Verition Fund Management LLC Raises Stake in Brunswick Co. (NYSE:BC)

Verition Fund Management LLC raised its position in shares of Brunswick Co. (NYSE:BCGet Rating) by 258.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,162 shares of the company’s stock after purchasing an additional 7,324 shares during the quarter. Verition Fund Management LLC’s holdings in Brunswick were worth $822,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BC. Turtle Creek Asset Management Inc. lifted its holdings in shares of Brunswick by 2,164.5% in the first quarter. Turtle Creek Asset Management Inc. now owns 1,022,400 shares of the company’s stock worth $82,702,000 after buying an additional 977,250 shares in the last quarter. Cannell & Co. purchased a new position in shares of Brunswick in the first quarter worth $39,192,000. American Century Companies Inc. lifted its holdings in shares of Brunswick by 22.8% in the first quarter. American Century Companies Inc. now owns 2,000,325 shares of the company’s stock worth $161,807,000 after buying an additional 371,973 shares in the last quarter. Zurich Insurance Group Ltd FI lifted its holdings in shares of Brunswick by 148.0% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 580,540 shares of the company’s stock worth $58,478,000 after buying an additional 346,444 shares in the last quarter. Finally, Cantillon Capital Management LLC lifted its holdings in shares of Brunswick by 8.1% in the first quarter. Cantillon Capital Management LLC now owns 4,122,800 shares of the company’s stock worth $333,493,000 after buying an additional 309,881 shares in the last quarter. Hedge funds and other institutional investors own 93.32% of the company’s stock.

Brunswick Trading Down 1.1 %

BC stock opened at $71.42 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.99 and a debt-to-equity ratio of 1.25. Brunswick Co. has a twelve month low of $61.89 and a twelve month high of $103.93. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 8.96 and a beta of 1.61. The firm’s fifty day simple moving average is $77.07 and its two-hundred day simple moving average is $76.42.

Brunswick (NYSE:BCGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.12. Brunswick had a net margin of 9.64% and a return on equity of 35.33%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the business posted $2.52 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year. As a group, analysts anticipate that Brunswick Co. will post 10.26 earnings per share for the current year.

Brunswick Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 24th were given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Tuesday, August 23rd. Brunswick’s dividend payout ratio (DPR) is 18.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. B. Riley lowered their target price on shares of Brunswick from $120.00 to $101.00 and set a “buy” rating on the stock in a report on Tuesday, June 21st. MKM Partners assumed coverage on shares of Brunswick in a report on Wednesday, July 13th. They issued a “buy” rating and a $96.00 target price on the stock. StockNews.com raised shares of Brunswick from a “hold” rating to a “buy” rating in a report on Friday, August 5th. JPMorgan Chase & Co. reduced their price target on shares of Brunswick from $117.00 to $115.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 21st. Finally, Jefferies Financial Group cut shares of Brunswick from a “buy” rating to a “hold” rating and boosted their price target for the stock from $90.00 to $110.00 in a research report on Wednesday, August 10th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.08.

About Brunswick

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Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through Propulsion; Parts & Accessories; and Boat segments. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.

See Also

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Institutional Ownership by Quarter for Brunswick (NYSE:BC)

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