Callaway Golf (CALY)
Designs golf clubs, balls, apparel, bags, and travel gear across four brands.
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Sells Callaway and Odyssey clubs, balls, and putters alongside TravisMathew apparel and OGIO bags and travel gear through wholesale, retail, and direct channels worldwide. Golf Equipment is the larger segment, while Topgolf is now a noncontrolling equity-method investment rather than an operating business.
Designs, manufactures, and sells golf clubs and balls through Callaway Golf and Odyssey, while TravisMathew and OGIO extend the portfolio into golf and lifestyle apparel, bags, travel gear, and accessories. Golf Equipment is the larger of two operating segments; Apparel, Gear and Other combines branded soft goods with licensing royalties.
Develops products with computer-aided design, structural analysis, testing robots, and custom fitting, then sells through pro shops, specialty and sporting-goods retailers, distributors, company websites, and selected stores. The United States is the largest market, with Europe and Asia the main international regions.
Sales depend on seasonal golf participation, retailer reorders, limited suppliers, global contract manufacturing, and conformity with USGA and R&A equipment rules. Jack Wolfskin and Topgolf are excluded from continuing operations; a noncontrolling Topgolf stake remains an equity-method investment.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 14, 2026 | UBS | Reiterate | Rating: —Target: $19 | Target: $17 |
| Sep 1, 2026 | Truist Financial | Target | Target: $19 | Target: $20 |
| Aug 5, 2026 | Roth Capital | Reiterate | Rating: —Target: $20 | Target: $22 |
| Aug 5, 2026 | Morgan Stanley | Target | Target: $17 | Target: $19 |
| Aug 5, 2026 | KeyBanc | Reiterate | Rating: —Target: — | Target: $22 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $278.1M · Total debt $250.4M · Total assets $2.78B · Shareholders' equity $2.16B
- Revenue
- $612.2M
- Operating income
- $114.8M
- Net income
- $75.2M
HistoryDividendAnnual yield
| Institutions | ≈ 1.78% | 3.19M shares | |
|---|---|---|---|
| 108 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 1.88% | 3.39M shares | |
| 16 holders · as of Sep 16, 2026 | |||
| Strategic holders | 6.22% | 11.18M shares | |
| 1 holder · as of Jan 28, 2026 | |||
| Other | ≈ 90.12% | 162.00M shares | |
| remainder | |||
179.76M company shares as of Aug 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count has not been confirmed by a second filing; stakes use it as it stands.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
PEP TG Investments GP LLCStrategic10 percent owner | 6.22% | 11.18M | filed Jan 28, 2026 |
Oliver G. Iii BrewerInsiderdirector, officer: President and CEO | 0.59% | 1.06M | filed Aug 10, 2026 |
Erik J. AndersonInsiderdirector | 0.34% | 619,612 | filed May 21, 2026 |
Mark F. LeposkyInsiderofficer: EVP,Chief Supply Chain Officer | 0.19% | 348,651 | filed Apr 23, 2026 |
LPL Financial LLCInstitution | 0.19% | 345,438 | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | Oliver G. Iii Brewer | director, officer: President and CEO | −1,107 | $18.00 |
| Aug 6, 2026 | Oliver G. Iii Brewer | director, officer: President and CEO | −53,339 | $18.30 |
| Aug 6, 2026 | Glenn F. Hickey | officer: EVP & Pres., Callaway Sales | −28,843 | $18.74 |
| May 12, 2026 | Erik J. Anderson | director | −25,000 | $15.74 |
| May 11, 2026 | Erik J. Anderson | director | −75,000 | $17.12 |
