Cubist Systematic Strategies LLC lifted its position in Brunswick Co. (NYSE:BC) by 1,345.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,330 shares of the company’s stock after buying an additional 51,501 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.06% of Brunswick worth $3,097,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Eagle Asset Management Inc. grew its stake in shares of Brunswick by 27.0% in the 2nd 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 in the last quarter. TimesSquare Capital Management LLC boosted its position in Brunswick by 17.1% during the second quarter. TimesSquare Capital Management LLC now owns 1,950,700 shares of the company’s stock worth $122,367,000 after purchasing an additional 284,300 shares during the period. Kempen Capital Management N.V. boosted its position in Brunswick by 60.8% during the second quarter. Kempen Capital Management N.V. now owns 46,077 shares of the company’s stock worth $2,890,000 after purchasing an additional 17,423 shares during the period. Advisor Group Inc. boosted its position in Brunswick by 108.6% during the third quarter. Advisor Group Inc. now owns 6,896 shares of the company’s stock worth $386,000 after purchasing an additional 3,590 shares during the period. Finally, Prudential Financial Inc. boosted its position in Brunswick by 106.9% during the third quarter. Prudential Financial Inc. now owns 589,175 shares of the company’s stock worth $32,976,000 after purchasing an additional 304,470 shares during the period. 92.66% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the company. Aegis reaffirmed a “buy” rating and set a $73.00 target price on shares of Brunswick in a research report on Thursday, August 17th. ValuEngine cut Brunswick from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Imperial Capital upped their target price on Brunswick to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday. They noted that the move was a valuation call. B. Riley set a $65.00 target price on Brunswick and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 target price on shares of Brunswick in a research report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Brunswick currently has an average rating of “Buy” and a consensus price target of $62.86.
Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.09). Brunswick had a return on equity of 22.71% and a net margin of 5.93%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. equities research analysts anticipate that Brunswick Co. will post 3.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 21st will be issued 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’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.38%. Brunswick’s payout ratio is 24.52%.
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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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