Key Points
- Brunswick CEO David Foulkes sold 48,134 shares for about $3.80 million at an average price of $78.98, reducing his direct stake by 17.88% to 221,047 shares.
- Brunswick’s latest quarterly earnings beat expectations: EPS was $1.58 versus $1.35 forecast, while revenue of $1.45 billion came in slightly below estimates but rose 6.9% year over year.
- The company declared a quarterly dividend of $0.44 per share, equivalent to $1.76 annually and a 2.3% yield. Analysts’ consensus rating was Hold, with an average price target of $83.75.
Brunswick Corporation (NYSE:BC - Get Free Report) CEO David Foulkes sold 48,134 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $78.98, for a total transaction of $3,801,623.32. Following the completion of the transaction, the chief executive officer directly owned 221,047 shares in the company, valued at $17,458,292.06. The trade was a 17.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Brunswick Stock Performance
Shares of NYSE:BC opened at $77.26 on Friday. The firm has a fifty day simple moving average of $68.79 and a two-hundred day simple moving average of $77.23. The stock has a market capitalization of $5.01 billion, a P/E ratio of 23.92 and a beta of 1.40. The company has a quick ratio of 0.62, a current ratio of 1.51 and a debt-to-equity ratio of 1.07. Brunswick Corporation has a 52 week low of $59.06 and a 52 week high of $90.25.
Brunswick (NYSE:BC - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.35 by $0.23. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.46 billion. Brunswick had a net margin of 3.69% and a return on equity of 17.51%. Brunswick's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 earnings per share. On average, analysts expect that Brunswick Corporation will post 4.66 earnings per share for the current fiscal year.
Brunswick Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, November 24th will be issued a dividend of $0.44 per share. The ex-dividend date is Tuesday, November 24th. This represents a $1.76 annualized dividend and a yield of 2.3%. Brunswick's dividend payout ratio (DPR) is presently 54.49%.
Analysts Set New Price Targets
BC has been the topic of a number of recent analyst reports. Morgan Stanley set a $74.00 target price on Brunswick in a research report on Monday, October 26th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Brunswick in a research note on Monday, September 21st. Truist Financial lowered their price objective on Brunswick from $94.00 to $81.00 and set a "buy" rating on the stock in a research report on Friday, October 23rd. William Blair set a $94.00 price target on shares of Brunswick in a research note on Thursday, August 13th. Finally, DA Davidson restated a "neutral" rating and set a $76.00 target price on shares of Brunswick in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $83.75.
Get Our Latest Stock Analysis on Brunswick
Institutional Trading of Brunswick
Several hedge funds and other institutional investors have recently bought and sold shares of BC. William Blair Investment Management LLC grew its position in shares of Brunswick by 23.2% during the 3rd quarter. William Blair Investment Management LLC now owns 6,024 shares of the company's stock valued at $387,000 after acquiring an additional 1,136 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Brunswick by 4.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 326,779 shares of the company's stock worth $20,992,000 after purchasing an additional 12,918 shares in the last quarter. R Squared Ltd raised its stake in Brunswick by 101.9% in the 3rd quarter. R Squared Ltd now owns 4,989 shares of the company's stock valued at $320,000 after purchasing an additional 2,518 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Brunswick during the third quarter worth approximately $2,023,000. Finally, AlphaCore Capital LLC acquired a new position in shares of Brunswick during the third quarter worth about $278,000. Institutional investors and hedge funds own 99.34% of the company's stock.
Brunswick Company Profile
(
Get Free Report)
Brunswick Corporation (NYSE:BC) is a marine recreation company that designs, manufactures and distributes products used in boating and related recreational activities. Its portfolio includes marine propulsion systems, boats, engines, electronics, boat control systems and other components, as well as parts and accessories.
The company's marine businesses include Mercury Marine, which produces outboard, sterndrive and inboard engines, and a range of boat brands such as Boston Whaler, Sea Ray, Bayliner, Lund, Harris and Princecraft.
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