Xponance Inc. Sells 1,445 Shares of Brunswick Co. (NYSE:BC)

Xponance Inc. lowered its stake in Brunswick Co. (NYSE:BC) by 16.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,299 shares of the company’s stock after selling 1,445 shares during the quarter. Xponance Inc.’s holdings in Brunswick were worth $531,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rise Advisors LLC raised its stake in Brunswick by 249.5% during the 1st 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 raised its position in shares of 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 purchasing an additional 437 shares during the period. J.Safra Asset Management Corp raised its position in shares of 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 purchasing an additional 262 shares during the period. Brown Brothers Harriman & Co. grew its position in Brunswick by 291.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,041 shares of the company’s stock valued at $101,000 after purchasing an additional 775 shares during the period. Finally, Prestige Wealth Management Group LLC grew its position in Brunswick by 2,478.0% in the 1st 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 during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BC. Benchmark restated a “buy” rating and issued a $100.00 target price on shares of Brunswick in a report on Friday, July 26th. Roth Mkm restated a “buy” rating and issued a $94.00 target price on shares of Brunswick in a report on Thursday, July 25th. Citigroup upped their price target on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. dropped their price objective on Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 price objective (down from $115.00) on shares of Brunswick in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.23.

Brunswick Stock Down 0.8 %

Brunswick stock opened at $83.82 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $5.66 billion, a P/E ratio of 15.58 and a beta of 1.51. The firm has a 50 day moving average price of $78.52 and a 200-day moving average price of $80.51. Brunswick Co. has a twelve month low of $66.47 and a twelve month high of $99.68.

Brunswick (NYSE:BC) last released its 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). The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.35 earnings per share. As a group, equities analysts predict that Brunswick Co. will post 5.26 EPS for the current year.

Brunswick Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.68 dividend on an annualized basis and a yield of 2.00%. Brunswick’s dividend payout ratio is presently 31.23%.

Insider Transactions at Brunswick

In related news, Director Nancy E. Cooper sold 358 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,942,155.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.81% of the company’s stock.

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.