Federated Hermes Inc. Sells 19,179 Shares of Brunswick Co. (NYSE:BC)

Federated Hermes Inc. cut its stake in shares of Brunswick Co. (NYSE:BC) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 802,292 shares of the company’s stock after selling 19,179 shares during the quarter. Federated Hermes Inc. owned approximately 1.15% of Brunswick worth $77,622,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BC. Alps Advisors Inc. boosted its stake in Brunswick by 224.7% in the third quarter. Alps Advisors Inc. now owns 49,446 shares of the company’s stock worth $3,906,000 after purchasing an additional 34,220 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Brunswick by 127.6% in the third quarter. Victory Capital Management Inc. now owns 866,226 shares of the company’s stock valued at $68,432,000 after purchasing an additional 485,588 shares in the last quarter. International Assets Investment Management LLC bought a new position in Brunswick in the 4th quarter worth approximately $20,460,000. Envestnet Asset Management Inc. lifted its holdings in Brunswick by 29.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 144,584 shares of the company’s stock worth $11,422,000 after buying an additional 32,901 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in Brunswick by 10.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 156,596 shares of the company’s stock valued at $12,371,000 after buying an additional 15,042 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Insider Buying and Selling

In other Brunswick news, EVP John G. Buelow sold 2,426 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $87.12, for a total transaction of $211,353.12. Following the completion of the transaction, the executive vice president now owns 14,199 shares in the company, valued at approximately $1,237,016.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO David M. Foulkes sold 35,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the sale, the chief executive officer now owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John G. Buelow sold 2,426 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $87.12, for a total transaction of $211,353.12. Following the completion of the transaction, the executive vice president now directly owns 14,199 shares of the company’s stock, valued at approximately $1,237,016.88. 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 over the last ninety days. Company insiders own 0.81% of the company’s stock.

Brunswick Stock Performance

Shares of Brunswick stock opened at $82.09 on Friday. Brunswick Co. has a 12 month low of $66.47 and a 12 month high of $99.68. The company has a current ratio of 1.43, a quick ratio of 0.59 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $5.65 billion, a PE ratio of 13.80 and a beta of 1.56. The stock’s fifty day simple moving average is $89.38 and its 200 day simple moving average is $84.47.

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

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a dividend of $0.42 per share. This is an increase from Brunswick’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.68 annualized dividend and a dividend yield of 2.05%. Brunswick’s dividend payout ratio is currently 28.24%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BC. Stifel Nicolaus upped their price target on Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Truist Financial reduced their target price 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. BNP Paribas reissued a “neutral” rating and set a $82.00 price target (down from $94.00) on shares of Brunswick in a research note on Monday. Raymond James cut shares of Brunswick from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 4th. Finally, Roth Mkm upped their target price on shares of Brunswick from $85.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.69.

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.