Bank of America Corp DE Sells 253,982 Shares of Brunswick Co. (NYSE:BC)

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

A number of other large investors have also added to or reduced their stakes in BC. Barclays PLC raised its stake in Brunswick by 78.6% in the 3rd quarter. Barclays PLC now owns 118,189 shares of the company's stock valued at $9,907,000 after acquiring an additional 52,024 shares during the period. Inspire Investing LLC raised its stake in Brunswick by 22.7% in the 4th quarter. Inspire Investing LLC now owns 6,805 shares of the company's stock valued at $440,000 after acquiring an additional 1,260 shares during the period. KBC Group NV raised its stake 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 acquiring an additional 867 shares during the period. Pacer Advisors Inc. raised its stake in Brunswick by 2.0% in the 4th quarter. Pacer Advisors Inc. now owns 9,861 shares of the company's stock valued at $638,000 after acquiring an additional 190 shares during the period. Finally, Hunter Associates Investment Management LLC increased its position in Brunswick by 2.5% during the 4th quarter. Hunter Associates Investment Management LLC now owns 18,127 shares of the company's stock worth $1,170,000 after buying an additional 447 shares during the period. Institutional investors own 99.34% of the company's stock.

Brunswick Price Performance

NYSE:BC traded down $0.70 during trading hours on Wednesday, hitting $50.56. The company's stock had a trading volume of 196,020 shares, compared to its average volume of 791,238. The stock has a fifty day simple moving average of $48.84 and a 200-day simple moving average of $61.56. The company has a market capitalization of $3.32 billion, a P/E ratio of 26.69 and a beta of 1.28. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63. Brunswick Co. has a twelve month low of $41.00 and a twelve month high of $87.65.

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

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Monday, May 19th will be issued a dividend of $0.43 per share. The ex-dividend date is Monday, May 19th. This represents a $1.72 annualized dividend and a yield of 3.40%. Brunswick's payout ratio is 142.15%.

Analyst Ratings Changes

Several research firms have weighed in on BC. Morgan Stanley increased their price objective on Brunswick from $64.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Jefferies Financial Group lowered their price objective on Brunswick from $64.00 to $45.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Truist Financial lowered their price objective on Brunswick from $85.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Baird R W cut Brunswick from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Benchmark assumed coverage on Brunswick in a research report on Monday, April 28th. They set a "buy" rating and a $70.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $71.31.

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.