FORA Capital LLC Lowers Stock Holdings in Brunswick Co. (NYSE:BC)

FORA Capital LLC lowered its stake in Brunswick Co. (NYSE:BC) by 71.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,319 shares of the company’s stock after selling 8,338 shares during the period. FORA Capital LLC’s holdings in Brunswick were worth $320,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BC. Principal Securities Inc. bought a new stake in Brunswick during the 4th quarter valued at approximately $28,000. Johnson Financial Group Inc. bought a new stake in Brunswick during the 4th quarter valued at approximately $30,000. Rise Advisors LLC boosted 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 acquiring an additional 232 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted 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 acquiring an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

BC has been the subject of several recent research reports. Morgan Stanley lowered their target price on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Roth Mkm reiterated a “buy” rating and set a $94.00 target price on shares of Brunswick in a report on Thursday, April 25th. BNP Paribas reiterated a “neutral” rating and set a $82.00 target price (down from $94.00) on shares of Brunswick in a report on Monday, April 15th. DA Davidson reiterated a “neutral” rating and set a $77.00 target price on shares of Brunswick in a report on Friday, March 15th. Finally, Truist Financial lowered their target price on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.31.

Brunswick Stock Performance

BC traded down $1.07 during mid-day trading on Tuesday, reaching $69.92. 146,033 shares of the company traded hands, compared to its average volume of 725,079. The stock has a market capitalization of $4.72 billion, a P/E ratio of 13.09 and a beta of 1.52. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. The company’s fifty day moving average price is $77.46 and its 200-day moving average price is $84.71. 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, April 25th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. Brunswick’s quarterly revenue was down 21.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.57 earnings per share. On average, sell-side analysts expect that Brunswick Co. will post 7.39 EPS for the current year.

Brunswick Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, May 13th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Friday, May 10th. Brunswick’s payout ratio is 31.23%.

Insider Activity

In other news, Director Nancy E. Cooper sold 357 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total transaction of $28,681.38. Following the completion of the sale, the director now owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Brenna Preisser sold 1,225 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $82.09, for a total value of $100,560.25. Following the completion of the transaction, the vice president now owns 58,076 shares of the company’s stock, valued at approximately $4,767,458.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total transaction of $28,681.38. Following the completion of the transaction, the director now directly owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

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.