Kornitzer Capital Management Inc. KS reduced its position in Brunswick Co. (NYSE:BC) by 0.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 48,940 shares of the company’s stock after selling 385 shares during the period. Kornitzer Capital Management Inc. KS owned 0.06% of Brunswick worth $2,551,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in BC. WINTON GROUP Ltd bought a new stake in shares of Brunswick during the second quarter valued at about $2,175,000. Xact Kapitalforvaltning AB increased its position in shares of Brunswick by 30.6% during the second quarter. Xact Kapitalforvaltning AB now owns 8,100 shares of the company’s stock valued at $372,000 after buying an additional 1,900 shares during the period. AdvisorNet Financial Inc increased its position in shares of Brunswick by 63.4% during the second quarter. AdvisorNet Financial Inc now owns 1,546 shares of the company’s stock valued at $71,000 after buying an additional 600 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Brunswick by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 35,033 shares of the company’s stock valued at $1,608,000 after buying an additional 497 shares during the period. Finally, Bank of Edwardsville increased its position in shares of Brunswick by 3.9% during the second quarter. Bank of Edwardsville now owns 8,007 shares of the company’s stock valued at $367,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.
Several brokerages have recently weighed in on BC. Citigroup decreased their price target on Brunswick from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Royal Bank of Canada set a $58.00 price objective on shares of Brunswick and gave the stock a “hold” rating in a research report on Friday, October 25th. Wedbush upped their price objective on shares of Brunswick from $60.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Longbow Research cut shares of Brunswick from a “buy” rating to a “neutral” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets decreased their price objective on shares of Brunswick to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $61.67.
Shares of BC stock traded down $0.07 during trading on Friday, hitting $60.84. The company had a trading volume of 500,925 shares, compared to its average volume of 1,080,720. The company has a quick ratio of 0.98, a current ratio of 1.87 and a debt-to-equity ratio of 0.81. The stock’s 50-day moving average is $54.94 and its two-hundred day moving average is $49.02. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.42 and a beta of 1.72. Brunswick Co. has a 52 week low of $41.02 and a 52 week high of $62.23.
Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.11. The company had revenue of $976.60 million for the quarter, compared to analysts’ expectations of $984.32 million. Brunswick had a negative net margin of 3.32% and a positive return on equity of 25.96%. Brunswick’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 earnings per share. On average, research analysts predict that Brunswick Co. will post 4.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 19th will be paid a $0.24 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.96 annualized dividend and a yield of 1.58%. This is a positive change from Brunswick’s previous quarterly dividend of $0.21. Brunswick’s dividend payout ratio is currently 17.61%.
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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