Wealth Enhancement Advisory Services LLC Sells 442 Shares of Brunswick Co. (NYSE:BC)

Wealth Enhancement Advisory Services LLC lowered its stake in Brunswick Co. (NYSE:BC) by 9.0% in the 2nd quarter, Holdings Channel reports. The firm owned 4,473 shares of the company’s stock after selling 442 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Brunswick were worth $326,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BC. Principal Securities Inc. bought a new position in shares of Brunswick in the fourth quarter worth $28,000. Johnson Financial Group Inc. bought a new position in Brunswick in the 4th quarter worth about $30,000. Rise Advisors LLC raised its holdings in shares of Brunswick by 249.5% in the 1st quarter. Rise Advisors LLC now owns 325 shares of the company’s stock valued at $31,000 after acquiring an additional 232 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Brunswick by 347.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock valued at $42,000 after acquiring an additional 337 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Price Performance

Shares of Brunswick stock opened at $80.56 on Monday. The stock has a market capitalization of $5.44 billion, a P/E ratio of 14.97 and a beta of 1.52. Brunswick Co. has a one year low of $66.47 and a one year high of $99.68. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.70 and a quick ratio of 0.75. The business’s 50 day simple moving average is $75.51 and its two-hundred day simple moving average is $81.93.

Brunswick (NYSE:BC) last issued its earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing the consensus estimate 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 firm’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.35 earnings per share. 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 dividend of $0.42 per share. 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 (DPR) is 31.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BC shares. JPMorgan Chase & Co. lowered their target price on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Northcoast Research raised shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Monday, July 29th. Jefferies Financial Group reissued a “hold” rating and issued a $70.00 target price (down previously from $115.00) on shares of Brunswick in a research note on Friday, July 26th. Benchmark restated a “buy” rating and set a $100.00 price target on shares of Brunswick in a research report on Friday, July 26th. 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 investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.21.

Insider Buying and Selling

In related news, Director Nancy E. Cooper sold 358 shares of the company’s stock in a transaction that occurred 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 owns 23,877 shares in the company, valued at $1,942,155.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.81% of the stock is owned by insiders.

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.