Callaway Golf Company (NYSE:ELY) SVP Richard H. Arnett sold 8,070 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $14.01, for a total transaction of $113,060.70. Following the completion of the transaction, the senior vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $70,050. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Callaway Golf Company (NYSE ELY) opened at $13.85 on Tuesday. The firm has a market cap of $1,323.51, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10. Callaway Golf Company has a fifty-two week low of $9.93 and a fifty-two week high of $15.63.
Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The firm had revenue of $243.60 million for the quarter, compared to analysts’ expectations of $209.52 million. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The business’s revenue was up 29.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) EPS. equities analysts anticipate that Callaway Golf Company will post 0.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 22nd will be issued a $0.01 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $0.04 annualized dividend and a yield of 0.29%. Callaway Golf’s dividend payout ratio is currently 2.09%.
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A number of institutional investors have recently added to or reduced their stakes in ELY. BlackRock Inc. increased its holdings in shares of Callaway Golf by 56,247.6% during the first quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock worth $129,526,000 after purchasing an additional 11,679,804 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Callaway Golf by 3.8% during the third quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock worth $95,720,000 after purchasing an additional 240,520 shares during the period. Daruma Capital Management LLC bought a new position in shares of Callaway Golf during the second quarter worth approximately $48,831,000. State Street Corp increased its holdings in shares of Callaway Golf by 2.8% during the second quarter. State Street Corp now owns 2,215,678 shares of the company’s stock worth $28,317,000 after purchasing an additional 59,853 shares during the period. Finally, Bernzott Capital Advisors increased its holdings in shares of Callaway Golf by 5.9% during the second quarter. Bernzott Capital Advisors now owns 1,655,112 shares of the company’s stock worth $21,152,000 after purchasing an additional 91,975 shares during the period. 88.69% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Callaway Golf from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 25th. KeyCorp restated an “overweight” rating and set a $16.00 price objective on shares of Callaway Golf in a research note on Wednesday, August 30th. FBR & Co set a $16.00 price objective on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Thursday, October 26th. Compass Point downgraded shares of Callaway Golf from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $13.60 to $13.75 in a research note on Monday, August 7th. Finally, B. Riley restated a “buy” rating on shares of Callaway Golf in a research note on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $15.67.
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 its trademarks and service marks and sales of pre-owned golf clubs.
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