Brunswick Co. (NYSE:BC) Short Interest Update

Brunswick Co. (NYSE:BC) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 3,740,000 shares, a drop of 6.3% from the October 31st total of 3,990,000 shares. Based on an average daily volume of 566,300 shares, the short-interest ratio is currently 6.6 days. Approximately 5.8% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $100.00 target price on shares of Brunswick in a research report on Friday, October 25th. B. Riley cut shares of Brunswick from a “buy” rating to a “neutral” rating and reduced their price target for the company from $95.00 to $88.00 in a report on Tuesday, November 26th. Finally, Citigroup raised their price objective on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.54.

Insider Activity at Brunswick

In related news, Director Nancy E. Cooper sold 366 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.19, for a total transaction of $29,349.54. Following the transaction, the director now owns 24,557 shares of the company’s stock, valued at approximately $1,969,225.83. The trade was a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David M. Foulkes sold 23,829 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total value of $1,911,562.38. Following the completion of the sale, the chief executive officer now owns 251,094 shares of the company’s stock, valued at $20,142,760.68. This represents a 8.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,940 shares of company stock valued at $2,321,176. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BC. Baillie Gifford & Co. raised its holdings in shares of Brunswick by 88.0% during the second quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock valued at $176,903,000 after purchasing an additional 1,137,568 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Brunswick by 17.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after acquiring an additional 452,116 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Brunswick by 1,120.5% in the 3rd quarter. Janus Henderson Group PLC now owns 354,631 shares of the company’s stock worth $29,725,000 after purchasing an additional 325,574 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Brunswick by 447.5% during the 3rd quarter. New York State Common Retirement Fund now owns 271,681 shares of the company’s stock worth $22,772,000 after acquiring an additional 222,062 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of Brunswick in the 3rd quarter worth $15,907,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Price Performance

NYSE BC traded down $0.44 during trading hours on Tuesday, reaching $79.47. 620,010 shares of the stock traded hands, compared to its average volume of 464,443. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74. The stock has a 50 day simple moving average of $81.71 and a two-hundred day simple moving average of $78.69. Brunswick has a 1 year low of $69.05 and a 1 year high of $99.68. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 19.77 and a beta of 1.50.

Brunswick Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, November 20th. Brunswick’s payout ratio is currently 41.79%.

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.