Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Brunswick Co. (NYSE:BC – Free Report) by 4.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 34,182 shares of the company’s stock after acquiring an additional 1,525 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Brunswick were worth $2,962,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the business. Advisory Services Network LLC raised its position in shares of Brunswick by 6.6% during the 1st quarter. Advisory Services Network LLC now owns 2,187 shares of the company’s stock valued at $179,000 after buying an additional 136 shares in the last quarter. Savant Capital LLC raised its position in Brunswick by 2.4% in the 1st quarter. Savant Capital LLC now owns 6,077 shares of the company’s stock worth $498,000 after purchasing an additional 141 shares during the period. Industrial Alliance Investment Management Inc. raised its position in Brunswick by 10.3% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,590 shares of the company’s stock worth $130,000 after purchasing an additional 149 shares during the period. Sheaff Brock Investment Advisors LLC raised its position in Brunswick by 1.0% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 15,025 shares of the company’s stock worth $1,302,000 after purchasing an additional 151 shares during the period. Finally, Truist Financial Corp raised its position in Brunswick by 1.4% in the 2nd quarter. Truist Financial Corp now owns 11,742 shares of the company’s stock worth $1,017,000 after purchasing an additional 167 shares during the period. 94.44% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on BC. JPMorgan Chase & Co. lowered shares of Brunswick from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $109.00 to $79.00 in a research report on Monday, September 11th. BMO Capital Markets reduced their price objective on shares of Brunswick from $122.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. Stifel Nicolaus dropped their target price on shares of Brunswick from $102.00 to $92.00 in a research note on Tuesday, September 19th. StockNews.com upgraded shares of Brunswick from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Finally, Truist Financial dropped their target price on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.21.
Insider Buying and Selling at Brunswick
In other Brunswick news, Director Nancy E. Cooper sold 414 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $68.57, for a total value of $28,387.98. Following the completion of the sale, the director now directly owns 21,887 shares in the company, valued at $1,500,791.59. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.58% of the stock is owned by insiders.
Brunswick Price Performance
NYSE BC opened at $77.11 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.60 and a current ratio of 1.47. The firm’s 50 day moving average price is $74.45 and its 200-day moving average price is $79.66. Brunswick Co. has a 52-week low of $66.47 and a 52-week high of $93.15. The company has a market cap of $5.38 billion, a PE ratio of 10.98 and a beta of 1.49.
Brunswick (NYSE:BC – Get Free Report) last released its quarterly earnings data on Thursday, October 26th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.06. Brunswick had a net margin of 7.57% and a return on equity of 32.09%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the firm earned $2.67 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. Sell-side analysts forecast that Brunswick Co. will post 9 EPS for the current fiscal year.
Brunswick Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 22nd will be paid a $0.40 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $1.60 annualized dividend and a yield of 2.07%. Brunswick’s dividend payout ratio (DPR) is 22.79%.
Brunswick Company Profile
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through three segments: Propulsion, Parts & Accessories, and Boat. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.
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