Vanguard Group Inc. Sells 51,406 Shares of Brunswick Corporation $BC

Vanguard Group Inc. lowered its position in Brunswick Corporation (NYSE:BC) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,897,775 shares of the company’s stock after selling 51,406 shares during the quarter. Vanguard Group Inc. owned 0.11% of Brunswick worth $436,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in BC. Allianz Asset Management GmbH raised its stake in Brunswick by 191.0% during the third quarter. Allianz Asset Management GmbH now owns 214,150 shares of the company’s stock worth $13,543,000 after buying an additional 140,566 shares during the last quarter. Federated Hermes Inc. increased its holdings in Brunswick by 26.0% during the 3rd quarter. Federated Hermes Inc. now owns 824,181 shares of the company’s stock worth $52,121,000 after purchasing an additional 170,030 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Brunswick by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,494,664 shares of the company’s stock worth $221,003,000 after acquiring an additional 11,777 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Brunswick by 70.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,700,164 shares of the company’s stock worth $107,518,000 after buying an additional 700,447 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Brunswick by 33.1% during the 2nd quarter. New York State Common Retirement Fund now owns 399,962 shares of the company’s stock valued at $22,094,000 after purchasing an additional 99,391 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on BC. DA Davidson lifted their price objective on shares of Brunswick from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Wolfe Research set a $90.00 target price on Brunswick in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brunswick in a report on Monday, December 29th. Robert W. Baird set a $85.00 price objective on Brunswick in a research note on Friday, January 30th. Finally, Citigroup boosted their price target on Brunswick from $100.00 to $101.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Brunswick currently has a consensus rating of “Hold” and an average price target of $84.00.

Insider Buying and Selling at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 4,981 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $87.38, for a total transaction of $435,239.78. Following the completion of the sale, the vice president owned 39,740 shares of the company’s stock, valued at approximately $3,472,481.20. The trade was a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David M. Foulkes sold 38,266 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the completion of the sale, the chief executive officer directly owned 271,169 shares of the company’s stock, valued at approximately $23,472,388.64. This trade represents a 12.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is currently owned by insiders.

Brunswick Trading Down 3.1%

Shares of NYSE BC opened at $81.15 on Thursday. The company has a market cap of $5.26 billion, a PE ratio of -38.28 and a beta of 1.39. Brunswick Corporation has a 52-week low of $41.00 and a 52-week high of $90.25. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 1.44. The firm’s 50 day moving average price is $83.37 and its 200-day moving average price is $71.74.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, January 29th. The company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.21 billion. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. On average, equities research analysts expect that Brunswick Corporation will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be issued a dividend of $0.44 per share. This is an increase from Brunswick’s previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, February 23rd. Brunswick’s dividend payout ratio is currently -83.02%.

About Brunswick

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.