Allworth Financial LP Increases Stake in Brunswick Corporation (NYSE:BC)

Allworth Financial LP grew its position in Brunswick Corporation (NYSE:BC) by 4,972.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 558 shares of the company’s stock after buying an additional 547 shares during the period. Allworth Financial LP’s holdings in Brunswick were worth $30,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BC. Hudson Edge Investment Partners Inc. lifted its holdings in shares of Brunswick by 63.2% during the first quarter. Hudson Edge Investment Partners Inc. now owns 12,361 shares of the company’s stock valued at $666,000 after purchasing an additional 4,787 shares in the last quarter. Bank of New York Mellon Corp raised its position in Brunswick by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 770,820 shares of the company’s stock worth $41,509,000 after buying an additional 4,311 shares during the last quarter. GAMMA Investing LLC raised its position in Brunswick by 59.3% in the 1st quarter. GAMMA Investing LLC now owns 1,276 shares of the company’s stock worth $69,000 after buying an additional 475 shares during the last quarter. American Century Companies Inc. lifted its stake in Brunswick by 2.9% during the 4th quarter. American Century Companies Inc. now owns 1,462,558 shares of the company’s stock valued at $94,599,000 after acquiring an additional 41,583 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Brunswick by 7.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,349 shares of the company’s stock valued at $396,000 after acquiring an additional 484 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Brunswick Stock Up 0.1%

NYSE BC opened at $59.67 on Friday. Brunswick Corporation has a 52 week low of $41.00 and a 52 week high of $87.65. The company has a quick ratio of 0.65, a current ratio of 1.57 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $3.92 billion, a P/E ratio of 49.31 and a beta of 1.27. The stock’s 50-day moving average price is $55.46 and its 200-day moving average price is $56.74.

Brunswick (NYSE:BC) last released its earnings results on Thursday, April 24th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.31. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Brunswick had a net margin of 1.62% and a return on equity of 12.88%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.35 EPS. On average, equities research analysts predict that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 20th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, August 20th. Brunswick’s dividend payout ratio (DPR) is 142.15%.

Insiders Place Their Bets

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $58.47, for a total transaction of $122,319.24. Following the sale, the vice president directly owned 44,466 shares of the company’s stock, valued at $2,599,927.02. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Benchmark started coverage on shares of Brunswick in a report on Monday, April 28th. They set a “buy” rating and a $70.00 price objective for the company. Citigroup reaffirmed a “buy” rating and issued a $68.00 target price (up previously from $61.00) on shares of Brunswick in a research report on Monday, June 16th. Truist Financial lowered their price target on Brunswick from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Robert W. Baird raised their price target on Brunswick from $56.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Finally, BMO Capital Markets reduced their price objective on Brunswick from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

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.