State of Tennessee Treasury Department lessened its position in shares of Brunswick Co. (NYSE:BC) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,714 shares of the company’s stock after selling 5,804 shares during the quarter. State of Tennessee Treasury Department owned 0.10% of Brunswick worth $5,167,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Ensign Peak Advisors Inc boosted its stake in shares of Brunswick by 10.7% in the second quarter. Ensign Peak Advisors Inc now owns 73,324 shares of the company’s stock worth $4,694,000 after buying an additional 7,070 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Brunswick by 41.7% in the second quarter. Bank of Montreal Can now owns 7,325 shares of the company’s stock worth $459,000 after buying an additional 2,154 shares during the last quarter. Thomas White International Ltd. purchased a new stake in shares of Brunswick in the second quarter worth about $200,000. AJO LP boosted its stake in shares of Brunswick by 181.8% in the second quarter. AJO LP now owns 556,071 shares of the company’s stock worth $35,593,000 after buying an additional 358,766 shares during the last quarter. Finally, Pegasus Partners Ltd. purchased a new stake in shares of Brunswick in the second quarter worth about $458,000.
A number of equities analysts have commented on BC shares. Raymond James increased their target price on Brunswick from $64.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Zacks Investment Research raised Brunswick from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday, June 16th. TheStreet raised Brunswick from a “d+” rating to a “c” rating in a report on Wednesday, June 3rd. B. Riley reissued a “buy” rating and set a $88.00 target price on shares of Brunswick in a report on Friday, July 31st. Finally, KeyCorp upped their price target on Brunswick from $72.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $62.43.
Shares of Brunswick stock opened at $59.18 on Friday. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 15.57 and a beta of 2.03. Brunswick Co. has a fifty-two week low of $25.22 and a fifty-two week high of $73.99. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.98 and a current ratio of 1.63. The stock has a 50 day moving average of $65.20 and a 200 day moving average of $53.99.
Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.54. The company had revenue of $987.80 million during the quarter, compared to analyst estimates of $801.62 million. Brunswick had a positive return on equity of 23.56% and a negative net margin of 0.84%. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.45 earnings per share. Analysts forecast that Brunswick Co. will post 4.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Tuesday, August 25th will be given a $0.24 dividend. The ex-dividend date is Monday, August 24th. This represents a $0.96 annualized dividend and a yield of 1.62%. Brunswick’s payout ratio is 22.17%.
In related news, VP Randall S. Altman sold 3,746 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $65.06, for a total value of $243,714.76. Following the completion of the transaction, the vice president now directly owns 13,011 shares in the company, valued at $846,495.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.
Brunswick Company Profile
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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