US Bancorp DE Purchases 13,947 Shares of Callaway Golf Co (ELY)
US Bancorp DE grew its stake in Callaway Golf Co (NYSE:ELY) by 7.8% in the fourth quarter, Holdings Channel reports. The fund owned 193,640 shares of the company’s stock after acquiring an additional 13,947 shares during the period. US Bancorp DE’s holdings in Callaway Golf were worth $2,698,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in ELY. Copper Rock Capital Partners LLC increased its stake in shares of Callaway Golf by 24.9% in the 4th quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock valued at $34,117,000 after acquiring an additional 483,441 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Callaway Golf in the 4th quarter valued at about $5,760,000. Dimensional Fund Advisors LP increased its stake in shares of Callaway Golf by 3.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock valued at $95,720,000 after acquiring an additional 240,520 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of 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 valued at $4,260,000 after acquiring an additional 207,658 shares during the last quarter. Finally, Nicholas Investment Partners LP increased its stake in shares of Callaway Golf by 54.3% in the 3rd quarter. Nicholas Investment Partners LP now owns 547,079 shares of the company’s stock valued at $7,894,000 after acquiring an additional 192,472 shares during the last quarter. 88.56% of the stock is owned by institutional investors.
In other Callaway Golf news, SVP Brian P. Lynch sold 25,911 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $14.84, for a total transaction of $384,519.24. Following the completion of the transaction, the senior vice president now owns 31,599 shares of the company’s stock, valued at approximately $468,929.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Anthony S. Thornley sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $15.14, for a total value of $151,400.00. Following the transaction, the director now directly owns 35,034 shares of the company’s stock, valued at approximately $530,414.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,487 shares of company stock valued at $1,183,377. 2.59% of the stock is owned by company insiders.
Callaway Golf (NYSE:ELY) last posted its earnings results on Wednesday, February 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. Callaway Golf had a return on equity of 7.85% and a net margin of 3.89%. The business had revenue of $192.00 million during the quarter, compared to analysts’ expectations of $184.74 million. During the same period in the prior year, the business earned ($0.09) EPS. Callaway Golf’s revenue for the quarter was up 17.1% compared to the same quarter last year. equities analysts anticipate that Callaway Golf Co will post 0.69 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 7th. Investors of record on Wednesday, February 14th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.26%. Callaway Golf’s payout ratio is 9.52%.
A number of analysts have recently commented on the company. B. Riley reaffirmed a “buy” rating on shares of Callaway Golf in a research note on Wednesday, November 1st. Cowen raised Callaway Golf from a “sell” rating to a “neutral” rating and set a $14.00 price target for the company in a research note on Wednesday, February 7th. DA Davidson set a $18.00 price target on Callaway Golf and gave the company a “buy” rating in a research note on Wednesday, December 27th. Roth Capital set a $17.00 price target on Callaway Golf and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, Forward View reaffirmed a “hold” rating on shares of Callaway Golf in a research note on Saturday, October 28th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $16.40.
Callaway Golf 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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