Virginia Retirement Systems ET AL Sells 11,100 Shares of Brunswick Co. (NYSE:BC)
Virginia Retirement Systems ET AL decreased its holdings in shares of Brunswick Co. (NYSE:BC) by 40.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,100 shares of the company’s stock after selling 11,100 shares during the period. Virginia Retirement Systems ET AL’s holdings in Brunswick were worth $739,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BC. Fernwood Investment Management LLC grew its holdings in shares of Brunswick by 17.0% during the 1st quarter. Fernwood Investment Management LLC now owns 15,125 shares of the company’s stock worth $761,000 after acquiring an additional 2,200 shares during the period. Rehmann Capital Advisory Group grew its stake in shares of Brunswick by 25.7% in the 1st quarter. Rehmann Capital Advisory Group now owns 2,722 shares of the company’s stock worth $137,000 after buying an additional 556 shares during the last quarter. MARSHALL WACE ASIA Ltd grew its stake in shares of Brunswick by 147.5% in the 1st quarter. MARSHALL WACE ASIA Ltd now owns 1,228,921 shares of the company’s stock worth $61,852,000 after buying an additional 732,303 shares during the last quarter. Bailard Inc. purchased a new stake in shares of Brunswick in the 1st quarter worth approximately $413,000. Finally, Gabelli Funds LLC grew its stake in shares of Brunswick by 3.8% in the 1st quarter. Gabelli Funds LLC now owns 108,000 shares of the company’s stock worth $5,436,000 after buying an additional 4,000 shares during the last quarter. 96.65% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on BC. KeyCorp restated an “overweight” rating and issued a $55.00 price target (down previously from $65.00) on shares of Brunswick in a research note on Monday, July 22nd. Longbow Research set a $68.00 price target on Brunswick and gave the stock a “buy” rating in a research note on Friday, April 26th. B. Riley set a $71.00 price target on Brunswick and gave the stock a “buy” rating in a research note on Friday, June 28th. Citigroup cut their price target on Brunswick from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Finally, Wedbush set a $53.00 price target on Brunswick and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Brunswick presently has a consensus rating of “Hold” and a consensus price target of $58.19.
Brunswick (NYSE:BC) last issued its earnings results on Thursday, July 25th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.39 by $0.06. Brunswick had a return on equity of 26.56% and a net margin of 3.10%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the business posted $1.50 EPS. The company’s revenue was down 16.9% compared to the same quarter last year. Equities analysts expect that Brunswick Co. will post 4.22 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, August 19th. This represents a $0.84 annualized dividend and a yield of 1.80%. Brunswick’s dividend payout ratio is 17.61%.
Brunswick Company Profile
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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