Comerica Bank Cuts Holdings in Brunswick Corporation (BC)

Comerica Bank lowered its holdings in shares of Brunswick Corporation (NYSE:BC) by 17.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,612 shares of the company’s stock after selling 23,192 shares during the period. Comerica Bank owned about 0.13% of Brunswick Corporation worth $5,596,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eagle Asset Management Inc. raised its position in shares of Brunswick Corporation by 27.0% in the second quarter. Eagle Asset Management Inc. now owns 628,565 shares of the company’s stock valued at $39,429,000 after buying an additional 133,452 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of Brunswick Corporation by 17.1% in the second quarter. TimesSquare Capital Management LLC now owns 1,950,700 shares of the company’s stock valued at $122,367,000 after buying an additional 284,300 shares during the last quarter. Kempen Capital Management N.V. raised its position in shares of Brunswick Corporation by 60.8% in the second quarter. Kempen Capital Management N.V. now owns 46,077 shares of the company’s stock valued at $2,890,000 after buying an additional 17,423 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Brunswick Corporation by 7.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 509,208 shares of the company’s stock valued at $31,943,000 after purchasing an additional 35,081 shares during the period. Finally, Clinton Group Inc. grew its holdings in Brunswick Corporation by 50.3% in the second quarter. Clinton Group Inc. now owns 11,983 shares of the company’s stock valued at $752,000 after purchasing an additional 4,012 shares during the period. Institutional investors own 89.12% of the company’s stock.

Shares of Brunswick Corporation (NYSE:BC) opened at $52.50 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.81. Brunswick Corporation has a 52 week low of $47.47 and a 52 week high of $63.82. The company has a market cap of $4,600.00, a PE ratio of 13.70, a price-to-earnings-growth ratio of 0.82 and a beta of 1.87.

Brunswick Corporation (NYSE:BC) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.09). Brunswick Corporation had a net margin of 5.93% and a return on equity of 22.71%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company posted $0.91 earnings per share. Brunswick Corporation’s quarterly revenue was up 4.4% compared to the same quarter last year. equities research analysts predict that Brunswick Corporation will post 3.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 21st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, November 20th. This is a positive change from Brunswick Corporation’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.45%. Brunswick Corporation’s dividend payout ratio is currently 24.44%.

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Several research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Brunswick Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. B. Riley restated a “buy” rating and issued a $70.00 target price on shares of Brunswick Corporation in a research note on Wednesday, August 2nd. Northcoast Research raised shares of Brunswick Corporation from a “neutral” rating to a “buy” rating in a report on Friday, November 3rd. Royal Bank Of Canada cut their price target on shares of Brunswick Corporation from $67.00 to $56.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Finally, BMO Capital Markets cut their price target on shares of Brunswick Corporation from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $62.50.

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.

Institutional Ownership by Quarter for Brunswick Corporation (NYSE:BC)

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