Hsbc Holdings PLC reduced its position in shares of Brunswick Co. (NYSE:BC) by 14.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,619 shares of the company’s stock after selling 13,914 shares during the period. Hsbc Holdings PLC owned about 0.09% of Brunswick worth $5,336,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in BC. Cornerstone Wealth Management LLC bought a new position in Brunswick during the 2nd quarter valued at about $158,000. BNP Paribas Arbitrage SA lifted its holdings in Brunswick by 28.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 20,467 shares of the company’s stock valued at $1,320,000 after purchasing an additional 4,570 shares during the last quarter. Eqis Capital Management Inc. bought a new position in shares of Brunswick in the second quarter worth about $323,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Brunswick in the second quarter worth about $1,517,000. Finally, Sei Investments Co. raised its stake in shares of Brunswick by 13.5% in the second quarter. Sei Investments Co. now owns 113,166 shares of the company’s stock worth $7,296,000 after acquiring an additional 13,426 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.
In other Brunswick news, Director Manuel A. Fernandez purchased 13,235 shares of the stock in a transaction dated Friday, November 30th. The stock was bought at an average price of $53.09 per share, for a total transaction of $702,646.15. Following the transaction, the director now directly owns 109,784 shares in the company, valued at $5,828,432.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John C. Pfeifer sold 5,446 shares of Brunswick stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $66.95, for a total transaction of $364,609.70. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.
Shares of NYSE:BC opened at $49.57 on Friday. Brunswick Co. has a one year low of $48.36 and a one year high of $69.82. The company has a quick ratio of 0.65, a current ratio of 1.26 and a debt-to-equity ratio of 0.57. The company has a market cap of $4.44 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.89 and a beta of 1.82.
Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, October 25th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.19 by $0.09. Brunswick had a net margin of 2.12% and a return on equity of 26.19%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.26 billion. As a group, equities research analysts forecast that Brunswick Co. will post 4.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 20th will be given a dividend of $0.21 per share. This is a boost from Brunswick’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.84 annualized dividend and a dividend yield of 1.69%. Brunswick’s payout ratio is currently 21.59%.
A number of equities analysts have weighed in on the stock. Citigroup dropped their target price on shares of Brunswick from $76.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, November 6th. Wedbush boosted their target price on shares of Brunswick from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, August 13th. They noted that the move was a valuation call. ValuEngine downgraded shares of Brunswick from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised shares of Brunswick from a “sell” rating to a “hold” rating and set a $69.00 target price for the company in a research note on Monday, October 15th. Finally, TheStreet downgraded shares of Brunswick from a “b” rating to a “c+” rating in a research note on Thursday, October 25th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Brunswick has a consensus rating of “Buy” and an average target price of $72.00.
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, service parts, and lubricants; and diesel propulsion systems to the recreational and commercial marine markets.
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