Brink's Company (The) $BCO Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its holdings in Brink's Company by 30.6% in the first quarter, bringing its stake to 9,128 shares valued at $787,000.
• Brink's reported $1.79 earnings per share, exceeding analysts' expectations of $1.43, with a year-over-year revenue increase of 3.8%.
• Wall Street analysts upgraded Brink's rating from a "hold" to a "strong-buy," setting a consensus target price of $138.00.

Hsbc Holdings PLC trimmed its position in shares of Brink's Company (The) (NYSE:BCO - Free Report) by 30.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,128 shares of the business services provider's stock after selling 4,028 shares during the quarter. Hsbc Holdings PLC's holdings in Brink's were worth $787,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BCO. Ariel Investments LLC raised its position in shares of Brink's by 12.3% in the 4th quarter. Ariel Investments LLC now owns 1,282,104 shares of the business services provider's stock valued at $118,941,000 after purchasing an additional 140,895 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Brink's by 210.0% in the 4th quarter. Ameriprise Financial Inc. now owns 198,656 shares of the business services provider's stock valued at $18,429,000 after purchasing an additional 134,582 shares during the last quarter. Nuveen LLC purchased a new position in shares of Brink's in the 1st quarter valued at approximately $9,929,000. Balyasny Asset Management L.P. raised its position in shares of Brink's by 24.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 481,115 shares of the business services provider's stock valued at $44,633,000 after purchasing an additional 95,318 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Brink's by 9,914.9% in the 1st quarter. GAMMA Investing LLC now owns 93,139 shares of the business services provider's stock valued at $8,025,000 after purchasing an additional 92,209 shares during the last quarter. 94.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Brink's from a "hold" rating to a "strong-buy" rating in a research report on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $138.00.

Insider Buying and Selling at Brink's

In other news, insider Michael E. Sweeney sold 1,314 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $99.05, for a total transaction of $130,151.70. Following the sale, the insider owned 10,326 shares of the company's stock, valued at $1,022,790.30. This trade represents a 11.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel J. Castillo sold 21,700 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $109.70, for a total transaction of $2,380,490.00. Following the sale, the executive vice president directly owned 22,188 shares in the company, valued at $2,434,023.60. The trade was a 49.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,058 shares of company stock valued at $2,946,513. 0.72% of the stock is owned by corporate insiders.

Brink's Stock Performance

BCO traded down $0.89 during trading on Wednesday, reaching $112.44. 418,139 shares of the company's stock were exchanged, compared to its average volume of 316,642. Brink's Company has a 1 year low of $80.10 and a 1 year high of $115.91. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $4.68 billion, a P/E ratio of 30.39 and a beta of 1.48. The company's fifty day simple moving average is $99.03 and its 200-day simple moving average is $91.49.

Brink's (NYSE:BCO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.36. Brink's had a net margin of 3.21% and a return on equity of 86.86%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the firm posted $1.67 EPS. Brink's's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts predict that Brink's Company will post 6.49 earnings per share for the current fiscal year.

Brink's Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, July 28th were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, July 28th. This represents a $1.02 dividend on an annualized basis and a yield of 0.9%. Brink's's dividend payout ratio (DPR) is currently 27.57%.

Brink's Profile

The Brink's Co engages in providing cash management services, digital retail solutions, and ATM managed services. It operates through the following geographical segments: North America, Latin America, Europe, and Rest of World. The North America segment operates in the U.S. and Canada. The Latin America segment refers to the operations in Latin American countries.