Brunswick (NYSE:BC) Stock Price Down 5.8% – What’s Next?

Brunswick Co. (NYSE:BC) shares dropped 5.8% during trading on Tuesday . The company traded as low as $80.83 and last traded at $80.83. Approximately 147,609 shares were traded during trading, a decline of 79% from the average daily volume of 695,999 shares. The stock had previously closed at $85.82.

Analysts Set New Price Targets

Several analysts have weighed in on the company. B. Riley lowered Brunswick from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $88.00 in a report on Tuesday. Citigroup raised their target price on shares of Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, September 27th. Benchmark reiterated a “buy” rating and issued a $100.00 price target on shares of Brunswick in a research report on Friday, October 25th. Finally, Northcoast Research upgraded Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.54.

Brunswick Stock Down 6.2 %

The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 20.03 and a beta of 1.51. The firm’s 50-day moving average is $81.92 and its 200 day moving average is $78.78.

Brunswick Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, November 20th. Brunswick’s payout ratio is currently 41.79%.

Insider Buying and Selling at Brunswick

In other news, CEO David M. Foulkes sold 23,829 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $80.22, for a total value of $1,911,562.38. Following the completion of the sale, the chief executive officer now owns 251,094 shares of the company’s stock, valued at $20,142,760.68. This represents a 8.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nancy E. Cooper sold 366 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $80.19, for a total value of $29,349.54. Following the transaction, the director now directly owns 24,557 shares in the company, valued at $1,969,225.83. This trade represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,940 shares of company stock valued at $2,321,176. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. increased its stake in shares of Brunswick by 88.0% in the second quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock worth $176,903,000 after buying an additional 1,137,568 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Brunswick by 17.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock worth $259,010,000 after purchasing an additional 452,116 shares during the last quarter. Janus Henderson Group PLC increased its stake in Brunswick by 1,120.5% during the third quarter. Janus Henderson Group PLC now owns 354,631 shares of the company’s stock valued at $29,725,000 after purchasing an additional 325,574 shares during the last quarter. New York State Common Retirement Fund raised its stake in Brunswick by 447.5% during the third quarter. New York State Common Retirement Fund now owns 271,681 shares of the company’s stock worth $22,772,000 after acquiring an additional 222,062 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Brunswick during the 1st quarter worth approximately $19,304,000. 99.34% of the stock is owned by institutional investors and hedge funds.

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.