Nordea Investment Management AB, an institutional investor, has recently reduced its position in shares of Brunswick Co. (NYSE:BC) by 1.7% during the second quarter of this year. This information was disclosed in their most recent 13F filing with the Securities and Exchange Commission. After selling 1,739 shares, Nordea Investment Management AB now owns 99,697 shares of the company’s stock. At the end of the previous quarter, these shares were valued at $8,584,000, representing approximately 0.14% ownership stake in Brunswick.
In addition to this development, Brunswick Co. made an announcement regarding its quarterly dividend payment on September 15th. Shareholders who were recorded as investors on August 23rd were issued a dividend of $0.40 per share. This translates to an annualized dividend of $1.60 per share and a yield of 2.07%. The ex-dividend date for this dividend was on August 22nd.
Currently, Brunswick’s dividend payout ratio (DPR) stands at 21.02%, indicating the proportion of earnings paid out as dividends relative to its net income.
Overall, these recent events reflect some fluctuations within Brunswick’s shareholder base and highlight its commitment to rewarding shareholders through dividend payments.
Please note that this article is purely informational and should not be considered as financial advice. Investors are encouraged to conduct thorough research and seek professional guidance before making any investment decisions.
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Brunswick Co. Attracts Major Investors and Experiences Stock Value Surge
September 20, 2023
Large Investors Show Interest in Brunswick as Stock Value Surges
Brunswick Co. (NYSE: BC) has recently attracted the attention of several large investors, leading to an increase in the company’s stock value. CI Investments Inc., Sigma Planning Corp, Vanguard Personalized Indexing Management LLC, Natixis Advisors L.P., and Envestnet Asset Management Inc. have all made significant investments in Brunswick, indicating their confidence in the company’s growth potential.
CI Investments Inc. grew its position by 16.0% during the fourth quarter and now owns 1,337 shares of Brunswick’s stock valued at $96,000 after purchasing an additional 184 shares. Similarly, Sigma Planning Corp purchased a new stake in the first quarter valued at approximately $772,000.
Vanguard Personalized Indexing Management LLC increased its position by 13.8% during the fourth quarter, bringing its total ownership to 11,278 shares valued at $813,000 after purchasing an additional 1,370 shares. Meanwhile, Natixis Advisors L.P. grew its position by 2.3% during the first quarter and now owns 25,298 shares valued at $2,074,000 after purchasing an additional 577 shares.
Envestnet Asset Management Inc., which grew its position by 13.6% during the first quarter, owns the largest number of Brunswick shares among these investors with a total of 109,161 shares valued at $8,951,000 after purchasing an additional 13,065 shares.
It is worth noting that hedge funds and other institutional investors currently own around 94.44% of Brunswick’s stock. This suggests a high level of interest from sophisticated investors who are known for their ability to identify profitable investment opportunities.
Equities research analysts have also been monitoring Brunswick closely and have issued reports on the company’s performance. Jefferies Financial Group has given the company a “buy” rating, dropping their price target from $94.00 to $93.00. BMO Capital Markets has also given an “outperform” rating, decreasing their price objective from $122.00 to $105.00.
However, JPMorgan Chase & Co. gave a more cautious verdict by downgrading Brunswick from an “overweight” rating to a “neutral” rating and lowering the price objective from $109.00 to $79.00. Stifel Nicolaus echoed this sentiment by decreasing their price objective from $102.00 to $92.00.
In spite of these mixed ratings, Brunswick enjoyed a consensus rating of “Moderate Buy” based on data from Bloomberg.com, along with a consensus target price of $96.57.
As of Wednesday’s trading session, shares of Brunswick opened at $77.29, reflecting the increased investor interest in the company and its recent positive earnings report.
Brunswick reported earnings per share (EPS) of $2.35 for the last quarter, surpassing analysts’ expectations by $0.03. The company generated revenue of $1.70 billion during the same period, slightly lower than analysts’ forecast of $1.75 billion.
While the company’s revenue for the quarter was down 7.3% compared to the previous year, Brunswick demonstrated a return on equity of 33.86% and a net margin of 8.21%. With analysts predicting an EPS of 9.5 for the current fiscal year, there is optimism regarding Brunswick’s future financial performance.
With its market cap standing at approximately $5.47 billion and a P/E ratio of 10.16, Brunswick faces an encouraging landscape moving forward despite some challenges faced over the past year.
In conclusion, as large investors continue to buy shares in Brunswick and equities research analysts maintain favorable ratings for the company, it appears that the company is well-positioned for growth. While challenges persist in the market, Brunswick’s recent financial performance indicates potential for future success.
Reference:
– Bloomberg.com
