Bank of America Corp DE Decreases Stock Holdings in Brunswick Co. (NYSE:BC)

Bank of America Corp DE lowered its position in Brunswick Co. (NYSE:BC - Free Report) by 64.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,444 shares of the company's stock after selling 253,982 shares during the quarter. Bank of America Corp DE owned approximately 0.21% of Brunswick worth $8,955,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of Brunswick by 2.9% in the 4th quarter. American Century Companies Inc. now owns 1,462,558 shares of the company's stock valued at $94,599,000 after acquiring an additional 41,583 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Brunswick by 16.7% in the fourth quarter. Bank of New York Mellon Corp now owns 766,509 shares of the company's stock valued at $49,578,000 after purchasing an additional 109,728 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Brunswick in the fourth quarter valued at approximately $2,827,000. Channing Capital Management LLC increased its stake in Brunswick by 10.9% in the fourth quarter. Channing Capital Management LLC now owns 1,025,123 shares of the company's stock valued at $66,305,000 after purchasing an additional 100,412 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Brunswick by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 715,358 shares of the company's stock worth $46,269,000 after purchasing an additional 14,089 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

Brunswick Stock Performance

Brunswick stock traded up $1.13 during mid-day trading on Thursday, reaching $51.41. 1,038,089 shares of the company were exchanged, compared to its average volume of 795,941. The firm's 50-day simple moving average is $48.59 and its two-hundred day simple moving average is $61.26. Brunswick Co. has a twelve month low of $41.00 and a twelve month high of $87.65. The firm has a market cap of $3.38 billion, a PE ratio of 27.06 and a beta of 1.28. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65.

Brunswick (NYSE:BC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.31. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned $1.35 earnings per share. The company's revenue for the quarter was down 10.5% on a year-over-year basis. Equities analysts predict that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, May 19th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.35%. Brunswick's dividend payout ratio (DPR) is 142.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BC shares. Baird R W cut shares of Brunswick from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Robert W. Baird boosted their price target on shares of Brunswick from $56.00 to $60.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. BMO Capital Markets dropped their price objective on Brunswick from $75.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. DA Davidson reiterated a "neutral" rating and set a $43.00 target price (down previously from $64.00) on shares of Brunswick in a research report on Monday, April 28th. Finally, B. Riley raised Brunswick to a "hold" rating in a research report on Wednesday, February 12th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $71.31.

Brunswick Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.