Victory Capital Management Inc. boosted its stake in shares of Brunswick Corporation (NYSE:BC) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,581,911 shares of the company’s stock after purchasing an additional 146,661 shares during the quarter. Victory Capital Management Inc. owned approximately 1.78% of Brunswick Corporation worth $88,539,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of BC. Advisors Asset Management Inc. purchased a new position in shares of Brunswick Corporation in the 2nd quarter valued at about $134,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Brunswick Corporation by 149.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,550 shares of the company’s stock valued at $160,000 after acquiring an additional 1,529 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Brunswick Corporation by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,217 shares of the company’s stock valued at $202,000 after acquiring an additional 280 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Brunswick Corporation by 2.7% in the 2nd quarter. Advisor Group Inc. now owns 3,306 shares of the company’s stock valued at $202,000 after acquiring an additional 87 shares during the last quarter. Finally, Pitcairn Co. purchased a new position in shares of Brunswick Corporation in the 2nd quarter valued at about $213,000. Institutional investors own 93.65% of the company’s stock.
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A number of research analysts have recently commented on BC shares. Stifel Nicolaus dropped their price objective on Brunswick Corporation from $68.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Robert W. Baird reiterated a “buy” rating and issued a $68.00 price objective on shares of Brunswick Corporation in a report on Friday, September 8th. Zacks Investment Research upgraded Brunswick Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. BMO Capital Markets dropped their price objective on Brunswick Corporation from $68.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Brunswick Corporation in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $63.29.
Brunswick Corporation (NYSE:BC) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.09). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. Brunswick Corporation had a net margin of 5.93% and a return on equity of 22.71%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 21st will be issued a $0.19 dividend. This is a positive change from Brunswick Corporation’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.51%. The ex-dividend date is Monday, November 20th. Brunswick Corporation’s payout ratio is currently 21.29%.
About Brunswick Corporation
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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