Cresset Asset Management LLC Trims Holdings in Brunswick Co. (NYSE:BC)

Cresset Asset Management LLC lessened its holdings in Brunswick Co. (NYSE:BC - Free Report) by 69.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,706 shares of the company's stock after selling 10,824 shares during the quarter. Cresset Asset Management LLC's holdings in Brunswick were worth $304,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Armstrong Advisory Group Inc. acquired a new stake in shares of Brunswick in the 4th quarter valued at approximately $39,000. Financial Perspectives Inc acquired a new position in shares of Brunswick in the 4th quarter valued at $42,000. Quarry LP bought a new position in Brunswick during the fourth quarter worth about $45,000. KBC Group NV grew its stake in Brunswick by 42.8% in the fourth quarter. KBC Group NV now owns 2,892 shares of the company's stock valued at $187,000 after acquiring an additional 867 shares during the period. Finally, Stevens Capital Management LP bought a new stake in shares of Brunswick in the fourth quarter worth about $203,000. 99.34% of the stock is owned by institutional investors.

Brunswick Trading Up 1.4%

BC stock traded up $0.69 during mid-day trading on Thursday, reaching $50.77. The company's stock had a trading volume of 619,078 shares, compared to its average volume of 789,029. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 26.69 and a beta of 1.28. Brunswick Co. has a 12 month low of $41.00 and a 12 month high of $87.65. The company has a current ratio of 1.65, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. The business's 50 day moving average price is $49.40 and its 200 day moving average price is $62.61.

Brunswick (NYSE:BC - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.31. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm earned $1.35 earnings per share. Brunswick's revenue was down 10.5% on a year-over-year basis. On average, equities research analysts predict that Brunswick Co. will post 4.19 EPS for the current year.

Brunswick Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, May 19th will be paid a $0.43 dividend. The ex-dividend date is Monday, May 19th. This represents a $1.72 dividend on an annualized basis and a yield of 3.39%. Brunswick's dividend payout ratio (DPR) is presently 142.15%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. DA Davidson reiterated a "neutral" rating and issued a $43.00 price objective (down from $64.00) on shares of Brunswick in a research report on Monday, April 28th. Citigroup dropped their price objective on shares of Brunswick from $92.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Jefferies Financial Group lowered their target price on Brunswick from $64.00 to $45.00 and set a "hold" rating for the company in a report on Thursday, April 24th. Truist Financial reduced their price target on Brunswick from $85.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Roth Mkm cut their price objective on shares of Brunswick from $91.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $71.31.

Insider Transactions at Brunswick

In related news, SVP Randall S. Altman sold 3,417 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total value of $215,988.57. Following the transaction, the senior vice president now owns 26,683 shares of the company's stock, valued at approximately $1,686,632.43. This trade represents a 11.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.85% of the stock is owned by insiders.

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.