Hartford Investment Management Co. Acquires 85,552 Shares of Callaway Golf Company (ELY)
Hartford Investment Management Co. raised its position in Callaway Golf Company (NYSE:ELY) by 22.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 469,198 shares of the company’s stock after buying an additional 85,552 shares during the period. Hartford Investment Management Co. owned approximately 0.50% of Callaway Golf Company worth $5,447,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Columbus Circle Investors acquired a new position in Callaway Golf Company during the third quarter worth approximately $9,938,000. Teachers Advisors LLC increased its position in Callaway Golf Company by 355.0% in the third quarter. Teachers Advisors LLC now owns 893,070 shares of the company’s stock worth $10,369,000 after buying an additional 696,798 shares in the last quarter. BlackRock Fund Advisors increased its position in Callaway Golf Company by 10.6% in the second quarter. BlackRock Fund Advisors now owns 5,985,299 shares of the company’s stock worth $61,110,000 after buying an additional 574,968 shares in the last quarter. Northpointe Capital LLC increased its position in Callaway Golf Company by 52.5% in the second quarter. Northpointe Capital LLC now owns 1,344,771 shares of the company’s stock worth $13,730,000 after buying an additional 463,215 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new position in Callaway Golf Company during the second quarter worth approximately $2,768,000. Institutional investors own 85.98% of the company’s stock.
Shares of Callaway Golf Company (NYSE:ELY) traded up 2.77% on Friday, hitting $11.49. 204,904 shares of the stock traded hands. The stock has a 50 day moving average price of $11.52 and a 200-day moving average price of $11.21. Callaway Golf Company has a 52 week low of $8.00 and a 52 week high of $12.56. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 34.71 and a beta of 1.43.
Callaway Golf Company (NYSE:ELY) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.06. Callaway Golf Company had a net margin of 4.20% and a return on equity of 7.84%. The business had revenue of $188 million for the quarter, compared to analysts’ expectations of $177.39 million. During the same period in the previous year, the company earned ($0.04) earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Callaway Golf Company will post $0.51 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 21st. Investors of record on Wednesday, November 30th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.36%. The ex-dividend date was Monday, November 28th. Callaway Golf Company’s dividend payout ratio (DPR) is presently 10.81%.
A number of equities research analysts have recently issued reports on ELY shares. Compass Point cut shares of Callaway Golf Company from a “buy” rating to a “neutral” rating in a report on Wednesday, November 30th. Jefferies Group set a $16.00 target price on shares of Callaway Golf Company and gave the company a “buy” rating in a report on Monday, December 12th. KeyCorp reaffirmed a “buy” rating and issued a $16.00 target price on shares of Callaway Golf Company in a report on Friday, September 23rd. Zacks Investment Research cut shares of Callaway Golf Company from a “buy” rating to a “hold” rating in a report on Tuesday, October 11th. Finally, Wunderlich reaffirmed a “buy” rating and issued a $15.00 target price on shares of Callaway Golf Company in a report on Thursday, January 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $13.65.
About Callaway Golf Company
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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