Suntrust Banks Inc. lessened its stake in Brunswick Corporation (NYSE:BC) by 38.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,230 shares of the company’s stock after selling 6,874 shares during the period. Suntrust Banks Inc.’s holdings in Brunswick Corporation were worth $703,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. acquired a new position in Brunswick Corporation during the 2nd quarter worth approximately $134,000. Bronfman E.L. Rothschild L.P. raised its stake in Brunswick Corporation by 149.8% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,550 shares of the company’s stock worth $160,000 after buying an additional 1,529 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Brunswick Corporation by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,217 shares of the company’s stock worth $202,000 after buying an additional 280 shares during the period. Pitcairn Co. acquired a new position in Brunswick Corporation during the 2nd quarter worth approximately $213,000. Finally, Envestnet Asset Management Inc. raised its stake in Brunswick Corporation by 59.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,932 shares of the company’s stock worth $240,000 after buying an additional 1,472 shares during the period. Hedge funds and other institutional investors own 93.99% of the company’s stock.
BC has been the subject of several analyst reports. Robert W. Baird reissued a “buy” rating and issued a $68.00 price objective on shares of Brunswick Corporation in a research note on Friday, September 8th. BMO Capital Markets lowered their price objective on Brunswick Corporation from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. KeyCorp reaffirmed an “overweight” rating and issued a $62.00 target price on shares of Brunswick Corporation in a report on Wednesday, August 30th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Brunswick Corporation in a report on Tuesday, October 3rd. Finally, BidaskClub lowered Brunswick Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $65.54.
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Shares of Brunswick Corporation (BC) opened at 57.59 on Tuesday. Brunswick Corporation has a 52-week low of $42.02 and a 52-week high of $63.82. The stock has a market cap of $5.11 billion, a P/E ratio of 18.27 and a beta of 1.85. The firm’s 50 day moving average price is $54.81 and its 200 day moving average price is $57.26.
Brunswick Corporation (NYSE:BC) last issued its earnings results on Thursday, July 27th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.02. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. Brunswick Corporation’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.17 earnings per share. On average, analysts expect that Brunswick Corporation will post $4.04 EPS for the current year.
Brunswick Corporation Company Profile
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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