Everence Capital Management Inc. purchased a new stake in Callaway Golf Co (NYSE:ELY) in the 1st quarter, HoldingsChannel reports. The fund purchased 14,230 shares of the company’s stock, valued at approximately $227,000.
Several other hedge funds also recently modified their holdings of ELY. Oregon Public Employees Retirement Fund acquired a new stake in shares of Callaway Golf in the fourth quarter valued at about $34,000. Massey Quick Simon & CO. LLC increased its stake in shares of Callaway Golf by 50.0% in the fourth quarter. Massey Quick Simon & CO. LLC now owns 2,383 shares of the company’s stock valued at $36,000 after buying an additional 794 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of Callaway Golf in the first quarter valued at about $47,000. Pearl River Capital LLC acquired a new stake in shares of Callaway Golf in the fourth quarter valued at about $74,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Callaway Golf by 26.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,523 shares of the company’s stock valued at $100,000 after buying an additional 1,376 shares during the period. 92.33% of the stock is owned by institutional investors.
ELY has been the subject of several recent research reports. Berenberg Bank reissued a “buy” rating and issued a $24.00 price target on shares of Callaway Golf in a research note on Thursday, February 28th. Imperial Capital decreased their price target on Callaway Golf from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, February 7th. Finally, Zacks Investment Research cut Callaway Golf from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.91.
NYSE ELY opened at $15.65 on Monday. Callaway Golf Co has a one year low of $14.44 and a one year high of $24.67. The company has a market cap of $1.47 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 0.61 and a beta of 1.06. The company has a quick ratio of 0.85, a current ratio of 1.59 and a debt-to-equity ratio of 0.76.
Callaway Golf (NYSE:ELY) last released its earnings results on Thursday, May 9th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.49 by $0.14. Callaway Golf had a return on equity of 13.42% and a net margin of 6.68%. The business had revenue of $516.20 million during the quarter, compared to analysts’ expectations of $504.07 million. During the same quarter last year, the firm posted $0.65 earnings per share. The firm’s revenue was up 28.0% on a year-over-year basis. As a group, research analysts predict that Callaway Golf Co will post 1.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 21st will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.04 annualized dividend and a yield of 0.26%. Callaway Golf’s dividend payout ratio is currently 3.74%.
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About Callaway Golf
Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.
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