Point72 Asset Management L.P. increased its position in Callaway Golf Co (NYSE:ELY) by 147.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,165,717 shares of the company’s stock after buying an additional 693,978 shares during the quarter. Point72 Asset Management L.P. owned 1.24% of Callaway Golf worth $24,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in ELY. Millennium Management LLC grew its position in Callaway Golf by 9,204.5% in the 3rd quarter. Millennium Management LLC now owns 1,164,645 shares of the company’s stock worth $22,605,000 after purchasing an additional 1,152,128 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Callaway Golf by 282.5% in the fourth quarter. Driehaus Capital Management LLC now owns 739,015 shares of the company’s stock worth $15,667,000 after acquiring an additional 545,827 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Callaway Golf by 23.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,775,728 shares of the company’s stock worth $58,846,000 after acquiring an additional 518,647 shares during the last quarter. Castleark Management LLC bought a new position in shares of Callaway Golf in the third quarter worth about $9,499,000. Finally, Empirical Capital Management LLC bought a new position in shares of Callaway Golf in the third quarter worth about $7,803,000. Institutional investors own 98.08% of the company’s stock.

NYSE:ELY traded up $0.99 during trading hours on Wednesday, reaching $10.10. 2,585,767 shares of the stock were exchanged, compared to its average volume of 1,183,089. The company has a quick ratio of 0.64, a current ratio of 1.51 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average of $15.48 and a two-hundred day moving average of $19.24. Callaway Golf Co has a twelve month low of $4.75 and a twelve month high of $22.33. The company has a market capitalization of $674.60 million, a price-to-earnings ratio of 12.47 and a beta of 1.43.

Callaway Golf (NYSE:ELY) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.03). The firm had revenue of $312.00 million for the quarter, compared to the consensus estimate of $305.49 million. Callaway Golf had a return on equity of 13.82% and a net margin of 4.67%. The firm’s revenue was up 72.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.32) EPS. On average, research analysts forecast that Callaway Golf Co will post 1.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Thursday, February 13th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Wednesday, February 12th. Callaway Golf’s dividend payout ratio is presently 3.64%.

In other Callaway Golf news, EVP Glenn F. Hickey sold 24,595 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $21.81, for a total value of $536,416.95. Following the completion of the sale, the executive vice president now owns 8,552 shares in the company, valued at $186,519.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.97% of the company’s stock.

Several equities research analysts recently weighed in on the company. B. Riley reissued a “buy” rating and issued a $30.00 price objective on shares of Callaway Golf in a report on Tuesday, February 11th. Roth Capital reiterated a “buy” rating and issued a $21.00 price objective on shares of Callaway Golf in a report on Thursday, March 5th. Zacks Investment Research cut Callaway Golf from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Berenberg Bank reiterated a “buy” rating and issued a $26.00 price objective on shares of Callaway Golf in a report on Sunday, February 16th. Finally, Stephens reiterated a “buy” rating and issued a $25.00 price objective on shares of Callaway Golf in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $22.72.

About Callaway Golf

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.

Further Reading: Catch-Up Contributions

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

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