Brunswick Co. (NYSE:BC) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its stake in shares of Brunswick Co. (NYSE:BC) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,769 shares of the company’s stock after selling 4,865 shares during the period. Raymond James & Associates’ holdings in Brunswick were worth $11,845,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BC. Blue Trust Inc. acquired a new position in Brunswick during the second quarter worth $129,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Brunswick by 36.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,952 shares of the company’s stock worth $288,000 after buying an additional 1,047 shares during the last quarter. M&G Plc boosted its position in shares of Brunswick by 15.1% in the 2nd quarter. M&G Plc now owns 55,218 shares of the company’s stock worth $4,031,000 after buying an additional 7,261 shares in the last quarter. Gateway Investment Advisers LLC purchased a new stake in shares of Brunswick in the 2nd quarter worth about $380,000. Finally, SG Americas Securities LLC acquired a new stake in Brunswick in the 2nd quarter valued at about $676,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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 transaction, the director now owns 23,877 shares in the company, valued at $1,942,155.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.81% of the company’s stock.

Brunswick Stock Up 5.4 %

Shares of NYSE:BC opened at $80.56 on Friday. 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 firm has a market cap of $5.44 billion, a price-to-earnings ratio of 14.97 and a beta of 1.52. The stock’s 50-day moving average price is $75.51 and its two-hundred day moving average price is $81.94. Brunswick Co. has a 12-month low of $66.47 and a 12-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). Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the firm posted $2.35 earnings per share. Brunswick’s revenue for the quarter was down 15.2% compared to the same quarter last year. On average, research analysts forecast that Brunswick Co. will post 5.59 EPS for the current year.

Brunswick Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Wednesday, August 21st. Brunswick’s dividend payout ratio is currently 31.23%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup cut their target price on shares of Brunswick from $100.00 to $88.00 and set a “buy” rating for the company in a research report on Monday, July 8th. JPMorgan Chase & Co. cut their price objective on Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Robert W. Baird lowered their target price on Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Truist Financial cut their price target on Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, July 8th. Finally, B. Riley reduced their price objective on Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.21.

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.