Smith Asset Management Group LP Sells 710 Shares of Brink's Company (NYSE:BCO)
Smith Asset Management Group LP decreased its position in Brink's Company (NYSE:BCO) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,087 shares of the business services provider’s stock after selling 710 shares during the period. Smith Asset Management Group LP’s holdings in Brink's were worth $3,691,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of BCO. Macquarie Group Ltd. increased its stake in Brink's by 4.4% in the fourth quarter. Macquarie Group Ltd. now owns 89,474 shares of the business services provider’s stock worth $3,691,000 after buying an additional 3,800 shares in the last quarter. Parametrica Management Ltd acquired a new stake in Brink's during the first quarter worth $312,000. Fox Run Management L.L.C. increased its stake in Brink's by 37.1% in the first quarter. Fox Run Management L.L.C. now owns 9,047 shares of the business services provider’s stock worth $484,000 after buying an additional 2,447 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Brink's by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 18,300 shares of the business services provider’s stock worth $978,000 after buying an additional 300 shares in the last quarter. Finally, Columbus Circle Investors acquired a new stake in Brink's during the first quarter worth $24,173,000. Hedge funds and other institutional investors own 89.25% of the company’s stock.
Shares of Brink's Company (NYSE:BCO) opened at 76.05 on Friday. The firm’s 50-day moving average is $71.80 and its 200-day moving average is $60.12. The firm has a market cap of $3.84 billion, a P/E ratio of 45.27 and a beta of 1.71. Brink's Company has a 1-year low of $33.99 and a 1-year high of $81.35.
Brink's (NYSE:BCO) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.18. The firm had revenue of $806 million for the quarter, compared to analysts’ expectations of $730.87 million. Brink's had a return on equity of 13.99% and a net margin of 1.69%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. On average, analysts anticipate that Brink's Company will post $3.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, July 27th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Tuesday, July 25th. Brink's’s payout ratio is 35.71%.
Brink's announced that its board has initiated a stock repurchase program on Monday, May 8th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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BCO has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Brink's from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, May 2nd. Imperial Capital lifted their price target on shares of Brink's from $52.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, May 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $64.00.
In other news, Director Peter A. Feld sold 400,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $63.27, for a total transaction of $25,308,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mcalister C. Marshall II sold 13,500 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $76.96, for a total value of $1,038,960.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,089,725 shares of company stock worth $72,969,347 in the last quarter. Company insiders own 10.40% of the company’s stock.
Brink's Company Profile
The Brink’s Company (Brink’s) is a provider of logistics and security solutions. The Company operates through nine segments: U.S., France, Mexico, Brazil, Canada, Latin America, EMEA, Asia and Payment Services. The Company’s solutions include cash-in-transit (CIT), automated teller machine (ATM) replenishment and maintenance, cash management services, including vault outsourcing, money processing, and intelligent safe services, international transportation of valuables, and payment services.
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