Hancock Whitney Corp Cuts Position in Brunswick Co. (NYSE:BC)

Hancock Whitney Corp reduced its position in shares of Brunswick Co. (NYSE:BC) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,634 shares of the company’s stock after selling 310 shares during the period. Hancock Whitney Corp’s holdings in Brunswick were worth $1,210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of BC. Principal Securities Inc. purchased a new position in Brunswick during the 4th quarter valued at about $28,000. Johnson Financial Group Inc. acquired a new stake in shares of Brunswick during the fourth quarter worth about $30,000. Rise Advisors LLC boosted its stake in shares of Brunswick by 249.5% in the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock valued at $31,000 after purchasing an additional 232 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Brunswick by 43,700.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after purchasing an additional 437 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its holdings in shares of Brunswick by 77.1% in the first quarter. J.Safra Asset Management Corp now owns 602 shares of the company’s stock valued at $58,000 after purchasing an additional 262 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Brunswick Stock Performance

Shares of Brunswick stock opened at $82.94 on Monday. The firm’s fifty day simple moving average is $78.15 and its 200-day simple moving average is $80.77. Brunswick Co. has a 12 month low of $66.47 and a 12 month high of $99.68. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 15.42 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 announced 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). The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a net margin of 5.92% and a return on equity of 23.46%. Brunswick’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.35 EPS. As a group, equities analysts forecast that Brunswick Co. will post 5.26 earnings per share for the current year.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 dividend yield of 2.03%. Brunswick’s dividend payout ratio is presently 31.23%.

Analyst Upgrades and Downgrades

Several brokerages have commented on BC. Stifel Nicolaus decreased their price target on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Roth Mkm reiterated a “buy” rating and issued a $94.00 target price on shares of Brunswick in a report on Thursday, July 25th. Benchmark reissued a “buy” rating and set a $100.00 target price on shares of Brunswick in a research note on Friday, July 26th. Northcoast Research raised 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, Jefferies Financial Group reissued a “hold” rating and set a $70.00 price objective (down from $115.00) on shares of Brunswick in a research report on Friday, July 26th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Brunswick presently has an average rating of “Moderate Buy” and a consensus target price of $88.23.

Insider Activity at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 358 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $81.34, for a total transaction of $29,119.72. Following 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 document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.81% of the company’s stock.

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.