ProShare Advisors LLC trimmed its position in Brunswick Corporation (NYSE:BC) by 16.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,603 shares of the company’s stock after selling 1,289 shares during the period. ProShare Advisors LLC’s holdings in Brunswick Corporation were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in BC. BlackRock Inc. boosted its stake in Brunswick Corporation by 8,617.9% in the first quarter. BlackRock Inc. now owns 7,488,087 shares of the company’s stock valued at $458,271,000 after acquiring an additional 7,402,194 shares in the last quarter. AJO LP boosted its stake in 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 acquiring an additional 1,445,444 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Brunswick Corporation in the second quarter valued at approximately $42,936,000. Morgan Stanley boosted its stake in Brunswick Corporation by 97.3% in the first quarter. Morgan Stanley now owns 1,236,123 shares of the company’s stock valued at $75,651,000 after acquiring an additional 609,752 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Brunswick Corporation by 6.8% in the first quarter. Vanguard Group Inc. now owns 7,158,280 shares of the company’s stock valued at $438,086,000 after acquiring an additional 457,104 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.
In other news, Chairman Mark D. Schwabero sold 2,738 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $63.72, for a total value of $174,465.36. Following the completion of the transaction, the chairman now owns 219,783 shares in the company, valued at approximately $14,004,572.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.
Shares of Brunswick Corporation (BC) opened at 57.58 on Friday. The stock has a market cap of $5.11 billion, a PE ratio of 18.27 and a beta of 1.85. The stock’s 50 day moving average is $53.91 and its 200-day moving average is $57.43. Brunswick Corporation has a 1-year low of $42.02 and a 1-year high of $63.82.
Brunswick Corporation (NYSE:BC) last announced its quarterly earnings results on Thursday, July 27th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 EPS. On average, analysts predict that Brunswick Corporation will post $4.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 22nd were issued a $0.165 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.15%. Brunswick Corporation’s dividend payout ratio is presently 20.95%.
Several equities research analysts have weighed in on BC shares. BidaskClub downgraded shares of Brunswick Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. B. Riley reiterated a “buy” rating and set a $70.00 price objective on shares of Brunswick Corporation in a research note on Wednesday, August 2nd. BMO Capital Markets lowered their price objective on shares of Brunswick Corporation from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. Zacks Investment Research downgraded shares of Brunswick Corporation from a “hold” rating to a “sell” rating in a research note on Friday, September 29th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 price objective on shares of Brunswick Corporation in a research note on Sunday, June 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $65.54.
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Brunswick Corporation Profile
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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