Victory Capital Management Inc. Sells 57,184 Shares of Brink's Company (The) $BCO

Key Points

• Victory Capital Management reduced its stake in Brink's by 8.1%, selling 57,184 shares in Q3 and now holds 648,289 shares (about 1.56% of the company) worth roughly $75.76 million.
• Brink's reported an earnings beat with EPS $2.54 vs. $2.47 and revenue of $1.38 billion (+9.1% YoY), and its board authorized a $750 million share buyback (up to 15.4% of shares).
• Analysts have been raising targets—Truist to $163 and Goldman Sachs to $145—leaving Brink's with a consensus Moderate Buy rating and an average price target of $154.

Victory Capital Management Inc. lowered its position in shares of Brink's Company (The) (NYSE:BCO - Free Report) by 8.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 648,289 shares of the business services provider's stock after selling 57,184 shares during the quarter. Victory Capital Management Inc. owned 1.56% of Brink's worth $75,759,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. 111 Capital purchased a new stake in Brink's during the third quarter worth about $369,000. Quantbot Technologies LP boosted its stake in Brink's by 715.7% in the third quarter. Quantbot Technologies LP now owns 16,305 shares of the business services provider's stock valued at $1,905,000 after acquiring an additional 14,306 shares during the last quarter. R Squared Ltd bought a new position in shares of Brink's during the 3rd quarter valued at approximately $285,000. Choreo LLC increased its stake in shares of Brink's by 68.4% during the 3rd quarter. Choreo LLC now owns 8,430 shares of the business services provider's stock worth $985,000 after purchasing an additional 3,424 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Brink's in the 3rd quarter worth approximately $804,000. 94.96% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Michael E. Sweeney sold 1,418 shares of the company's stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $119.50, for a total value of $169,451.00. Following the transaction, the insider directly owned 5,755 shares in the company, valued at approximately $687,722.50. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Truist Financial raised their target price on Brink's from $138.00 to $163.00 and gave the stock a "buy" rating in a research report on Tuesday, February 10th. The Goldman Sachs Group lifted their price objective on Brink's from $129.00 to $145.00 and gave the stock a "buy" rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $154.00.

Brink's Stock Performance

NYSE:BCO opened at $123.02 on Friday. Brink's Company has a 52-week low of $80.10 and a 52-week high of $136.37. The business's fifty day moving average is $125.44 and its 200 day moving average is $118.03. The company has a debt-to-equity ratio of 9.35, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 26.23 and a beta of 1.09.

Brink's (NYSE:BCO - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.07. Brink's had a net margin of 3.80% and a return on equity of 89.90%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the firm posted $2.12 earnings per share. The company's revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts predict that Brink's Company will post 6.49 EPS for the current year.

Brink's announced that its board has initiated a share repurchase program on Thursday, December 11th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the business services provider to purchase up to 15.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Brink's Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd were issued a $0.255 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.02 annualized dividend and a dividend yield of 0.8%. Brink's's dividend payout ratio (DPR) is presently 21.75%.

Brink's Company Profile

The Brink's Company NYSE: BCO is a global leader in secure logistics and cash management solutions. The company provides a comprehensive suite of services that span armored transportation, cash-in-transit (CIT), ATM services, smart safe solutions, and valuables storage. Through its network of service centers and armored vehicles, Brink's ensures the safe and efficient movement of currency, precious metals, and other high-value assets for banks, retailers, mints, and government agencies.

Brink's armored transport operations are complemented by technology-driven cash management offerings, including deposit automation and secure vaulting.

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