River & Mercantile Asset Management LLP bought a new position in shares of Brunswick Co. (NYSE:BC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,886 shares of the company’s stock, valued at approximately $178,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Brunswick by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 7,881,163 shares of the company’s stock worth $361,667,000 after acquiring an additional 93,178 shares during the period. JPMorgan Chase & Co. raised its stake in Brunswick by 6.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,218,425 shares of the company’s stock worth $142,867,000 after acquiring an additional 198,288 shares during the period. FMR LLC raised its position in shares of Brunswick by 45.0% during the first quarter. FMR LLC now owns 3,012,240 shares of the company’s stock valued at $151,605,000 after buying an additional 934,679 shares during the last quarter. Cantillon Capital Management LLC bought a new stake in shares of Brunswick during the second quarter valued at approximately $111,724,000. Finally, Schroder Investment Management Group raised its position in shares of Brunswick by 7.3% during the second quarter. Schroder Investment Management Group now owns 2,094,683 shares of the company’s stock valued at $96,125,000 after buying an additional 142,175 shares during the last quarter. Institutional investors own 96.50% of the company’s stock.
Shares of NYSE:BC opened at $53.42 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.98 and a debt-to-equity ratio of 0.85. Brunswick Co. has a 52-week low of $41.02 and a 52-week high of $62.32. The stock’s fifty day simple moving average is $50.08 and its 200-day simple moving average is $48.21. The company has a market capitalization of $4.58 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.21 and a beta of 1.72.
Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.06. Brunswick had a return on equity of 26.56% and a net margin of 3.10%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the business earned $1.50 earnings per share. The business’s revenue was down 16.9% on a year-over-year basis. On average, sell-side analysts anticipate that Brunswick Co. will post 4.23 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 20th were given a $0.21 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.84 annualized dividend and a dividend yield of 1.57%. Brunswick’s dividend payout ratio is currently 17.61%.
In other news, CFO William Metzger sold 15,517 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $53.77, for a total value of $834,349.09. The sale was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is owned by corporate insiders.
A number of brokerages recently commented on BC. JPMorgan Chase & Co. cut Brunswick from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $61.00 to $46.00 in a report on Monday, July 22nd. BMO Capital Markets decreased their target price on Brunswick to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Northcoast Research downgraded Brunswick from a “buy” rating to a “neutral” rating and set a $45.31 target price on the stock. in a research report on Thursday, June 27th. Wedbush reiterated an “outperform” rating and set a $60.00 target price (up from $53.00) on shares of Brunswick in a research report on Thursday, September 12th. They noted that the move was a valuation call. Finally, B. Riley set a $74.00 target price on Brunswick and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Brunswick currently has a consensus rating of “Buy” and a consensus target price of $58.74.
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.
Further Reading: Cash Asset Ratio
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