Brunswick’s (BC) Neutral Rating Reiterated at DA Davidson

DA Davidson reissued their neutral rating on shares of Brunswick (NYSE:BC) in a research note issued to investors on Friday, Benzinga reports. They currently have a $77.00 price target on the stock.

A number of other equities analysts have also commented on BC. Truist Financial dropped their price target on Brunswick from $115.00 to $105.00 and set a buy rating for the company in a research note on Friday, February 2nd. Raymond James downgraded Brunswick from an outperform rating to a market perform rating in a research report on Thursday, January 4th. B. Riley upgraded Brunswick from a neutral rating to a buy rating and upped their price objective for the company from $100.00 to $108.00 in a research report on Tuesday, February 20th. Stifel Nicolaus upped their price objective on Brunswick from $88.00 to $97.00 and gave the company a buy rating in a research report on Wednesday, January 17th. Finally, Roth Mkm upped their price objective on Brunswick from $85.00 to $94.00 and gave the company a buy rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Brunswick currently has an average rating of Moderate Buy and an average price target of $93.58.

Brunswick Stock Performance

NYSE BC traded down $0.47 on Friday, hitting $87.01. 742,139 shares of the company traded hands, compared to its average volume of 744,755. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 14.60 and a beta of 1.55. The company has a current ratio of 1.43, a quick ratio of 0.59 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average price is $86.65 and its 200-day moving average price is $82.33. Brunswick has a 52-week low of $66.47 and a 52-week high of $99.68.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.21). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.44 billion. Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The business’s revenue was down 14.0% on a year-over-year basis. During the same period last year, the company earned $1.99 EPS. Equities analysts expect that Brunswick will post 7.49 earnings per share for the current year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, February 23rd. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio is currently 28.24%.

Insiders Place Their Bets

In other news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the completion of the transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.11, for a total value of $3,048,850.00. Following the completion of the transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher F. Dekker sold 6,234 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $84.53, for a total value of $526,960.02. Following the completion of the transaction, the vice president now directly owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,696 shares of company stock worth $4,574,199. Corporate insiders own 0.58% of the company’s stock.

Institutional Trading of Brunswick

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Brunswick by 0.7% during the 1st quarter. BlackRock Inc. now owns 6,426,552 shares of the company’s stock worth $519,843,000 after purchasing an additional 46,519 shares during the period. FMR LLC grew its holdings in shares of Brunswick by 140.4% during the 3rd quarter. FMR LLC now owns 3,435,357 shares of the company’s stock worth $271,393,000 after purchasing an additional 2,006,578 shares during the period. State Street Corp grew its holdings in shares of Brunswick by 2.6% during the 1st quarter. State Street Corp now owns 2,121,553 shares of the company’s stock worth $171,612,000 after purchasing an additional 53,083 shares during the period. American Century Companies Inc. grew its holdings in shares of Brunswick by 0.5% during the 3rd quarter. American Century Companies Inc. now owns 1,972,076 shares of the company’s stock worth $155,794,000 after purchasing an additional 9,465 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Brunswick by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,917,051 shares of the company’s stock worth $185,483,000 after purchasing an additional 47,053 shares during the period. 94.44% of the stock is owned by institutional investors and hedge funds.

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.