Brunswick Corporation (NYSE:BC) Plans $0.43 Quarterly Dividend

Brunswick Corporation (NYSE:BC - Get Free Report) declared a quarterly dividend on Monday, July 14th, RTT News reports. Shareholders of record on Wednesday, August 20th will be paid a dividend of 0.43 per share on Monday, September 15th. This represents a $1.72 annualized dividend and a yield of 2.94%. The ex-dividend date is Wednesday, August 20th.

Brunswick has a dividend payout ratio of 42.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Brunswick to earn $5.35 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 32.1%.

Brunswick Stock Performance

Shares of NYSE:BC traded up $0.14 during trading on Thursday, hitting $58.49. 27,399 shares of the stock were exchanged, compared to its average volume of 805,758. Brunswick has a 1-year low of $41.00 and a 1-year high of $87.65. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 48.52 and a beta of 1.27. The company's fifty day simple moving average is $55.00 and its 200-day simple moving average is $56.81. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 1.57.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.31. Brunswick had a return on equity of 12.88% and a net margin of 1.62%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm earned $1.35 EPS. Brunswick's revenue for the quarter was down 10.5% compared to the same quarter last year. Sell-side analysts expect that Brunswick will post 4.19 EPS for the current fiscal year.

Analyst Ratings Changes

BC has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price objective on Brunswick from $56.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. DA Davidson reaffirmed a "neutral" rating and set a $43.00 price target (down previously from $64.00) on shares of Brunswick in a research note on Monday, April 28th. Citigroup reaffirmed a "buy" rating and set a $68.00 price target (up previously from $61.00) on shares of Brunswick in a research note on Monday, June 16th. BMO Capital Markets cut their price target on Brunswick from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Baird R W lowered Brunswick from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Brunswick presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.00.

Insider Activity

In related news, VP Christopher F. Dekker sold 2,092 shares of the 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 completion of the transaction, the vice president directly owned 44,466 shares in the company, valued at approximately $2,599,927.02. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.81% of the company's stock.

Institutional Trading of Brunswick

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in Brunswick by 10.7% during the 1st quarter. Royal Bank of Canada now owns 149,000 shares of the company's stock worth $8,024,000 after purchasing an additional 14,395 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Brunswick by 133.6% during the 1st quarter. AQR Capital Management LLC now owns 77,326 shares of the company's stock worth $4,076,000 after purchasing an additional 44,228 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Brunswick by 142.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 346,503 shares of the company's stock worth $18,659,000 after purchasing an additional 203,838 shares during the last quarter. United Services Automobile Association bought a new position in Brunswick during the 1st quarter worth $214,000. Finally, Geneos Wealth Management Inc. increased its stake in Brunswick by 477.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 727 shares of the company's stock worth $39,000 after acquiring an additional 601 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

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.