Bank of America Corp DE Cuts Stake in Brunswick Co. (NYSE:BC)

Bank of America Corp DE lowered its stake in Brunswick Co. (NYSE:BC - Free Report) by 64.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 138,444 shares of the company's stock after selling 253,982 shares during the quarter. Bank of America Corp DE owned 0.21% of Brunswick worth $8,955,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Perspectives Inc acquired a new position in shares of Brunswick during the fourth quarter valued at approximately $42,000. Quarry LP acquired a new position in Brunswick in the 4th quarter valued at $45,000. KBC Group NV lifted its holdings in Brunswick by 42.8% in the 4th quarter. KBC Group NV now owns 2,892 shares of the company's stock valued at $187,000 after purchasing an additional 867 shares in the last quarter. Stevens Capital Management LP purchased a new position in Brunswick in the 4th quarter valued at $203,000. Finally, Tower Research Capital LLC TRC boosted its stake in Brunswick by 121.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,295 shares of the company's stock worth $213,000 after purchasing an additional 1,809 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

Insider Activity

In other news, SVP Randall S. Altman sold 3,417 shares of Brunswick stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total value of $215,988.57. Following the completion of the sale, the senior vice president now directly owns 26,683 shares of the company's stock, valued at approximately $1,686,632.43. The trade was a 11.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BC shares. BMO Capital Markets reduced their target price on shares of Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Jefferies Financial Group cut their price objective on shares of Brunswick from $64.00 to $45.00 and set a "hold" rating for the company in a report on Thursday, April 24th. DA Davidson reissued a "neutral" rating and issued a $43.00 target price (down from $64.00) on shares of Brunswick in a research note on Monday, April 28th. Morgan Stanley upped their price target on Brunswick from $64.00 to $65.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Finally, Baird R W cut Brunswick from a "strong-buy" rating to a "hold" rating in a report 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's stock. Based on data from MarketBeat.com, Brunswick currently has an average rating of "Moderate Buy" and a consensus price target of $71.31.

Brunswick Trading Up 2.9%

Brunswick stock traded up $1.43 during mid-day trading on Tuesday, hitting $51.19. The company's stock had a trading volume of 747,126 shares, compared to its average volume of 793,533. The stock's fifty day moving average is $48.95 and its two-hundred day moving average is $61.63. 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 firm has a market capitalization of $3.36 billion, a PE ratio of 26.94 and a beta of 1.28. Brunswick Co. has a 1 year low of $41.00 and a 1 year high of $87.65.

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

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Monday, May 19th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Monday, May 19th. Brunswick's dividend payout ratio (DPR) is 142.15%.

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.