Kepos Capital LP Acquires New Position in Callaway Golf Co (ELY)

Kepos Capital LP acquired a new stake in shares of Callaway Golf Co (NYSE:ELY) during the 3rd quarter, HoldingsChannel reports. The fund acquired 89,640 shares of the company’s stock, valued at approximately $2,177,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Callaway Golf by 1.3% during the third quarter. BlackRock Inc. now owns 13,212,159 shares of the company’s stock worth $320,921,000 after purchasing an additional 170,389 shares during the period. Northern Trust Corp raised its stake in Callaway Golf by 2.9% during the second quarter. Northern Trust Corp now owns 2,184,677 shares of the company’s stock worth $41,443,000 after purchasing an additional 60,759 shares during the period. Millennium Management LLC raised its stake in Callaway Golf by 7.0% during the second quarter. Millennium Management LLC now owns 1,894,004 shares of the company’s stock worth $35,929,000 after purchasing an additional 123,633 shares during the period. Bank of New York Mellon Corp increased its position in shares of Callaway Golf by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 1,611,484 shares of the company’s stock worth $39,143,000 after acquiring an additional 4,130 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Callaway Golf by 8.0% in the second quarter. Wells Fargo & Company MN now owns 1,440,229 shares of the company’s stock worth $27,321,000 after acquiring an additional 106,277 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

ELY opened at $17.13 on Monday. The firm has a market cap of $1.62 billion, a P/E ratio of 32.32, a PEG ratio of 0.65 and a beta of 1.04. Callaway Golf Co has a twelve month low of $13.49 and a twelve month high of $24.67. The company has a quick ratio of 1.14, a current ratio of 2.28 and a debt-to-equity ratio of 0.01.

Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Wednesday, October 24th. The company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.09. The business had revenue of $262.65 million during the quarter, compared to analyst estimates of $250.83 million. Callaway Golf had a net margin of 9.08% and a return on equity of 16.48%. Equities analysts forecast that Callaway Golf Co will post 1.05 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 21st will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Tuesday, November 20th. Callaway Golf’s payout ratio is 7.55%.

ELY has been the subject of several recent research reports. Cowen increased their price objective on shares of Callaway Golf from $21.00 to $24.00 and gave the stock a “hold” rating in a research report on Friday, September 28th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $27.00 price objective on shares of Callaway Golf in a research report on Thursday, September 27th. Jefferies Financial Group reissued a “buy” rating and issued a $26.00 price objective on shares of Callaway Golf in a research report on Monday, October 29th. Compass Point set a $20.00 price objective on shares of Callaway Golf and gave the stock a “hold” rating in a research report on Monday, August 6th. Finally, ValuEngine lowered shares of Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $23.91.

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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 in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.

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

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