Brunswick Corporation (NYSE:BC) Shares Sold 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 Brunswick Corporation (NYSE:BC - Free Report) by 10.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 214,928 shares of the company's stock after selling 26,400 shares during the period. Global Alpha Capital Management Ltd. owned about 0.33% of Brunswick worth $11,574,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Covestor Ltd increased its stake in Brunswick by 86.2% in the 1st quarter. Covestor Ltd now owns 1,950 shares of the company's stock valued at $105,000 after buying an additional 903 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Brunswick in the 1st quarter valued at approximately $826,000. Deutsche Bank AG grew its stake in Brunswick by 1.9% in the 1st quarter. Deutsche Bank AG now owns 28,563 shares of the company's stock valued at $1,538,000 after buying an additional 532 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Brunswick by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 723,748 shares of the company's stock valued at $38,974,000 after buying an additional 8,390 shares in the last quarter. Finally, Levin Capital Strategies L.P. grew its stake in Brunswick by 14.7% in the 1st quarter. Levin Capital Strategies L.P. now owns 104,925 shares of the company's stock valued at $5,650,000 after buying an additional 13,421 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $58.47, for a total value of $122,319.24. Following the transaction, the vice president directly owned 44,466 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BC shares. DA Davidson boosted their price target on shares of Brunswick from $43.00 to $59.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. BMO Capital Markets reduced their price target on shares of Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Benchmark began coverage on shares of Brunswick in a research report on Monday, April 28th. They set a "buy" rating and a $70.00 price target for the company. Jefferies Financial Group dropped their price objective 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. Finally, Citigroup reaffirmed a "buy" rating and set a $68.00 price objective (up from $61.00) on shares of Brunswick in a report on Monday, June 16th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Brunswick has an average rating of "Moderate Buy" and an average target price of $68.25.

Brunswick Stock Up 7.2%

Shares of NYSE:BC traded up $4.37 during trading on Wednesday, hitting $64.85. The stock had a trading volume of 932,305 shares, compared to its average volume of 963,478. Brunswick Corporation has a 12 month low of $41.00 and a 12 month high of $87.65. The company has a market capitalization of $4.24 billion, a PE ratio of 104.45 and a beta of 1.28. The firm's fifty day moving average is $58.17 and its 200 day moving average is $55.87. 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 (NYSE:BC - Get Free Report) last announced 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. The business had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.25 billion. Brunswick had a net margin of 0.82% and a return on equity of 10.73%. The business's revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.80 earnings per share. Analysts anticipate that Brunswick Corporation will post 4.19 EPS for the current fiscal year.

Brunswick Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 20th will be given a dividend of $0.43 per share. The ex-dividend date is Wednesday, August 20th. This represents a $1.72 dividend on an annualized basis and a yield of 2.7%. Brunswick's dividend payout ratio is 277.42%.

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.