Richard H. Arnett Sells 8,070 Shares of Callaway Golf Company (ELY) Stock
Callaway Golf Company (NYSE:ELY) SVP Richard H. Arnett sold 8,070 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 5,000 shares in the company, valued at approximately $70,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Callaway Golf Company (NYSE ELY) opened at $13.86 on Wednesday. Callaway Golf Company has a 12 month low of $9.93 and a 12 month high of $15.63. The company has a market capitalization of $1,309.33, a PE ratio of 27.16, a PEG ratio of 1.81 and a beta of 1.10.
Callaway Golf (NYSE:ELY) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $243.60 million for the quarter, compared to analyst estimates of $209.52 million. During the same period last year, the firm posted ($0.06) earnings per share. The business’s revenue for the quarter was up 29.7% on a year-over-year basis. equities research analysts anticipate that Callaway Golf Company will post 0.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 22nd will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Tuesday, November 21st. Callaway Golf’s payout ratio is 2.09%.
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A number of research analysts recently commented on the company. restated a “buy” rating on shares of Callaway Golf in a research report on Monday, September 4th. restated an “outperform” rating and issued a $16.00 price target (up previously from $14.50) on shares of Callaway Golf in a research report on Wednesday, August 9th. restated a “buy” rating on shares of Callaway Golf in a research report on Wednesday, November 1st. cut Callaway Golf to a “hold” rating and set a $14.00 price target on the stock. in a research report on Saturday, August 5th. Finally, cut Callaway Golf from a “buy” rating to a “neutral” rating and raised their price target for the stock from $13.60 to $13.75 in a research report on Monday, August 7th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $15.67.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Callaway Golf by 56,247.6% during the first quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock valued at $129,526,000 after purchasing an additional 11,679,804 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Callaway Golf by 3.8% during the third quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock valued at $95,720,000 after purchasing an additional 240,520 shares in the last quarter. Daruma Capital Management LLC acquired a new stake in shares of Callaway Golf during the second quarter valued at about $48,831,000. State Street Corp boosted its stake in shares of Callaway Golf by 2.8% during the second quarter. State Street Corp now owns 2,215,678 shares of the company’s stock valued at $28,317,000 after purchasing an additional 59,853 shares in the last quarter. Finally, Bernzott Capital Advisors lifted its stake in shares of Callaway Golf by 5.9% in the second quarter. Bernzott Capital Advisors now owns 1,655,112 shares of the company’s stock worth $21,152,000 after acquiring an additional 91,975 shares during the period. 88.69% of the stock is currently owned by hedge funds and other institutional investors.
About Callaway Golf
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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