California Public Employees Retirement System Sells 2,400 Shares of Callaway Golf Company (ELY)

California Public Employees Retirement System cut its holdings in shares of Callaway Golf Company (NYSE:ELY) by 18.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,700 shares of the company’s stock after selling 2,400 shares during the quarter. California Public Employees Retirement System’s holdings in Callaway Golf were worth $137,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp boosted its position in Callaway Golf by 3.3% during the first quarter. State Street Corp now owns 2,155,825 shares of the company’s stock worth $23,869,000 after acquiring an additional 69,111 shares during the last quarter. Bernzott Capital Advisors boosted its holdings in Callaway Golf by 5.9% in the 2nd quarter. Bernzott Capital Advisors now owns 1,655,112 shares of the company’s stock valued at $21,152,000 after purchasing an additional 91,975 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Callaway Golf by 1.0% in the 2nd quarter. Teachers Advisors LLC now owns 1,108,652 shares of the company’s stock valued at $14,169,000 after purchasing an additional 10,937 shares during the last quarter. Heartland Advisors Inc. boosted its holdings in Callaway Golf by 3.0% in the 2nd quarter. Heartland Advisors Inc. now owns 846,730 shares of the company’s stock valued at $10,821,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Monarch Partners Asset Management LLC boosted its holdings in Callaway Golf by 38.0% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 524,605 shares of the company’s stock valued at $6,704,000 after purchasing an additional 144,410 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

In other news, SVP Brian P. Lynch sold 6,277 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $15.42, for a total value of $96,791.34. Following the transaction, the senior vice president now directly owns 46,184 shares in the company, valued at approximately $712,157.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anthony S. Thornley sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $14.40, for a total transaction of $100,800.00. Following the completion of the transaction, the director now owns 47,034 shares in the company, valued at $677,289.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,850 shares of company stock worth $437,772. Company insiders own 2.59% of the company’s stock.

Several research firms have weighed in on ELY. Aegis reiterated a “buy” rating on shares of Callaway Golf in a report on Monday, September 4th. Imperial Capital reiterated an “outperform” rating and issued a $16.00 target price (up from $14.50) on shares of Callaway Golf in a report on Wednesday, August 9th. B. Riley reiterated a “buy” rating on shares of Callaway Golf in a report on Wednesday, November 1st. Compass Point lowered shares of Callaway Golf from a “buy” rating to a “neutral” rating and boosted their target price for the company from $13.60 to $13.75 in a report on Monday, August 7th. Finally, DA Davidson reiterated a “buy” rating and issued a $16.00 target price on shares of Callaway Golf in a report on Wednesday, September 20th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $15.67.

Callaway Golf Company (NYSE ELY) opened at $14.12 on Monday. Callaway Golf Company has a fifty-two week low of $9.93 and a fifty-two week high of $15.63. The company has a market cap of $1,334.85, a P/E ratio of 27.69, a PEG ratio of 1.85 and a beta of 1.12.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.09. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The firm had revenue of $243.60 million for the quarter, compared to analyst estimates of $209.52 million. During the same period in the prior year, the business posted ($0.06) EPS. The business’s revenue for the quarter was up 29.7% compared to the same quarter last year. research analysts forecast that Callaway Golf Company will post 0.51 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 22nd will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. Callaway Golf’s dividend payout ratio is currently 2.09%.

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Callaway Golf 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.

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

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