Federated Hermes Inc. Has $61.05 Million Stock Position in Brunswick Co. (NYSE:BC)

Federated Hermes Inc. grew its position in Brunswick Co. (NYSE:BC) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 838,996 shares of the company’s stock after buying an additional 14,144 shares during the period. Federated Hermes Inc. owned approximately 1.24% of Brunswick worth $61,054,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Brunswick by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 7,266,170 shares of the company’s stock valued at $701,331,000 after buying an additional 160,531 shares during the period. Baillie Gifford & Co. boosted its stake in Brunswick by 88.0% in the 2nd quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock worth $176,903,000 after purchasing an additional 1,137,568 shares during the period. American Century Companies Inc. boosted its stake in Brunswick by 4.1% in the 2nd quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock worth $106,337,000 after purchasing an additional 57,605 shares during the period. Victory Capital Management Inc. boosted its stake in Brunswick by 2.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,246,106 shares of the company’s stock worth $90,679,000 after purchasing an additional 29,028 shares during the period. Finally, Van Berkom & Associates Inc. boosted its stake in Brunswick by 9.8% in the 2nd quarter. Van Berkom & Associates Inc. now owns 921,555 shares of the company’s stock worth $67,062,000 after purchasing an additional 82,624 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Insider Activity at Brunswick

In other news, Director Nancy E. Cooper sold 358 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.34, for a total transaction of $29,119.72. Following the completion of the transaction, the director now owns 23,877 shares of the company’s stock, valued at $1,942,155.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BC shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $70.00 target price (down from $115.00) on shares of Brunswick in a research note on Friday, July 26th. Robert W. Baird cut their price target on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Stifel Nicolaus cut their price target on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Northcoast Research raised shares of 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, July 29th. Finally, Truist Financial cut their price target on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.21.

Brunswick Stock Performance

Shares of NYSE:BC opened at $79.15 on Friday. The company’s 50 day moving average price is $77.22 and its two-hundred day moving average price is $81.05. 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 $5.24 billion, a PE ratio of 14.71 and a beta of 1.51. 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 (NYSE:BC) last posted 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). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The business’s revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.35 EPS. Equities research analysts predict that Brunswick Co. will post 5.26 earnings per share for the current year.

Brunswick Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 21st were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, August 21st. Brunswick’s payout ratio is 31.23%.

Brunswick 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.