Copeland Capital Management LLC Sells 22,308 Shares of Brunswick Corporation (NYSE:BC)

Copeland Capital Management LLC cut its holdings in Brunswick Corporation (NYSE:BC - Free Report) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 901,454 shares of the company's stock after selling 22,308 shares during the quarter. Copeland Capital Management LLC owned approximately 1.37% of Brunswick worth $48,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BC. Bank of New York Mellon Corp grew its position in shares of Brunswick by 16.7% in the 4th quarter. Bank of New York Mellon Corp now owns 766,509 shares of the company's stock worth $49,578,000 after buying an additional 109,728 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Brunswick in the 4th quarter worth about $2,827,000. QRG Capital Management Inc. grew its position in shares of Brunswick by 4.5% in the 4th quarter. QRG Capital Management Inc. now owns 20,288 shares of the company's stock worth $1,312,000 after buying an additional 879 shares during the period. Levin Capital Strategies L.P. grew its position in shares of Brunswick by 5.5% in the 4th quarter. Levin Capital Strategies L.P. now owns 91,504 shares of the company's stock worth $5,918,000 after buying an additional 4,809 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Brunswick by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 715,358 shares of the company's stock worth $46,269,000 after buying an additional 14,089 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on BC shares. Baird R W downgraded shares of Brunswick from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Citigroup restated a "buy" rating and set a $68.00 price objective (up from $61.00) on shares of Brunswick in a research note on Monday, June 16th. Jefferies Financial Group reduced their price objective on shares of Brunswick from $64.00 to $45.00 and set a "hold" rating for the company 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 for the company in a research note on Monday, April 14th. Finally, Benchmark began coverage on shares of Brunswick in a research note on Monday, April 28th. They set a "buy" rating and a $70.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $70.00.

Insider Buying and Selling

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of the company'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 value of $122,319.24. Following the completion of the transaction, the vice president now directly owns 44,466 shares in the company, valued at $2,599,927.02. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.81% of the stock is currently owned by insiders.

Brunswick Stock Performance

Shares of NYSE BC traded up $0.13 during trading on Friday, reaching $55.62. 985,588 shares of the company traded hands, compared to its average volume of 814,145. 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 stock has a market capitalization of $3.65 billion, a PE ratio of 45.96 and a beta of 1.27. The firm has a 50 day simple moving average of $51.62 and a 200-day simple moving average of $57.58. Brunswick Corporation has a 52-week low of $41.00 and a 52-week 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.31. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.14 billion. Brunswick had a net margin of 1.62% and a return on equity of 12.88%. The firm's revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.35 earnings per share. Equities research analysts anticipate that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Dividend Announcement

The firm also recently disclosed 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 was Monday, May 19th. Brunswick's payout ratio is 142.15%.

Brunswick 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.