Bayforest Capital Ltd Invests $496,000 in Brunswick Corporation (NYSE:BC)

Key Points

• Bayforest Capital Ltd has initiated a new investment in Brunswick Corporation (NYSE:BC), acquiring 9,215 shares valued at approximately $496,000 during the first quarter.
• Brunswick Corporation reported earnings of $1.16 EPS for the last quarter, exceeding expectations of $0.89 EPS, with revenue of $1.45 billion.
• The company has declared a $0.43 quarterly dividend, set to be paid on September 15th, with a current annualized dividend yield of 2.91%.

Bayforest Capital Ltd bought a new position in Brunswick Corporation (NYSE:BC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,215 shares of the company's stock, valued at approximately $496,000.

Several other large investors have also recently added to or reduced their stakes in BC. Allworth Financial LP increased its holdings in shares of Brunswick by 4,972.7% during the first quarter. Allworth Financial LP now owns 558 shares of the company's stock valued at $30,000 after purchasing an additional 547 shares during the period. UMB Bank n.a. increased its holdings in shares of Brunswick by 695.7% during the first quarter. UMB Bank n.a. now owns 732 shares of the company's stock valued at $39,000 after purchasing an additional 640 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Brunswick by 171.6% during the first quarter. First Horizon Advisors Inc. now owns 755 shares of the company's stock valued at $41,000 after purchasing an additional 477 shares during the period. Signaturefd LLC increased its holdings in shares of Brunswick by 451.0% during the first quarter. Signaturefd LLC now owns 810 shares of the company's stock valued at $44,000 after purchasing an additional 663 shares during the period. Finally, Quarry LP acquired a new position in shares of Brunswick during the fourth quarter valued at $45,000. 99.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BC. BMO Capital Markets lowered their target price on Brunswick from $75.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Robert W. Baird lifted their target price on Brunswick from $56.00 to $60.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. DA Davidson lifted their target price on Brunswick from $43.00 to $59.00 and gave the stock a "neutral" rating in a report on Monday. Citigroup reaffirmed a "buy" rating and set a $68.00 target price (up from $61.00) on shares of Brunswick in a report on Monday, June 16th. Finally, Jefferies Financial Group lowered their target price on Brunswick from $64.00 to $45.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.25.

Brunswick Stock Performance

Shares of NYSE BC traded down $1.67 during trading hours on Friday, reaching $56.62. The stock had a trading volume of 1,158,162 shares, compared to its average volume of 952,668. The business's fifty day moving average is $57.14 and its two-hundred day moving average is $56.42. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.68 and a quick ratio of 0.70. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 91.32 and a beta of 1.27. Brunswick Corporation has a twelve month low of $41.00 and a twelve month high of $87.65.

Brunswick (NYSE:BC - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.27. Brunswick had a return on equity of 10.73% and a net margin of 0.82%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company posted $1.80 earnings per share. The business's revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts expect that Brunswick Corporation will post 4.19 EPS for the current year.

Brunswick Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 20th will be issued a $0.43 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $1.72 annualized dividend and a yield of 3.0%. Brunswick's dividend payout ratio (DPR) is currently 277.42%.

Insider Transactions at Brunswick

In other Brunswick 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 value of $122,319.24. Following the transaction, the vice president owned 44,466 shares of the company's stock, valued at approximately $2,599,927.02. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.81% of the stock is currently owned by corporate 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.