Daiwa Securities Group Inc. Sells 400 Shares of Brunswick Co. (NYSE:BC)

Daiwa Securities Group Inc. lessened its holdings in Brunswick Co. (NYSE:BC) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,260 shares of the company’s stock after selling 400 shares during the period. Daiwa Securities Group Inc.’s holdings in Brunswick were worth $892,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BC. Principal Securities Inc. purchased a new position in Brunswick during the fourth quarter worth $28,000. Johnson Financial Group Inc. purchased a new position in Brunswick during the fourth quarter worth $30,000. Rise Advisors LLC boosted its stake in Brunswick by 249.5% during the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after buying an additional 232 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Brunswick by 43,700.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock worth $42,000 after buying an additional 437 shares during the period. Finally, J.Safra Asset Management Corp boosted its stake in Brunswick by 77.1% during the first quarter. J.Safra Asset Management Corp now owns 602 shares of the company’s stock worth $58,000 after buying an additional 262 shares during the period. Institutional investors own 99.34% of the company’s stock.

Insiders Place Their Bets

In other Brunswick news, Director Nancy E. Cooper sold 358 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $81.34, for a total value of $29,119.72. Following the completion of the transaction, the director now directly owns 23,877 shares in the company, valued at $1,942,155.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Brunswick Stock Up 4.4 %

NYSE:BC opened at $79.15 on Monday. Brunswick Co. has a 1-year low of $66.47 and a 1-year high of $99.68. The company has a 50-day moving average of $77.22 and a 200 day moving average of $80.98. The firm has a market cap of $5.35 billion, a PE ratio of 14.71 and a beta of 1.51. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.70 and a quick ratio of 0.75.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the company earned $2.35 earnings per share. The firm’s revenue was down 15.2% compared to the same quarter last year. As a group, research analysts anticipate that Brunswick Co. will post 5.26 EPS for the current fiscal year.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were issued a $0.42 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $1.68 dividend on an annualized basis and a yield of 2.12%. Brunswick’s dividend payout ratio is presently 31.23%.

Wall Street Analyst Weigh In

Several research analysts have commented on BC shares. Roth Mkm reaffirmed a “buy” rating and set a $94.00 price objective on shares of Brunswick in a research note on Thursday, July 25th. Citigroup dropped their price objective on shares of Brunswick from $100.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Northcoast Research raised shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Monday, July 29th. Stifel Nicolaus lowered their target price on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Finally, Truist Financial lowered their target price on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $88.21.

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.