Massachusetts Financial Services Co. MA Buys 58,583 Shares of Brunswick Co. (NYSE:BC)

Massachusetts Financial Services Co. MA boosted its stake in shares of Brunswick Co. (NYSE:BC) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 2,637,962 shares of the company’s stock after acquiring an additional 58,583 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Brunswick were worth $191,964,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in Brunswick during the 4th quarter worth about $28,000. Johnson Financial Group Inc. bought a new stake in Brunswick during the 4th quarter worth about $30,000. Rise Advisors LLC lifted its position in Brunswick by 249.5% during the 1st quarter. Rise Advisors LLC now owns 325 shares of the company’s stock valued at $31,000 after purchasing an additional 232 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Brunswick by 43,700.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after purchasing an additional 437 shares during the period. Finally, J.Safra Asset Management Corp lifted its position in Brunswick by 77.1% during the 1st quarter. J.Safra Asset Management Corp now owns 602 shares of the company’s stock valued at $58,000 after purchasing an additional 262 shares during the period. Institutional investors own 99.34% of the company’s stock.

Analyst Upgrades and Downgrades

BC has been the topic of a number of research reports. Truist Financial cut their target price on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Robert W. Baird cut their target price on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. JPMorgan Chase & Co. cut their target price on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Roth Mkm restated a “buy” rating and set a $94.00 target price on shares of Brunswick in a research report on Thursday, July 25th. Finally, Stifel Nicolaus cut their price target on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.21.

Insiders Place Their Bets

In other 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Brunswick Stock Performance

Shares of BC stock opened at $81.89 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. The company has a market capitalization of $5.53 billion, a P/E ratio of 15.22 and a beta of 1.51. The company’s 50 day moving average price is $77.41 and its two-hundred day moving average price is $80.92. Brunswick Co. has a 52 week low of $66.47 and a 52 week high of $99.68.

Brunswick (NYSE:BC) last announced 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 company had revenue of $1.44 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $2.35 earnings per share. On average, analysts expect that Brunswick Co. will post 5.26 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.68 annualized dividend and a yield of 2.05%. Brunswick’s dividend payout ratio (DPR) is currently 31.23%.

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.