Shares of Brunswick Co. (NYSE:BC – Get Free Report) traded down 3.7% during trading on Friday after Truist Financial lowered their price target on the stock from $105.00 to $100.00. The stock traded as low as $83.82 and last traded at $85.00. 80,311 shares changed hands during trading, a decline of 86% from the average session volume of 586,659 shares. The stock had previously closed at $88.30.
Other equities analysts have also issued reports about the stock. StockNews.com initiated coverage on shares of Brunswick in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Citigroup cut their price target on shares of Brunswick from $106.00 to $100.00 in a report on Monday, June 26th. Raymond James cut their price target on shares of Brunswick from $100.00 to $94.00 in a report on Friday, April 28th. KeyCorp began coverage on shares of Brunswick in a report on Wednesday, April 19th. They issued an “overweight” rating and a $100.00 price target on the stock. Finally, Jefferies Financial Group cut their price target on shares of Brunswick from $105.00 to $94.00 and set a “buy” rating on the stock in a report on Friday, March 17th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.33.
Insider Buying and Selling at Brunswick
In other news, Director Nancy E. Cooper sold 327 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $86.23, for a total transaction of $28,197.21. Following the sale, the director now owns 20,499 shares of the company’s stock, valued at $1,767,628.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Nancy E. Cooper sold 327 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $86.23, for a total transaction of $28,197.21. Following the sale, the director now owns 20,499 shares of the company’s stock, valued at $1,767,628.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David M. Foulkes sold 13,000 shares of the stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $81.40, for a total transaction of $1,058,200.00. Following the sale, the chief executive officer now directly owns 241,957 shares in the company, valued at approximately $19,695,299.80. The disclosure for this sale can be found here. Insiders have sold 14,636 shares of company stock valued at $1,186,156 over the last 90 days. 0.58% of the stock is owned by insiders.
Institutional Trading of Brunswick
Large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Brunswick in the fourth quarter valued at approximately $53,519,000. Morgan Stanley grew its position in shares of Brunswick by 100.6% during the fourth quarter. Morgan Stanley now owns 953,791 shares of the company’s stock worth $68,749,000 after acquiring an additional 478,329 shares during the last quarter. FMR LLC lifted its holdings in shares of Brunswick by 136.7% during the first quarter. FMR LLC now owns 669,133 shares of the company’s stock worth $54,869,000 after purchasing an additional 386,414 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Brunswick by 80.3% during the first quarter. Franklin Resources Inc. now owns 764,183 shares of the company’s stock worth $62,663,000 after purchasing an additional 340,454 shares during the period. Finally, Global Alpha Capital Management Ltd. acquired a new stake in shares of Brunswick during the fourth quarter worth $22,270,000. 93.12% of the stock is currently owned by hedge funds and other institutional investors.
Brunswick Trading Down 5.7 %
The company has a quick ratio of 0.81, a current ratio of 1.86 and a debt-to-equity ratio of 1.17. The business has a fifty day simple moving average of $81.75 and a 200 day simple moving average of $81.90. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 10.64 and a beta of 1.54.
Brunswick (NYSE:BC – Get Free Report) last released its earnings results on Thursday, April 27th. The company reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.71 billion. Brunswick had a return on equity of 36.65% and a net margin of 8.97%. Brunswick’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.53 earnings per share. On average, equities analysts anticipate that Brunswick Co. will post 10.41 EPS for the current fiscal year.
Brunswick Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, May 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Friday, May 12th. Brunswick’s dividend payout ratio (DPR) is presently 19.28%.
About Brunswick
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through three segments: Propulsion, Parts & Accessories, and Boat. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.