Todays Report: The Virginia Retirement Systems ET AL Acquires 40,300 Shares of Callaway Golf Co. (ELY)

The Virginia Retirement Systems ET AL Acquires 40,300  Shares of Callaway Golf Co. (ELY)

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.

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