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JP Morgan Maintains Topgolf Callaway Brands (MODG) Overweight Recommendation

Fintel reports that on September 13, 2023, JP Morgan maintained coverage of Topgolf Callaway Brands (NYSE:MODG) with a Overweight recommendation.

Analyst Price Forecast Suggests 81.72% Upside

As of August 31, 2023, the average one-year price target for Topgolf Callaway Brands is 30.13. The forecasts range from a low of 16.16 to a high of $58.80. The average price target represents an increase of 81.72% from its latest reported closing price of 16.58.

See our leaderboard of companies with the largest price target upside.

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 663 funds or institutions reporting positions in Topgolf Callaway Brands. This is a decrease of 43 owner(s) or 6.09% in the last quarter. Average portfolio weight of all funds dedicated to MODG is 0.31%, a decrease of 7.50%. Total shares owned by institutions increased in the last three months by 1.21% to 171,712K shares. The put/call ratio of MODG is 0.82, indicating a bullish outlook.

What are Other Shareholders Doing?

MODG / Topgolf Callaway Brands Corp Shares Held by Institutions

Providence Equity Partners L.L.C. holds 21,175K shares representing 11.42% ownership of the company. No change in the last quarter.

Goldman Sachs Group holds 4,918K shares representing 2.65% ownership of the company. In it’s prior filing, the firm reported owning 4,750K shares, representing an increase of 3.42%. The firm increased its portfolio allocation in MODG by 208.99% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,330K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 4,265K shares, representing an increase of 1.51%. The firm decreased its portfolio allocation in MODG by 13.99% over the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 4,223K shares representing 2.28% ownership of the company. In it’s prior filing, the firm reported owning 4,277K shares, representing a decrease of 1.29%. The firm decreased its portfolio allocation in MODG by 13.17% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 3,594K shares representing 1.94% ownership of the company. In it’s prior filing, the firm reported owning 3,629K shares, representing a decrease of 0.97%. The firm decreased its portfolio allocation in MODG by 13.49% 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.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.

Click to Learn More

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Summarize this content to 100 words

Fintel reports that on September 13, 2023, JP Morgan maintained coverage of Topgolf Callaway Brands (NYSE:MODG) with a Overweight recommendation. Analyst Price Forecast Suggests 81.72% Upside As of August 31, 2023, the average one-year price target for Topgolf Callaway Brands is 30.13. The forecasts range from a low of 16.16 to a high of $58.80. The average price target represents an increase of 81.72% from its latest reported closing price of 16.58.

See our leaderboard of companies with the largest price target upside. 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 663 funds or institutions reporting positions in Topgolf Callaway Brands. This is a decrease of 43 owner(s) or 6.09% in the last quarter. Average portfolio weight of all funds dedicated to MODG is 0.31%, a decrease of 7.50%. Total shares owned by institutions increased in the last three months by 1.21% to 171,712K shares. The put/call ratio of MODG is 0.82, indicating a bullish outlook. What are Other Shareholders Doing? Providence Equity Partners L.L.C. holds 21,175K shares representing 11.42% ownership of the company. No change in the last quarter. Goldman Sachs Group holds 4,918K shares representing 2.65% ownership of the company. In it’s prior filing, the firm reported owning 4,750K shares, representing an increase of 3.42%. The firm increased its portfolio allocation in MODG by 208.99% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,330K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 4,265K shares, representing an increase of 1.51%. The firm decreased its portfolio allocation in MODG by 13.99% over the last quarter. IJH – iShares Core S&P Mid-Cap ETF holds 4,223K shares representing 2.28% ownership of the company. In it’s prior filing, the firm reported owning 4,277K shares, representing a decrease of 1.29%. The firm decreased its portfolio allocation in MODG by 13.17% over the last quarter. NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 3,594K shares representing 1.94% ownership of the company. In it’s prior filing, the firm reported owning 3,629K shares, representing a decrease of 0.97%. The firm decreased its portfolio allocation in MODG by 13.49% 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.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn MoreThis story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/jp-morgan-maintains-topgolf-callaway-brands-modg-overweight-recommendation JP Morgan Maintains Topgolf Callaway Brands (MODG) Overweight Recommendation

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