Brunswick (NYSE:BC) Stock: Insider David Foulkes Sells 48,134 Shares

Brunswick Corporation (NYSE:BC) CEO David Foulkes sold 48,134 shares of Brunswick stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $78.98, for a total value of $3,801,623.32. Following the completion of the sale, the chief executive officer directly owned 221,047 shares in the company, valued at $17,458,292.06. This represents a 17.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Brunswick Price Performance

Shares of BC traded down $1.63 during trading hours on Friday, hitting $77.26. 904,116 shares of the stock were exchanged, compared to its average volume of 826,636. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 1.51. Brunswick Corporation has a 12-month low of $59.06 and a 12-month high of $90.25. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 23.92 and a beta of 1.40. The stock’s 50-day moving average price is $68.80 and its two-hundred day moving average price is $77.27.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.23. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.46 billion. Brunswick had a return on equity of 17.51% and a net margin of 3.69%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 EPS. Research analysts expect that Brunswick Corporation will post 4.66 earnings per share for the current year.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, November 24th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, November 24th. Brunswick’s dividend payout ratio (DPR) is currently 54.49%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its stake in Brunswick by 32.2% in the second quarter. Hsbc Holdings PLC now owns 90,649 shares of the company’s stock valued at $7,591,000 after acquiring an additional 22,098 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Brunswick during the second quarter worth about $27,441,000. BlackRock Inc. acquired a new stake in shares of Brunswick during the second quarter worth about $568,461,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Brunswick in the 2nd quarter valued at about $1,552,000. Finally, Castleark Management LLC purchased a new stake in shares of Brunswick in the 2nd quarter valued at about $4,778,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BC shares. DA Davidson reissued a “neutral” rating and set a $76.00 price target on shares of Brunswick in a research report on Monday, August 17th. BNP Paribas Exane initiated coverage on shares of Brunswick in a research report on Friday, October 30th. They set a “hold” rating and a $79.00 price objective for the company. Truist Financial reduced their target price on shares of Brunswick from $94.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. William Blair set a $94.00 target price on shares of Brunswick in a report on Thursday, August 13th. Finally, Citigroup decreased their target price on shares of Brunswick from $101.00 to $93.00 and set a “buy” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Brunswick has an average rating of “Hold” and a consensus target price of $83.75.

Brunswick Company Profile

Brunswick Corporation (NYSE:BC) is a marine recreation company that designs, manufactures and distributes products used in boating and related recreational activities. Its portfolio includes marine propulsion systems, boats, engines, electronics, boat control systems and other components, as well as parts and accessories.

The company’s marine businesses include Mercury Marine, which produces outboard, sterndrive and inboard engines, and a range of boat brands such as Boston Whaler, Sea Ray, Bayliner, Lund, Harris and Princecraft.