Cubist Systematic Strategies LLC Has $240,000 Stake in Brunswick Corporation (BC)
Cubist Systematic Strategies LLC cut its stake in Brunswick Corporation (NYSE:BC) by 37.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,829 shares of the company’s stock after selling 2,341 shares during the period. Cubist Systematic Strategies LLC’s holdings in Brunswick Corporation were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of the company. Boston Partners grew its position in shares of Brunswick Corporation by 3.8% in the second quarter. Boston Partners now owns 9,306,042 shares of the company’s stock valued at $583,768,000 after purchasing an additional 338,212 shares in the last quarter. BlackRock Inc. grew its position in shares of Brunswick Corporation by 0.9% in the second quarter. BlackRock Inc. now owns 7,553,692 shares of the company’s stock valued at $473,842,000 after purchasing an additional 65,605 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Brunswick Corporation by 1.1% in the second quarter. Vanguard Group Inc. now owns 7,234,542 shares of the company’s stock valued at $453,822,000 after purchasing an additional 76,262 shares in the last quarter. TimesSquare Capital Management LLC grew 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 purchasing an additional 284,300 shares in the last quarter. Finally, AJO LP grew its position in shares of Brunswick Corporation by 1,548.4% in the second quarter. AJO LP now owns 1,538,793 shares of the company’s stock valued at $96,528,000 after purchasing an additional 1,445,444 shares in the last quarter. Institutional investors and hedge funds own 93.65% of the company’s stock.
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Brunswick Corporation (NYSE:BC) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.09). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.16 billion. Brunswick Corporation had a net margin of 5.93% and a return on equity of 22.71%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 21st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Monday, November 20th. This is a positive change from Brunswick Corporation’s previous quarterly dividend of $0.17. Brunswick Corporation’s dividend payout ratio (DPR) is 21.29%.
A number of equities research analysts have recently issued reports on the company. Jefferies Group LLC restated a “hold” rating and issued a $56.00 price target on shares of Brunswick Corporation in a research report on Friday, July 14th. Stifel Nicolaus upped their price target on Brunswick Corporation from $66.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 14th. BMO Capital Markets restated a “buy” rating and issued a $72.00 price target on shares of Brunswick Corporation in a research report on Thursday, July 13th. BidaskClub upgraded Brunswick Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Finally, Northcoast Research cut Brunswick Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 10th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $63.29.
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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