LSV Asset Management Sells 37,600 Shares of Brunswick Co. (NYSE:BC)

LSV Asset Management cut its position in shares of Brunswick Co. (NYSE:BC) by 6.9% during the 1st quarter, HoldingsChannel reports. The firm owned 506,192 shares of the company’s stock after selling 37,600 shares during the period. LSV Asset Management’s holdings in Brunswick were worth $48,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in shares of Brunswick in the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. purchased a new stake in shares of Brunswick in the fourth quarter worth $30,000. Rise Advisors LLC increased its holdings in shares of Brunswick by 249.5% during the first 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. raised its position in shares of Brunswick by 347.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock worth $42,000 after purchasing an additional 337 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Brunswick by 43,700.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock worth $42,000 after purchasing an additional 437 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Brunswick

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

Analysts Set New Price Targets

A number of analysts have weighed in on BC shares. BNP Paribas restated a “neutral” rating and set a $82.00 price objective (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Benchmark initiated coverage on shares of Brunswick in a report on Wednesday, May 22nd. They issued a “buy” rating and a $100.00 price objective for the company. B. Riley cut their target price on Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a research note on Wednesday. Roth Mkm restated a “buy” rating and issued a $94.00 price target on shares of Brunswick in a research note on Thursday, April 25th. Finally, Truist Financial lowered their price target on Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Brunswick currently has an average rating of “Moderate Buy” and a consensus price target of $90.31.

Brunswick Stock Performance

Shares of NYSE BC traded up $1.27 during midday trading on Friday, hitting $77.35. 1,057,078 shares of the company’s stock traded hands, compared to its average volume of 735,544. The firm has a fifty day moving average of $76.95 and a 200 day moving average of $84.36. Brunswick Co. has a 1 year low of $66.47 and a 1 year high of $99.68. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.75 and a current ratio of 1.68. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 14.60 and a beta of 1.52.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The business 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%. The firm’s quarterly revenue was down 21.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.57 earnings per share. On average, analysts forecast that Brunswick Co. will post 7.26 earnings per share for the current year.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, May 13th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, May 10th. Brunswick’s dividend payout ratio is presently 31.23%.

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.