Truist Financial Has Lowered Expectations for Brunswick (NYSE:BC) Stock Price

Brunswick (NYSE:BC) had its target price lowered by Truist Financial from $90.00 to $85.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Citigroup raised their price target on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. B. Riley cut shares of Brunswick from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $95.00 to $88.00 in a research report on Tuesday, November 26th. Finally, Benchmark reaffirmed a “buy” rating and set a $100.00 price target on shares of Brunswick in a research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Brunswick has an average rating of “Moderate Buy” and a consensus price target of $88.15.

Brunswick Stock Down 1.0 %

Shares of NYSE:BC opened at $65.14 on Tuesday. The company has a market capitalization of $4.30 billion, a P/E ratio of 16.20 and a beta of 1.54. The stock’s fifty day simple moving average is $74.84 and its 200-day simple moving average is $77.09. Brunswick has a 52-week low of $63.08 and a 52-week high of $96.65. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17.

Brunswick Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Wednesday, November 20th. Brunswick’s payout ratio is 41.79%.

Insider Activity at Brunswick

In other news, CEO David M. Foulkes sold 23,829 shares of Brunswick stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total value of $1,911,562.38. Following the completion of the transaction, the chief executive officer now owns 251,094 shares in the company, valued at approximately $20,142,760.68. This trade represents a 8.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph W. Mcclanathan sold 4,745 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $80.14, for a total value of $380,264.30. Following the sale, the director now directly owns 19,218 shares in the company, valued at approximately $1,540,130.52. This represents a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,940 shares of company stock valued at $2,321,176. Insiders own 0.81% of the company’s stock.

Institutional Trading of Brunswick

Institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. lifted its holdings in shares of Brunswick by 7.6% in the 2nd quarter. Sei Investments Co. now owns 221,073 shares of the company’s stock worth $16,087,000 after purchasing an additional 15,602 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Brunswick during the second quarter valued at $8,289,000. Quest Partners LLC grew its position in shares of Brunswick by 99,353.8% during the second quarter. Quest Partners LLC now owns 12,929 shares of the company’s stock worth $941,000 after acquiring an additional 12,916 shares during the last quarter. American Century Companies Inc. grew its position in shares of Brunswick by 4.1% during the second quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock worth $106,337,000 after acquiring an additional 57,605 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Brunswick by 20.8% in the 2nd quarter. Bank of Montreal Can now owns 40,193 shares of the company’s stock worth $2,925,000 after acquiring an additional 6,922 shares during the period. Institutional investors own 99.34% of the company’s stock.

Brunswick Company 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.