Brunswick (NYSE:BC) Shares Down 7.6%

Brunswick Co. (NYSE:BC) dropped 7.6% during trading on Thursday . The company traded as low as $79.09 and last traded at $79.61. Approximately 604,486 shares changed 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.

Analyst Ratings Changes

BC has been the topic of a number of recent research reports. BNP Paribas restated a “neutral” rating and issued a $82.00 price objective (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Truist Financial dropped their price objective on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Raymond James lowered shares of Brunswick from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 4th. Stifel Nicolaus lifted their price objective on shares of Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, DA Davidson restated a “neutral” rating and issued a $77.00 price objective on shares of Brunswick in a research note on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.08.

Brunswick Trading Down 7.1 %

The stock has a market cap of $5.50 billion, a PE ratio of 13.44 and a beta of 1.56. The business’s fifty day moving average is $89.29 and its 200 day moving average is $84.80. The company has a quick ratio of 0.59, a current ratio of 1.43 and a debt-to-equity ratio of 0.95.

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

Brunswick Increases Dividend

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

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Securities Inc. acquired a new stake in shares of Brunswick during the fourth quarter worth $28,000. Johnson Financial Group Inc. acquired a new stake in shares of Brunswick during the fourth quarter worth $30,000. Valley National Advisers Inc. acquired a new stake in shares of Brunswick during the third quarter worth $25,000. Rise Advisors LLC raised its holdings in shares of Brunswick by 249.5% during the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after purchasing an additional 232 shares during the period. Finally, SRS Capital Advisors Inc. increased its stake in Brunswick by 347.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock valued at $42,000 after buying an additional 337 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

About Brunswick

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.