Waterfront Wealth Inc. Cuts Stock Position in Brunswick Co. (NYSE:BC)

Waterfront Wealth Inc. cut its stake in shares of Brunswick Co. (NYSE:BC) by 36.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,124 shares of the company’s stock after selling 1,806 shares during the period. Waterfront Wealth Inc.’s holdings in Brunswick were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Brunswick by 140.4% in the third quarter. FMR LLC now owns 3,435,357 shares of the company’s stock valued at $271,393,000 after acquiring an additional 2,006,578 shares in the last quarter. Norges Bank purchased a new stake in Brunswick in the 4th quarter valued at approximately $53,519,000. Victory Capital Management Inc. increased its position in Brunswick by 127.6% during the 3rd quarter. Victory Capital Management Inc. now owns 866,226 shares of the company’s stock worth $68,432,000 after purchasing an additional 485,588 shares during the period. Morgan Stanley increased its position in Brunswick by 100.6% during the 4th quarter. Morgan Stanley now owns 953,791 shares of the company’s stock worth $68,749,000 after purchasing an additional 478,329 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Brunswick during the 1st quarter worth approximately $17,428,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BC has been the topic of a number of recent analyst reports. B. Riley raised Brunswick from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $100.00 to $108.00 in a report on Tuesday, February 20th. Roth Mkm increased their price target on shares of Brunswick from $85.00 to $94.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Raymond James downgraded shares of Brunswick from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. DA Davidson reaffirmed a “neutral” rating and issued a $77.00 target price on shares of Brunswick in a report on Friday, March 15th. Finally, Stifel Nicolaus lifted their price target on shares of Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Brunswick currently has an average rating of “Moderate Buy” and a consensus target price of $92.69.

Brunswick Price Performance

Brunswick stock traded up $0.02 during mid-day trading on Thursday, hitting $82.84. 35,000 shares of the company were exchanged, compared to its average volume of 731,133. Brunswick Co. has a 12-month low of $66.47 and a 12-month high of $99.68. The company has a market capitalization of $5.70 billion, a P/E ratio of 13.91 and a beta of 1.56. The business’s 50 day simple moving average is $89.44 and its two-hundred day simple moving average is $84.49. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 0.59.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.21). The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The company’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.99 EPS. Analysts forecast that Brunswick Co. will post 7.49 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were paid a dividend of $0.42 per share. This is an increase from Brunswick’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.68 annualized dividend and a dividend yield of 2.03%. Brunswick’s dividend payout ratio is presently 28.24%.

Insider Buying and Selling

In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the transaction, the vice president now owns 35,176 shares of the company’s stock, valued at approximately $2,973,427.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the sale, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the transaction, the vice president now directly owns 35,176 shares of the company’s stock, valued at approximately $2,973,427.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,696 shares of company stock worth $4,574,199. 0.81% of the stock is owned by insiders.

Brunswick 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.