Prudential Financial Inc. increased its holdings in shares of Brunswick Co. (NYSE:BC) by 18.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 302,059 shares of the company’s stock after buying an additional 48,034 shares during the quarter. Prudential Financial Inc. owned 0.34% of Brunswick worth $17,939,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in BC. Cerebellum GP LLC acquired a new position in Brunswick in the 4th quarter worth about $128,000. Annex Advisory Services LLC acquired a new position in Brunswick in the 4th quarter worth about $238,000. Partnervest Advisory Services LLC acquired a new position in Brunswick in the 1st quarter worth about $238,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Brunswick by 47.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,757 shares of the company’s stock worth $263,000 after purchasing an additional 1,540 shares in the last quarter. Finally, Ramsey Quantitative Systems acquired a new position in Brunswick in the 4th quarter worth about $264,000. Institutional investors and hedge funds own 94.83% of the company’s stock.
A number of equities analysts have issued reports on the company. ValuEngine raised Brunswick from a “hold” rating to a “buy” rating in a report on Tuesday, May 1st. BMO Capital Markets upped their target price on Brunswick to $69.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Imperial Capital reaffirmed an “outperform” rating and issued a $78.00 target price (up previously from $70.00) on shares of Brunswick in a report on Tuesday, March 6th. Northcoast Research set a $64.00 target price on Brunswick and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Citigroup upped their target price on Brunswick from $66.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $69.66.
Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, April 26th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.07. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Brunswick had a return on equity of 23.33% and a net margin of 3.26%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. research analysts predict that Brunswick Co. will post 4.63 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Tuesday, May 22nd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, May 21st. This represents a $0.76 annualized dividend and a dividend yield of 1.21%. Brunswick’s payout ratio is 19.54%.
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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