Raymond James Financial Services Advisors Inc. trimmed its stake in Brunswick Co. (NYSE:BC – Get Rating) by 80.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,582 shares of the company’s stock after selling 35,542 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Brunswick were worth $562,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Delta Investment Management LLC purchased a new stake in Brunswick in the third quarter valued at approximately $257,000. Louisiana State Employees Retirement System purchased a new stake in Brunswick in the 3rd quarter valued at $1,296,000. HGK Asset Management Inc. grew its position in Brunswick by 9.3% during the 3rd quarter. HGK Asset Management Inc. now owns 8,472 shares of the company’s stock worth $554,000 after purchasing an additional 720 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Brunswick by 24.6% in the third quarter. Wedge Capital Management L L P NC now owns 534,682 shares of the company’s stock valued at $34,995,000 after purchasing an additional 105,663 shares during the period. Finally, Copeland Capital Management LLC raised its holdings in shares of Brunswick by 0.9% in the third quarter. Copeland Capital Management LLC now owns 667,165 shares of the company’s stock valued at $43,666,000 after buying an additional 6,131 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on BC shares. MKM Partners lowered their price target on Brunswick from $96.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. Raymond James cut their price target on Brunswick from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, October 28th. Truist Financial lifted their price objective on shares of Brunswick from $90.00 to $95.00 in a research report on Friday, January 6th. Royal Bank of Canada cut their price objective on shares of Brunswick from $95.00 to $91.00 and set an “outperform” rating for the company in a research report on Friday, October 28th. Finally, Citigroup decreased their target price on shares of Brunswick from $106.00 to $104.00 in a research report on Friday, October 28th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.00.
Brunswick Price Performance
Brunswick (NYSE:BC – Get Rating) last posted its earnings results on Thursday, October 27th. The company reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.05. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.77 billion. Brunswick had a return on equity of 36.52% and a net margin of 9.56%. Equities analysts anticipate that Brunswick Co. will post 10.01 EPS for the current fiscal year.
Brunswick Corp. engages in the design, manufacture, and marketing of recreational marine products, including marine engines, boats, and parts and accessories for those products. It operates through the following segments: Propulsion, Parts and Accessories, Boat, and Corporate/Other. The Propulsion segment manufactures a full range of outboard, sterndrive, and inboard engines, as well as propulsion-related controls, propellers, and rigging parts and accessories.
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