Fintel reports that on August 11, 2023, Goldman Sachs maintained coverage of Topgolf Callaway Brands (NYSE:MODG) with a Neutral recommendation.

Analyst Price Forecast Suggests 98.26% Upside

As of August 2, 2023, the average one-year price target for Topgolf Callaway Brands is 33.27. The forecasts range from a low of 18.18 to a high of $58.80. The average price target represents an increase of 98.26% from its latest reported closing price of 16.78.

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The projected annual revenue for Topgolf Callaway Brands is 4,469MM, an increase of 6.74%. The projected annual non-GAAP EPS is 0.89.

What is the Fund Sentiment?

There are 698 funds or institutions reporting positions in Topgolf Callaway Brands. This is a decrease of 20 owner(s) or 2.92% in the last quarter. Average portfolio weight of all funds dedicated to MODG is 0.34%, an increase of 13.14%. Total shares owned by institutions decreased in the last three months by 0.62% to 169,753K shares. The put/call ratio of MODG is 0.89, indicating a bullish outlook.

What are Other Shareholders Doing?

Providence Equity Partners L.L.C. holds 21,175K shares representing 11.41% ownership of the company. No change in the last quarter.

Goldman Sachs Group holds 4,750K shares representing 2.56% ownership of the company. In it’s prior filing, the firm reported owning 3,325K shares, representing an increase of 30.00%. The firm decreased its portfolio allocation in MODG by 56.71% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 4,277K shares representing 2.30% ownership of the company. In it’s prior filing, the firm reported owning 4,281K shares, representing a decrease of 0.10%. The firm increased its portfolio allocation in MODG by 4.67% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,265K shares representing 2.30% ownership of the company. In it’s prior filing, the firm reported owning 4,192K shares, representing an increase of 1.72%. The firm increased its portfolio allocation in MODG by 2.85% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 3,629K shares representing 1.96% ownership of the company. In it’s prior filing, the firm reported owning 3,572K shares, representing an increase of 1.57%. The firm increased its portfolio allocation in MODG by 6.74% over the last quarter.

Topgolf Callaway Brands Background Information
(This description is provided by the company.)

Callaway Golf Company is a premium golf equipment and active lifestyle company with a portfolio of global brands, including Callaway Golf, Odyssey, OGIO, TravisMathew and Jack Wolfskin. Through an unwavering commitment to innovation, Callaway manufactures and sells premium golf clubs, golf balls, golf and lifestyle bags, golf and lifestyle apparel and other accessories.

This article originally appeared on Fintel

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