Brunswick (NYSE:BC) Shares Down 7.6%

Shares of Brunswick Co. (NYSE:BC) were down 7.6% on Thursday . The stock traded as low as $79.09 and last traded at $79.61. Approximately 604,486 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 739,566 shares. The stock had previously closed at $86.13.

Wall Street Analyst Weigh In

BC has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their target price on Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. B. Riley raised Brunswick from a “neutral” rating to a “buy” rating and boosted their target price for the company from $100.00 to $108.00 in a research report on Tuesday, February 20th. Roth Mkm reaffirmed a “buy” rating and issued a $94.00 target price on shares of Brunswick in a research report on Thursday. DA Davidson reissued a “neutral” rating and set a $77.00 price objective on shares of Brunswick in a report on Friday, March 15th. Finally, Truist Financial decreased their price objective on Brunswick from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Brunswick presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.08.

Brunswick Stock Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 0.59. The company has a 50 day simple moving average of $89.29 and a 200-day simple moving average of $84.80. The stock has a market cap of $5.50 billion, a P/E ratio of 13.44 and a beta of 1.56.

Brunswick (NYSE:BC) last released its earnings results on Thursday, February 1st. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.21). Brunswick had a net margin of 6.57% and a return on equity of 29.78%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the firm posted $1.99 EPS. The company’s revenue was down 14.0% on a year-over-year basis. On average, equities analysts expect that Brunswick Co. will post 7.5 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Friday, February 23rd. This is an increase from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s payout ratio is currently 28.24%.

Insider Activity at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the transaction, the vice president now owns 35,176 shares in the company, valued at approximately $2,973,427.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the sale, the vice president now owns 35,176 shares in the company, valued at approximately $2,973,427.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $87.11, for a total value of $3,048,850.00. Following the completion of the sale, the chief executive officer now owns 272,626 shares in the company, valued at approximately $23,748,450.86. The disclosure for this sale can be found here. Insiders have sold a total of 52,696 shares of company stock worth $4,574,199 in the last 90 days. Company insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Brunswick

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BC. Raymond James Trust N.A. lifted its holdings in shares of Brunswick by 4.4% during the 4th quarter. Raymond James Trust N.A. now owns 2,863 shares of the company’s stock valued at $277,000 after buying an additional 120 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of Brunswick by 4.3% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,645 shares of the company’s stock valued at $288,000 after buying an additional 149 shares during the period. Wrapmanager Inc. lifted its holdings in shares of Brunswick by 5.6% during the 3rd quarter. Wrapmanager Inc. now owns 2,806 shares of the company’s stock valued at $222,000 after buying an additional 149 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Brunswick by 2.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,488 shares of the company’s stock valued at $434,000 after buying an additional 155 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Brunswick by 17.9% during the 3rd quarter. Fifth Third Bancorp now owns 1,042 shares of the company’s stock valued at $82,000 after buying an additional 158 shares during the period. 99.34% of the stock is owned by institutional investors.

Brunswick Company 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.