Insider Selling: Brunswick Co. (NYSE:BC) Director Sells $29,119.72 in Stock

Brunswick Co. (NYSE:BC) Director Nancy E. Cooper sold 358 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $81.34, for a total transaction of $29,119.72. Following the sale, the director now directly owns 23,877 shares of the company’s stock, valued at approximately $1,942,155.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Brunswick Trading Down 0.3 %

Shares of NYSE:BC opened at $77.33 on Friday. The company’s fifty day simple moving average is $76.09 and its 200 day simple moving average is $82.84. The company has a quick ratio of 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. Brunswick Co. has a 12 month low of $66.47 and a 12 month high of $99.68. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 14.37 and a beta of 1.52.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the firm earned $2.35 earnings per share. As a group, research analysts forecast that Brunswick Co. will post 5.59 EPS for the current fiscal year.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 21st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.68 dividend on an annualized basis and a yield of 2.17%. Brunswick’s dividend payout ratio (DPR) is currently 31.23%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BC. Baillie Gifford & Co. bought a new stake in shares of Brunswick during the 1st quarter worth approximately $124,840,000. Norges Bank acquired a new stake in shares of Brunswick during the fourth quarter worth $65,105,000. Lord Abbett & CO. LLC acquired a new stake in shares of Brunswick during the first quarter worth $38,655,000. Jennison Associates LLC increased its position in shares of 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 buying an additional 334,851 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of 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 buying an additional 278,082 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analyst Ratings Changes

BC has been the subject of several recent analyst reports. Stifel Nicolaus dropped their price objective on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating for the company in a report on Friday, July 12th. Citigroup decreased their price target on shares of Brunswick from $100.00 to $88.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Robert W. Baird decreased their price target on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. BNP Paribas reissued a “neutral” rating and set a $82.00 price target (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Finally, Truist Financial reduced 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. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Brunswick has an average rating of “Moderate Buy” and an average target price of $88.21.

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.