Brunswick Co. (NYSE:BC) Position Increased by Quadrature Capital Ltd

Quadrature Capital Ltd increased its stake in shares of Brunswick Co. (NYSE:BC) by 24.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,397 shares of the company’s stock after buying an additional 2,012 shares during the quarter. Quadrature Capital Ltd’s holdings in Brunswick were worth $1,004,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BC. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Brunswick by 13.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 6,252 shares of the company’s stock worth $605,000 after acquiring an additional 764 shares during the period. Pacer Advisors Inc. increased its stake in shares of Brunswick by 76.7% in the fourth quarter. Pacer Advisors Inc. now owns 10,334 shares of the company’s stock valued at $1,000,000 after purchasing an additional 4,486 shares during the period. Trust Point Inc. bought a new stake in shares of Brunswick during the fourth quarter valued at approximately $212,000. International Assets Investment Management LLC acquired a new position in shares of Brunswick during the fourth quarter worth approximately $20,460,000. Finally, Cubic Asset Management LLC grew its holdings in Brunswick by 4.4% in the 4th quarter. Cubic Asset Management LLC now owns 4,185 shares of the company’s stock worth $405,000 after buying an additional 175 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Brunswick Stock Performance

BC traded up $0.96 during midday trading on Friday, reaching $79.98. The company’s stock had a trading volume of 1,573,593 shares, compared to its average volume of 977,837. Brunswick Co. has a twelve month low of $66.47 and a twelve month high of $99.68. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. The stock has a market cap of $5.40 billion, a P/E ratio of 14.87 and a beta of 1.52. The company has a fifty day simple moving average of $76.11 and a 200 day simple moving average of $83.08.

Brunswick (NYSE:BC) last released its earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the business earned $2.35 earnings per share. Research analysts expect that Brunswick Co. will post 6.13 earnings per share for the current year.

Brunswick Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 21st will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, August 21st. This represents a $1.68 dividend on an annualized basis and a yield of 2.10%. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Insider Buying and Selling

In other Brunswick news, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $82.09, for a total transaction of $100,560.25. Following the transaction, the vice president now owns 58,076 shares in the company, valued at $4,767,458.84. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Brunswick news, Director Nancy E. Cooper sold 357 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total value of $28,681.38. Following the sale, the director now owns 23,211 shares in the company, valued at approximately $1,864,771.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brenna Preisser sold 1,225 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total transaction of $100,560.25. Following the completion of the sale, the vice president now directly owns 58,076 shares in the company, valued at approximately $4,767,458.84. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Benchmark reiterated a “buy” rating and set a $100.00 price target on shares of Brunswick in a research report on Friday. Robert W. Baird lowered their target price on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday. Citigroup dropped their target price on Brunswick from $100.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Truist Financial lowered their price objective on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, Roth Mkm reissued a “buy” rating and set a $94.00 target price on shares of Brunswick in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.57.

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.