Brunswick Corporation (NYSE:BC) Position Reduced by Global Alpha Capital Management Ltd.

Key Points

• Global Alpha Capital Management Ltd. has reduced its stake in Brunswick Corporation by 10.9% during the first quarter, owning approximately 0.33% of the company's shares worth $11,574,000.
• A number of research firms have issued revised price targets for Brunswick, with Jefferies Financial Group lowering theirs from $64.00 to $45.00, indicating a shift in market sentiment.
• Brunswick recently announced a quarterly dividend of $0.43, which equates to an annualized yield of 3.0%, despite a high dividend payout ratio of 277.42%.

Global Alpha Capital Management Ltd. trimmed its stake in shares of Brunswick Corporation (NYSE:BC - Free Report) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 214,928 shares of the company's stock after selling 26,400 shares during the quarter. Global Alpha Capital Management Ltd. owned approximately 0.33% of Brunswick worth $11,574,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Deutsche Bank AG boosted its stake in Brunswick by 0.6% during the 4th quarter. Deutsche Bank AG now owns 28,031 shares of the company's stock valued at $1,813,000 after acquiring an additional 160 shares during the last quarter. Fifth Third Bancorp boosted its stake in Brunswick by 33.3% during the 1st quarter. Fifth Third Bancorp now owns 1,078 shares of the company's stock valued at $58,000 after acquiring an additional 269 shares during the last quarter. Peterson Wealth Services boosted its stake in Brunswick by 2.5% during the 1st quarter. Peterson Wealth Services now owns 13,599 shares of the company's stock valued at $732,000 after acquiring an additional 331 shares during the last quarter. Snowden Capital Advisors LLC boosted its stake in Brunswick by 6.4% during the 4th quarter. Snowden Capital Advisors LLC now owns 6,297 shares of the company's stock valued at $407,000 after acquiring an additional 378 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Brunswick by 59.3% during the 1st quarter. GAMMA Investing LLC now owns 1,276 shares of the company's stock valued at $69,000 after acquiring an additional 475 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BC. Jefferies Financial Group reduced their price objective on shares of Brunswick from $64.00 to $45.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Truist Financial reduced their price objective on shares of Brunswick from $85.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Benchmark began coverage on shares of Brunswick in a report on Monday, April 28th. They set a "buy" rating and a $70.00 target price on the stock. Citigroup reissued 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, BMO Capital Markets dropped their target price on shares of Brunswick from $75.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Brunswick currently has an average rating of "Moderate Buy" and an average price target of $68.25.

Brunswick Stock Down 0.6%

BC stock opened at $56.87 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.68 and a debt-to-equity ratio of 1.10. Brunswick Corporation has a fifty-two week low of $41.00 and a fifty-two week high of $87.65. The firm's 50-day simple moving average is $57.88 and its 200 day simple moving average is $56.09. The stock has a market cap of $3.72 billion, a PE ratio of 91.73 and a beta of 1.28.

Brunswick (NYSE:BC - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.27. Brunswick had a net margin of 0.82% and a return on equity of 10.73%. The business had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter last year, the company earned $1.80 EPS. The company's revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts predict 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. Investors of record on Wednesday, August 20th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, August 20th. Brunswick's dividend payout ratio is currently 277.42%.

Insider Transactions at Brunswick

In related news, VP Christopher F. Dekker sold 2,092 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $58.47, for a total value of $122,319.24. Following the completion of the transaction, the vice president owned 44,466 shares in the company, valued at $2,599,927.02. This represents a 4.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.81% of the stock is owned by corporate insiders.

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.

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