Bank of New York Mellon Corp Grows Position in Brunswick Corporation (NYSE:BC)

Bank of New York Mellon Corp increased its position in shares of Brunswick Corporation (NYSE:BC - Free Report) by 0.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 770,820 shares of the company's stock after purchasing an additional 4,311 shares during the period. Bank of New York Mellon Corp owned approximately 1.17% of Brunswick worth $41,509,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BC. Proficio Capital Partners LLC bought a new stake in Brunswick during the 4th quarter valued at about $2,827,000. PNC Financial Services Group Inc. lifted its holdings in Brunswick by 56.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,537 shares of the company's stock valued at $358,000 after buying an additional 1,992 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Brunswick by 20.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,587 shares of the company's stock valued at $1,138,000 after buying an additional 2,956 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Brunswick by 82.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 21,285 shares of the company's stock valued at $1,377,000 after buying an additional 9,595 shares in the last quarter. Finally, Vestcor Inc lifted its holdings in Brunswick by 207.6% during the 4th quarter. Vestcor Inc now owns 16,006 shares of the company's stock valued at $1,035,000 after buying an additional 10,802 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BC shares. BMO Capital Markets decreased their price objective on shares of Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Truist Financial decreased their price objective on shares of Brunswick from $85.00 to $60.00 and set a "buy" rating for the company in a report on Monday, April 14th. Jefferies Financial Group reduced their price target 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 restated a "neutral" rating and issued a $43.00 price target (down previously from $64.00) on shares of Brunswick in a report on Monday, April 28th. Finally, Baird R W lowered shares of Brunswick from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Brunswick presently has a consensus rating of "Moderate Buy" and an average target price of $70.00.

Insiders Place Their Bets

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $58.47, for a total transaction of $122,319.24. Following the sale, the vice president owned 44,466 shares of the company's stock, valued at approximately $2,599,927.02. The trade was a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.81% of the company's stock.

Brunswick Stock Up 2.2%

Shares of NYSE BC traded up $1.27 during trading hours on Thursday, hitting $59.62. 701,648 shares of the stock were exchanged, compared to its average volume of 807,728. The company has a quick ratio of 0.65, a current ratio of 1.57 and a debt-to-equity ratio of 1.12. The company has a market cap of $3.92 billion, a PE ratio of 49.28 and a beta of 1.27. The firm has a fifty day moving average price of $55.23 and a 200-day moving average price of $56.77. Brunswick Corporation has a 12 month low of $41.00 and a 12 month high of $87.65.

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

Brunswick Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.88%. The ex-dividend date is Wednesday, August 20th. Brunswick's dividend payout ratio is presently 142.15%.

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.