Hsbc Holdings PLC Grows Stock Position in Brunswick Co. (NYSE:BC)

Hsbc Holdings PLC increased its position in shares of Brunswick Co. (NYSE:BC) by 181.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,914 shares of the company’s stock after purchasing an additional 5,750 shares during the quarter. Hsbc Holdings PLC’s holdings in Brunswick were worth $645,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC grew its holdings in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Brunswick by 43,700.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after acquiring an additional 437 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in Brunswick by 77.1% in the 1st quarter. J.Safra Asset Management Corp now owns 602 shares of the company’s stock worth $58,000 after purchasing an additional 262 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Brunswick by 291.4% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,041 shares of the company’s stock worth $101,000 after purchasing an additional 775 shares during the last quarter. Finally, Prestige Wealth Management Group LLC grew its position in shares of Brunswick by 2,478.0% in the first quarter. Prestige Wealth Management Group LLC now owns 1,057 shares of the company’s stock valued at $102,000 after purchasing an additional 1,016 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Nancy E. Cooper sold 358 shares of the business’s stock in a transaction 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.81% of the company’s stock.

Brunswick Trading Up 1.9 %

Shares of NYSE BC opened at $84.53 on Monday. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $5.71 billion, a PE ratio of 15.71 and a beta of 1.51. Brunswick Co. has a twelve month low of $66.47 and a twelve month high of $99.68. The stock has a fifty day simple moving average of $78.41 and a 200-day simple moving average of $80.52.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the company earned $2.35 earnings per share. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. On average, equities analysts forecast that Brunswick Co. will post 5.26 earnings per share for the current year.

Brunswick Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were paid a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.68 annualized dividend and a dividend yield of 1.99%. Brunswick’s dividend payout ratio (DPR) is 31.23%.

Analyst Ratings Changes

BC has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price objective on Brunswick from $97.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Benchmark reissued a “buy” rating and set a $100.00 price target on shares of Brunswick in a research report on Friday, July 26th. Truist Financial cut their price objective on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Robert W. Baird dropped their price target on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, B. Riley reduced their price target on shares of Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.23.

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.