GAMMA Investing LLC Buys 67,912 Shares of Brunswick Co. (NYSE:BC)

GAMMA Investing LLC grew its stake in Brunswick Co. (NYSE:BC - Free Report) by 8,478.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,713 shares of the company's stock after purchasing an additional 67,912 shares during the period. GAMMA Investing LLC owned approximately 0.10% of Brunswick worth $3,700,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Financial Perspectives Inc acquired a new position in Brunswick during the fourth quarter worth $42,000. Quarry LP purchased a new position in Brunswick during the fourth quarter worth about $45,000. Stevens Capital Management LP purchased a new position in Brunswick during the fourth quarter worth about $203,000. Tower Research Capital LLC TRC lifted its position in Brunswick by 121.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,295 shares of the company's stock worth $213,000 after buying an additional 1,809 shares during the period. Finally, Tidal Investments LLC acquired a new stake in Brunswick during the fourth quarter worth about $218,000. Institutional investors and hedge funds own 99.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. DA Davidson restated a "neutral" rating and set a $43.00 price target (down from $64.00) on shares of Brunswick in a research note on Monday, April 28th. Robert W. Baird increased their price target on Brunswick from $56.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Baird R W lowered Brunswick from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. BMO Capital Markets decreased their target price on Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, Truist Financial cut their price target on Brunswick from $85.00 to $60.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $71.31.

Insider Transactions at Brunswick

In related news, VP Christopher F. Dekker sold 2,092 shares of Brunswick stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $58.47, for a total transaction of $122,319.24. Following the completion of the sale, the vice president now owns 44,466 shares of the company's stock, valued at approximately $2,599,927.02. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.81% of the stock is currently owned by insiders.

Brunswick Price Performance

Shares of BC stock traded down $1.74 during mid-day trading on Friday, hitting $55.61. 798,180 shares of the stock traded hands, compared to its average volume of 820,837. Brunswick Co. has a twelve month low of $41.00 and a twelve month high of $87.65. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 29.27 and a beta of 1.27. The company's 50-day simple moving average is $49.38 and its 200-day simple moving average is $59.15. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65.

Brunswick (NYSE:BC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.31. The company had revenue of $1.22 billion for 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 firm's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the firm earned $1.35 EPS. As a group, equities research analysts expect that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 19th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, May 19th. Brunswick's payout ratio is 142.15%.

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.