129,810 Shares in Brunswick Co. (BC) Acquired by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. bought a new position in shares of Brunswick Co. (NYSE:BC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 129,810 shares of the company’s stock, valued at approximately $7,264,000. Cornerstone Capital Management Holdings LLC. owned about 0.15% of Brunswick at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in BC. Advisors Asset Management Inc. purchased a new position in shares of Brunswick during the second quarter valued at $134,000. Bronfman E.L. Rothschild L.P. increased its stake in shares of Brunswick by 149.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,550 shares of the company’s stock valued at $160,000 after buying an additional 1,529 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Brunswick by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,217 shares of the company’s stock valued at $202,000 after buying an additional 280 shares during the period. Advisor Group Inc. increased its stake in shares of Brunswick by 2.7% during the second quarter. Advisor Group Inc. now owns 3,306 shares of the company’s stock valued at $202,000 after buying an additional 87 shares during the period. Finally, Pitcairn Co. purchased a new position in shares of Brunswick during the second quarter valued at $213,000. Institutional investors and hedge funds own 92.66% of the company’s stock.
Brunswick Co. (NYSE BC) opened at $55.59 on Thursday. Brunswick Co. has a 52 week low of $48.04 and a 52 week high of $63.82. The company has a quick ratio of 0.95, a current ratio of 1.81 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $4,820.31, a PE ratio of 14.58, a price-to-earnings-growth ratio of 0.88 and a beta of 1.90.
Brunswick (NYSE:BC) last posted its earnings results on Thursday, October 26th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.09). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Brunswick had a net margin of 5.93% and a return on equity of 22.71%. Brunswick’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. equities research analysts expect that Brunswick Co. will post 3.85 EPS for the current fiscal year.
The firm 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 annualized dividend and a yield of 1.37%. The ex-dividend date is Monday, November 20th. This is an increase from Brunswick’s previous quarterly dividend of $0.17. Brunswick’s dividend payout ratio (DPR) is currently 24.52%.
Several brokerages have recently commented on BC. B. Riley set a $70.00 price target on Brunswick and gave the company a “buy” rating in a research note on Monday, October 23rd. Zacks Investment Research upgraded Brunswick from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. BMO Capital Markets reiterated a “buy” rating and issued a $68.00 target price on shares of Brunswick in a research note on Friday, October 13th. Royal Bank of Canada reiterated a “buy” rating on shares of Brunswick in a research note on Tuesday, October 3rd. Finally, ValuEngine upgraded Brunswick from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $62.86.
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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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