Wells Fargo & Company MN trimmed its holdings in Brunswick Co. (NYSE:BC) by 38.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,480 shares of the company’s stock after selling 136,178 shares during the quarter. Wells Fargo & Company MN owned about 0.25% of Brunswick worth $9,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in Brunswick by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 855,784 shares of the company’s stock worth $39,750,000 after buying an additional 68,803 shares during the period. Janus Henderson Group PLC acquired a new position in Brunswick during the 1st quarter worth approximately $371,000. Comerica Bank raised its stake in Brunswick by 0.5% during the 1st quarter. Comerica Bank now owns 57,146 shares of the company’s stock worth $2,976,000 after buying an additional 273 shares during the period. Texas Permanent School Fund raised its stake in Brunswick by 4.1% during the 1st quarter. Texas Permanent School Fund now owns 59,091 shares of the company’s stock worth $2,974,000 after buying an additional 2,329 shares during the period. Finally, Nissay Asset Management Corp Japan ADV raised its stake in Brunswick by 15.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 36,609 shares of the company’s stock worth $1,843,000 after buying an additional 4,912 shares during the period. 97.07% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on BC shares. Northcoast Research downgraded Brunswick from a “buy” rating to a “neutral” rating and set a $45.31 price target on the stock. in a research note on Thursday, June 27th. KeyCorp boosted their price objective on Brunswick from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada lowered Brunswick from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $55.00 to $47.00 in a report on Monday, July 1st. ValuEngine raised Brunswick from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered Brunswick from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $61.00 to $46.00 in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $59.59.
Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.45 earnings per share 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 during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the company earned $1.50 earnings per share. Brunswick’s revenue was down 16.9% compared to the same quarter last year. Analysts expect that Brunswick Co. will post 4.23 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.84 annualized dividend and a dividend yield of 1.57%. 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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