Gateway Investment Advisers LLC Trims Holdings in Brunswick Co. (NYSE:BC)

Gateway Investment Advisers LLC lowered its stake in shares of Brunswick Co. (NYSE:BC) by 29.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,662 shares of the company’s stock after selling 1,563 shares during the period. Gateway Investment Advisers LLC’s holdings in Brunswick were worth $307,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Inspire Advisors LLC grew its stake in Brunswick by 7.9% during the 1st quarter. Inspire Advisors LLC now owns 2,268 shares of the company’s stock worth $219,000 after purchasing an additional 166 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Brunswick by 7.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,905 shares of the company’s stock worth $280,000 after buying an additional 197 shares during the period. Comerica Bank raised its holdings in Brunswick by 0.6% in the first quarter. Comerica Bank now owns 35,548 shares of the company’s stock valued at $3,431,000 after acquiring an additional 205 shares in the last quarter. Rise Advisors LLC lifted its stake in Brunswick by 249.5% in the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after acquiring an additional 232 shares during the last quarter. Finally, CWM LLC increased its position in shares of Brunswick by 21.6% in the 3rd quarter. CWM LLC now owns 1,323 shares of the company’s stock valued at $111,000 after purchasing an additional 235 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Insider Buying and Selling at Brunswick

In other news, Director Nancy E. Cooper sold 358 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the completion of the sale, the director now directly owns 23,877 shares of the company’s stock, valued at approximately $1,942,155.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Brunswick Stock Performance

Shares of Brunswick stock opened at $82.49 on Monday. Brunswick Co. has a 12 month low of $66.47 and a 12 month high of $99.68. 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 stock has a market cap of $5.57 billion, a PE ratio of 15.33 and a beta of 1.51. The business has a fifty day simple moving average of $79.01 and a 200-day simple moving average of $79.88.

Brunswick (NYSE:BC) last issued 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 for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the business earned $2.35 EPS. The company’s quarterly revenue was down 15.2% on a year-over-year basis. On average, sell-side analysts anticipate that Brunswick Co. will post 5.26 EPS for the current fiscal year.

Brunswick Dividend Announcement

The company 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. This represents a $1.68 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Wednesday, August 21st. Brunswick’s dividend payout ratio is 31.23%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BC. Truist Financial decreased their target price on Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Robert W. Baird dropped 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. Jefferies Financial Group reissued a “hold” rating and issued a $70.00 price target (down from $115.00) on shares of Brunswick in a research report on Friday, July 26th. Benchmark reiterated a “buy” rating and set a $100.00 target price on shares of Brunswick in a research report on Friday, July 26th. Finally, B. Riley reduced their target price on Brunswick from $108.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.23.

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.