Thrivent Financial for Lutherans Lowers Stock Position in Callaway Golf (NYSE:ELY)

Thrivent Financial for Lutherans reduced its stake in Callaway Golf (NYSE:ELY) by 72.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,960 shares of the company’s stock after selling 80,648 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Callaway Golf were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in ELY. George Kaiser Family Foundation grew its position in Callaway Golf by 997.1% during the second quarter. George Kaiser Family Foundation now owns 4,124,226 shares of the company’s stock valued at $139,110,000 after acquiring an additional 3,748,294 shares during the last quarter. Vanguard Group Inc. grew its position in Callaway Golf by 38.6% during the second quarter. Vanguard Group Inc. now owns 11,076,486 shares of the company’s stock valued at $373,610,000 after acquiring an additional 3,082,413 shares during the last quarter. Wasatch Advisors Inc. bought a new position in Callaway Golf during the second quarter valued at approximately $50,953,000. Deutsche Bank AG grew its position in Callaway Golf by 670.8% during the second quarter. Deutsche Bank AG now owns 991,712 shares of the company’s stock valued at $33,451,000 after acquiring an additional 863,058 shares during the last quarter. Finally, Amundi bought a new position in Callaway Golf during the second quarter valued at approximately $19,226,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

NYSE:ELY opened at $28.14 on Thursday. The stock has a market cap of $5.23 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 3.93 and a beta of 1.96. The firm’s fifty day simple moving average is $28.63 and its 200 day simple moving average is $30.94. Callaway Golf has a twelve month low of $19.40 and a twelve month high of $37.75. The company has a quick ratio of 1.14, a current ratio of 1.59 and a debt-to-equity ratio of 0.28.

Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Tuesday, November 9th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.04. Callaway Golf had a net margin of 11.00% and a return on equity of 4.84%. During the same period in the previous year, the company earned $0.60 EPS. On average, analysts expect that Callaway Golf will post 0.58 EPS for the current fiscal year.

A number of brokerages have commented on ELY. TheStreet cut shares of Callaway Golf from a “b-” rating to a “c” rating in a research report on Monday, August 9th. Raymond James raised their target price on shares of Callaway Golf from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 10th. Roth Capital raised their target price on shares of Callaway Golf from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, August 10th. Berenberg Bank restated a “buy” rating and issued a $40.00 target price on shares of Callaway Golf in a report on Wednesday, September 15th. Finally, KeyCorp raised their target price on shares of Callaway Golf from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, November 11th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $40.55.

In other Callaway Golf news, major shareholder Pep Tg Investments Lp sold 3,000,000 shares of the firm’s stock in a transaction on Monday, November 15th. The stock was sold at an average price of $28.81, for a total transaction of $86,430,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Erik J. Anderson sold 139,832 shares of the firm’s stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $30.00, for a total value of $4,194,960.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,739,832 shares of company stock worth $217,768,960. 1.23% of the stock is currently owned by company insiders.

About Callaway Golf

Callaway Golf Co engages in the manufacture and distribution of golf equipment and accessories. It operates through the following segments: Golf Equipment; and Apparel, Gear, and Other. The Golf Equipment segment focuses in the designs, manufactures, and selling of a full line of golf equipment. The Apparel, Gear, and Other segment involves in the development and selling of soft goods products under the Callaway, TravisMathew, OGIO, and Jack Wolfskin brands.

Further Reading: Price-Sales Ratio

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

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