Harel Insurance Investments & Financial Services Ltd. decreased its stake in Brunswick Co. (NYSE:BC – Get Rating) by 96.7% in the first quarter, HoldingsChannel reports. The firm owned 500 shares of the company’s stock after selling 14,430 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Brunswick were worth $40,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Personal CFO Solutions LLC boosted its position in Brunswick by 4.9% during the 1st quarter. Personal CFO Solutions LLC now owns 3,559 shares of the company’s stock worth $288,000 after acquiring an additional 165 shares during the period. Keybank National Association OH boosted its position in Brunswick by 32.9% during the 4th quarter. Keybank National Association OH now owns 6,119 shares of the company’s stock worth $616,000 after acquiring an additional 1,514 shares during the period. Van ECK Associates Corp boosted its position in Brunswick by 24.7% during the 4th quarter. Van ECK Associates Corp now owns 2,022 shares of the company’s stock worth $204,000 after acquiring an additional 400 shares during the period. Bridgewater Advisors Inc. acquired a new stake in Brunswick during the 4th quarter worth about $1,387,000. Finally, Taika Capital LP acquired a new stake in Brunswick during the 4th quarter worth about $1,415,000. Institutional investors and hedge funds own 92.75% of the company’s stock.
Brunswick Stock Down 0.5 %
Shares of BC stock opened at $76.64 on Tuesday. The stock’s 50 day simple moving average is $70.31 and its 200 day simple moving average is $80.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.09 and a current ratio of 2.10. Brunswick Co. has a twelve month low of $61.89 and a twelve month high of $108.51. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 9.99 and a beta of 1.56.
Brunswick (NYSE:BC – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $2.53 EPS for the quarter, topping the consensus estimate of $2.33 by $0.20. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.64 billion. Brunswick had a return on equity of 35.51% and a net margin of 9.79%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.24 EPS. As a group, research analysts predict that Brunswick Co. will post 10.16 EPS for the current year.
Brunswick Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 24th will be given a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, August 23rd. Brunswick’s dividend payout ratio is currently 19.04%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on BC shares. KeyCorp set a $85.00 price objective on Brunswick in a research report on Tuesday, July 19th. Citigroup cut their price target on Brunswick from $123.00 to $106.00 and set a “buy” rating for the company in a research note on Tuesday, April 19th. BMO Capital Markets cut their price target on Brunswick from $105.00 to $90.00 in a research note on Monday, May 2nd. JPMorgan Chase & Co. cut their price target on Brunswick from $117.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, June 21st. Finally, Raymond James raised their price target on Brunswick from $121.00 to $123.00 in a research note on Friday, April 29th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Brunswick currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through Propulsion; Parts & Accessories; and Boat segments. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.
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