensional Fund Advisors LP raised its holdings in Callaway Golf by 10.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,392,982 shares of the company’s stock worth $81,702,000 after purchasing an additional 603,742 shares during the period. Systematic Financial Management LP acquired a new position in Callaway Golf in the 2nd quarter worth about $3,049,000. Finally, New York State Common Retirement Fund raised its holdings in Callaway Golf by 165.2% in the 2nd quarter. New York State Common Retirement Fund now owns 333,367 shares of the company’s stock worth $4,260,000 after purchasing an additional 207,658 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Shares of Callaway Golf Company (ELY) opened at $14.79 on Friday. Callaway Golf Company has a 52 week low of $9.93 and a 52 week high of $15.63. The company has a market capitalization of $1,398.19, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 1.92 and a beta of 1.12.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The company had revenue of $243.60 million during the quarter, compared to analyst estimates of $209.52 million. During the same period in the previous year, the business earned ($0.06) EPS. Callaway Golf’s quarterly revenue was up 29.7% on a year-over-year basis. analysts expect that Callaway Golf Company will post 0.51 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 22nd were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $0.04 annualized dividend and a yield of 0.27%. Callaway Golf’s dividend payout ratio (DPR) is currently 2.09%.

ELY has been the subject of a number of analyst reports. Imperial Capital reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Callaway Golf in a report on Thursday, August 24th. Aegis initiated coverage on Callaway Golf in a report on Friday, August 25th. They issued a “buy” rating and a $16.00 price target for the company. BidaskClub raised Callaway Golf from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. KeyCorp reaffirmed an “overweight” rating and issued a $16.00 price target on shares of Callaway Golf in a report on Wednesday, August 30th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $18.00 price target on shares of Callaway Golf in a report on Thursday, September 7th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $15.84.

In other Callaway Golf news, insider Jennifer L. Thomas sold 8,503 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $14.95, for a total transaction of $127,119.85. Following the completion of the sale, the insider now directly owns 28,143 shares in the company, valued at approximately $420,737.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Richard H. Arnett sold 8,070 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $14.01, for a total value of $113,060.70. Following the sale, the senior vice president now owns 5,000 shares of the company’s stock, valued at $70,050. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,850 shares of company stock valued at $437,772. 2.59% of the stock is owned by company insiders.

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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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Institutional Ownership by Quarter for Callaway Golf (NYSE:ELY)

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