Virginia Retirement Systems ET AL bought a new position in Callaway Golf Co. (NYSE:ELY) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 40,300 shares of the company’s stock, valued at approximately $411,000.
A number of other large investors also recently made changes to their positions in the company. Silver Capital Management LLC bought a new stake in shares of Callaway Golf during the second quarter worth about $102,000. Boothbay Fund Management LLC acquired a new position in shares of Callaway Golf during the first quarter worth approximately $112,000. Legal & General Group Plc raised its position in shares of Callaway Golf by 10.8% in the first quarter. Legal & General Group Plc now owns 12,987 shares of the company’s stock worth $119,000 after buying an additional 1,268 shares during the period. Airain ltd acquired a new position in shares of Callaway Golf during the second quarter worth approximately $119,000. Finally, PineBridge Investments L.P. raised its position in shares of Callaway Golf by 4.0% in the second quarter. PineBridge Investments L.P. now owns 11,914 shares of the company’s stock worth $121,000 after buying an additional 457 shares during the period. 84.34% of the stock is owned by hedge funds and other institutional investors.
Callaway Golf Co. (NYSE:ELY) opened at 11.21 on Friday. The firm’s 50-day moving average price is $11.50 and its 200 day moving average price is $10.35. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 28.38 and a beta of 1.30. Callaway Golf Co. has a 1-year low of $8.00 and a 1-year high of $11.90.
Callaway Golf (NYSE:ELY) last issued its earnings results on Wednesday, July 27th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.06. Callaway Golf had a return on equity of 8.69% and a net margin of 4.53%. The company earned $245.60 million during the quarter, compared to the consensus estimate of $242.49 million. During the same period in the previous year, the company posted $0.15 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts predict that Callaway Golf Co. will post $0.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. Callaway Golf’s dividend payout ratio is currently 10.26%.
ELY has been the subject of a number of research analyst reports. TheStreet upgraded Callaway Golf from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Jefferies Group reiterated a “buy” rating and set a $14.00 price target on shares of Callaway Golf in a report on Thursday, July 28th. Forward View reiterated a “buy” rating on shares of Callaway Golf in a report on Sunday, July 24th. Roth Capital reiterated a “buy” rating and set a $11.00 price target on shares of Callaway Golf in a report on Thursday, June 30th. Finally, DA Davidson set a $14.00 price target on Callaway Golf and gave the stock a “buy” rating in a report on Monday, August 29th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $13.29.
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 the Company’s trademarks and service marks and sales of pre-owned golf clubs.