Neil Howie Sells 37,069 Shares of Callaway Golf Co (ELY) Stock
Callaway Golf Co (NYSE:ELY) insider Neil Howie sold 37,069 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $13.10, for a total transaction of $485,603.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Neil Howie also recently made the following trade(s):
- On Tuesday, March 21st, Neil Howie sold 70,089 shares of Callaway Golf stock. The shares were sold at an average price of $11.50, for a total transaction of $806,023.50.
Callaway Golf Co (NYSE:ELY) traded down 1.68% during mid-day trading on Friday, reaching $12.89. 1,130,573 shares of the company traded hands. Callaway Golf Co has a 52-week low of $8.96 and a 52-week high of $13.35. The stock has a market capitalization of $1.21 billion, a PE ratio of 6.97 and a beta of 1.33. The stock has a 50-day moving average of $11.68 and a 200 day moving average of $11.29.
Callaway Golf (NYSE:ELY) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08. Callaway Golf had a net margin of 21.80% and a return on equity of 9.93%. The company had revenue of $309 million during the quarter, compared to analyst estimates of $283.68 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts expect that Callaway Golf Co will post $0.33 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Tuesday, May 23rd will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, May 19th. Callaway Golf’s payout ratio is currently 2.02%.
Several large investors have recently added to or reduced their stakes in ELY. State of Alaska Department of Revenue raised its stake in Callaway Golf by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 10,440 shares of the company’s stock valued at $115,000 after buying an additional 260 shares during the last quarter. Tudor Investment Corp Et Al acquired a new stake in Callaway Golf during the fourth quarter valued at about $149,000. Koch Industries Inc. acquired a new stake in Callaway Golf during the first quarter valued at about $162,000. First Citizens Bank & Trust Co. acquired a new stake in Callaway Golf during the first quarter valued at about $169,000. Finally, Suntrust Banks Inc. raised its stake in Callaway Golf by 2.5% in the first quarter. Suntrust Banks Inc. now owns 18,036 shares of the company’s stock valued at $199,000 after buying an additional 441 shares during the last quarter. 85.85% of the stock is owned by institutional investors.
A number of analysts have commented on the stock. FBR & Co set a $14.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a report on Saturday, May 6th. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Tuesday, April 18th. Morgan Stanley downgraded shares of Callaway Golf from an “overweight” rating to an “equal weight” rating in a report on Monday, April 17th. Jefferies Group LLC restated a “buy” rating and set a $14.00 price target on shares of Callaway Golf in a report on Wednesday, March 22nd. Finally, Imperial Capital restated an “outperform” rating and set a $13.00 price target on shares of Callaway Golf in a report on Tuesday, March 21st. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Callaway Golf currently has an average rating of “Buy” and an average target price of $13.65.
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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