Brunswick (NYSE:BC) Trading 4.1% Higher

Brunswick Co. (NYSE:BC) shares shot up 4.1% during trading on Monday . The company traded as high as $83.71 and last traded at $83.26. 250,741 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 765,818 shares. The stock had previously closed at $79.98.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BC. JPMorgan Chase & Co. decreased their price objective on Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Stifel Nicolaus reduced their price target on Brunswick from $97.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Roth Mkm restated a “buy” rating and issued a $94.00 price target on shares of Brunswick in a research report on Thursday. Northcoast Research upgraded Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Monday. Finally, Morgan Stanley reduced their price target on Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.21.

Brunswick Price Performance

The company has a 50 day moving average of $76.11 and a 200 day moving average of $83.04. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 15.02 and a beta of 1.52. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18.

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

Brunswick Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Wednesday, August 21st. Brunswick’s dividend payout ratio is 31.23%.

Insider Buying and Selling at Brunswick

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

Hedge Funds Weigh In On Brunswick

A number of hedge funds and other institutional investors have recently bought and sold shares of BC. Baillie Gifford & Co. bought a new position in Brunswick during the first quarter worth about $124,840,000. Norges Bank bought a new position in Brunswick during the fourth quarter worth about $65,105,000. Lord Abbett & CO. LLC bought a new position in Brunswick during the first quarter worth about $38,655,000. Jennison Associates LLC grew its holdings in Brunswick by 71.0% during the fourth quarter. Jennison Associates LLC now owns 806,396 shares of the company’s stock worth $78,019,000 after purchasing an additional 334,851 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Brunswick by 32.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,144,308 shares of the company’s stock worth $110,712,000 after purchasing an additional 278,082 shares during the period. Institutional investors own 99.34% of the company’s stock.

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.