Kornitzer Capital Management Inc. KS cut its holdings in shares of Brunswick Co. (NYSE:BC) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,940 shares of the company’s stock after selling 385 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Brunswick were worth $2,551,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Brunswick by 1.2% during the second quarter. Vanguard Group Inc. now owns 7,881,163 shares of the company’s stock valued at $361,667,000 after buying an additional 93,178 shares during the last quarter. Cantillon Capital Management LLC boosted its position in Brunswick by 43.4% in the third quarter. Cantillon Capital Management LLC now owns 3,492,394 shares of the company’s stock worth $182,024,000 after purchasing an additional 1,057,778 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Brunswick by 6.6% in the second quarter. JPMorgan Chase & Co. now owns 3,218,425 shares of the company’s stock worth $142,867,000 after purchasing an additional 198,288 shares during the last quarter. Schroder Investment Management Group boosted its position in Brunswick by 7.3% in the second quarter. Schroder Investment Management Group now owns 2,094,683 shares of the company’s stock worth $96,125,000 after purchasing an additional 142,175 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Brunswick by 2.6% in the second quarter. Invesco Ltd. now owns 1,518,030 shares of the company’s stock worth $69,663,000 after purchasing an additional 38,081 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on BC. ValuEngine raised Brunswick from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Jefferies Financial Group lifted their price objective on Brunswick from $60.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Longbow Research cut Brunswick from a “buy” rating to a “neutral” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut Brunswick from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $61.00 to $46.00 in a research report on Monday, July 22nd. Finally, Royal Bank of Canada set a $58.00 price objective on Brunswick and gave the company a “hold” rating in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $61.67.
Shares of BC stock traded down $0.07 during trading hours on Friday, reaching $60.84. 500,925 shares of the company traded hands, compared to its average volume of 1,080,720. Brunswick Co. has a 12-month low of $41.02 and a 12-month high of $62.23. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.87 and a quick ratio of 0.98. The company has a market cap of $4.97 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.42 and a beta of 1.72. The firm has a 50-day moving average price of $54.94 and a 200 day moving average price of $49.02.
Brunswick (NYSE:BC) last issued its earnings results on Thursday, October 24th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.11. The company had revenue of $976.60 million for the quarter, compared to the consensus estimate of $984.32 million. Brunswick had a positive return on equity of 25.96% and a negative net margin of 3.32%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the company earned $1.28 EPS. Sell-side analysts predict that Brunswick Co. will post 4.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from Brunswick’s previous quarterly dividend of $0.21. Brunswick’s dividend payout ratio (DPR) is 17.61%.
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. The company's Marine Engine segment offers outboard, sterndrive, and inboard engine and propulsion systems; marine electronics and control integration systems, steering systems, instruments, controls, propellers, trolling motors, fuel systems, electrical systems, service parts, and lubricants; and integrated propulsion systems to the recreational and commercial marine markets, as well as parts and accessories.
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