Texas Teachers’ Retirement System buys 1,275 shares of Callaway Golf (NYSE:ELY)


Teacher Retirement System of Texas increased its holdings in Callaway Golf (NYSE:ELY – Get Rating) by 5.4% during the 1st quarter, according to the company in its latest 13F filing with the Securities & Exchange Commission. The company held 24,723 shares of the company after purchasing an additional 1,275 shares during the period. The Teacher Retirement System of Texas holdings in Callaway Golf were worth $579,000 when it was last filed with the SEC.

Other institutional investors have also recently increased or reduced their stake in the company. Victory Capital Management Inc. increased its position in Callaway Golf by 1.0% in the fourth quarter. Victory Capital Management Inc. now owns 321,195 shares of the company worth $8,814,000 after purchasing an additional 3,028 shares during the period. Stephens Inc. AR bought a new position in Callaway Golf in Q1 worth approximately $505,000. State Street Corp increased its position in Callaway Golf by 2.4% in the fourth quarter. State Street Corp now owns 3,438,369 shares of the company worth $94,349,000 after purchasing an additional 80,838 shares during the period. Commonwealth Equity Services LLC increased its position in Callaway Golf by 4.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 18,257 shares of the company worth $501,000 after purchasing an additional 800 shares during the period. Finally, Rice Hall James & Associates LLC increased its position in Callaway Golf by 57.4% in the 4th quarter. Rice Hall James & Associates LLC now owns 120,376 shares of the company worth $3,303,000 after purchasing an additional 43,906 shares during the period. 87.20% of the shares are held by institutional investors.

Analysts set new price targets

A number of analysts have recently released reports on the company. Roth Capital restated a “buy” rating on Callaway Golf shares in a Wednesday, April 27 research report. Berenberg Bank restated a “buy” rating and set a price target of $34.00 on Callaway Golf shares in a Friday, May 27 research report. StockNews.com upgraded Callaway Golf from a “sell” rating to a “hold” rating in a Monday, Aug. 8 research report. KeyCorp lowered its price target on Callaway Golf from $40.00 to $30.00 in a Thursday, May 12 research report. Finally, TheStreet upgraded Callaway Golf from a “c” to a “b-” rating in a Friday, August 12 research report. Two equity research analysts gave the stock a hold rating and eight gave the company a buy rating. Based on data from MarketBeat.com, Callaway Golf currently has an average rating of “Moderate Buy” and an average price target of $38.11.

Insiders place their bets

In other Callaway Golf news, Director Erik J. Anderson sold 5,000 shares of the company in a trade on Tuesday, August 16. The stock was sold at an average price of $24.89, for a total value of $124,450.00. Following the transaction, the administrator now owns 594,321 shares of the company, valued at $14,792,649.69. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Separately, director Erik J. Anderson sold 5,000 shares of the company in a trade on Tuesday, August 16. The stock was sold at an average price of $24.89, for a total transaction of $124,450.00. Following the completion of the sale, the administrator now owns 594,321 shares of the company, valued at $14,792,649.69. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Additionally, director Erik J. Anderson sold 22,500 shares of the company in a trade on Monday, August 8. The stock was sold at an average price of $23.04, for a total value of $518,400.00. Following the sale, the director now owns 599,321 shares of the company, valued at approximately $13,808,355.84. The disclosure of this sale can be found here. Insiders hold 13.46% of the company’s shares.

Callaway Golf Price Performance

ELY shares opened at $23.76 on Monday. The company has a debt ratio of 0.28, a current ratio of 1.29 and a quick ratio of 0.71. The company has a market capitalization of $4.39 billion, a price/earnings ratio of 32.11, a P/E/G ratio of 1.48 and a beta of 1.76. The stock’s fifty-day simple moving average is $21.86 and its 200-day simple moving average is $22.33. Callaway Golf has a one-year low of $17.78 and a one-year high of $31.68.

Callaway Golf (NYSE:ELY – Get Rating) last released its quarterly earnings data on Friday, August 5. The company reported EPS of $0.47 for the quarter, beating analyst consensus estimates of $0.43 by $0.04. The company posted revenue of $1.12 billion for the quarter, compared to analysts’ estimates of $1.10 billion. Callaway Golf achieved a return on equity of 4.17% and a net margin of 4.02%. The company’s revenue increased 22.1% year over year. In the same quarter of the previous year, the company made earnings per share of $0.36. On average, analysts expect Callaway Golf to post earnings per share of 0.83 for the current fiscal year.

About Callaway Golf

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Callaway Golf Company, together with its subsidiaries, designs, manufactures and sells golf equipment, golf and lifestyle apparel and other accessories. It operates through three segments: Topgolf; golf equipment; and clothing, equipment and others. The Topgolf segment operates Topgolf venues equipped with technology hitting bays, multiple bars, dining and event spaces, as well as Toptracer ball flight tracking technology used by independent driving ranges and the broadcast television; and the digital golf game World Golf Tour.

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Institutional ownership by quarter for Callaway Golf (NYSE: ELY)



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Michael C. Ford