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

Copeland Capital Management LLC cut its stake in Brunswick Corporation (NYSE:BC - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 901,454 shares of the company's stock after selling 22,308 shares during the period. Copeland Capital Management LLC owned approximately 1.37% of Brunswick worth $48,543,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in Brunswick by 695.7% in the first quarter. UMB Bank n.a. now owns 732 shares of the company's stock valued at $39,000 after buying an additional 640 shares during the period. Quarry LP acquired a new position in shares of Brunswick during the 4th quarter valued at $45,000. Fifth Third Bancorp boosted its position in Brunswick by 33.3% during the 1st quarter. Fifth Third Bancorp now owns 1,078 shares of the company's stock worth $58,000 after purchasing an additional 269 shares during the period. GAMMA Investing LLC increased its holdings in Brunswick by 59.3% in the 1st quarter. GAMMA Investing LLC now owns 1,276 shares of the company's stock valued at $69,000 after purchasing an additional 475 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new position in Brunswick in the fourth quarter valued at about $203,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of Brunswick 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 sale, the vice president directly owned 44,466 shares in the company, valued at $2,599,927.02. The trade was 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 available through the SEC website. Corporate insiders own 0.85% of the company's stock.

Brunswick Trading Up 4.7%

BC stock traded up $2.62 during mid-day trading on Tuesday, reaching $57.86. 1,213,996 shares of the stock traded hands, compared to its average volume of 815,248. Brunswick Corporation has a 52-week low of $41.00 and a 52-week high of $87.65. The company has a current ratio of 1.57, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. The company has a market cap of $3.80 billion, a P/E ratio of 47.82 and a beta of 1.27. The stock's fifty day moving average is $51.86 and its 200-day moving average is $57.33.

Brunswick (NYSE:BC - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.31. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.14 billion. Brunswick had a net margin of 1.62% and a return on equity of 12.88%. The company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS. As a group, sell-side analysts expect that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 19th were paid a $0.43 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.72 annualized dividend and a dividend yield of 2.97%. Brunswick's payout ratio is 142.15%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial dropped 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. Baird R W lowered shares of Brunswick from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. BMO Capital Markets cut their target price on shares of Brunswick from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Robert W. Baird lifted their price target on Brunswick from $56.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, DA Davidson restated a "neutral" rating and set a $43.00 price objective (down previously from $64.00) on shares of Brunswick in a research note on Monday, April 28th. Seven 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 has a consensus rating of "Moderate Buy" and a consensus price target of $70.00.

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.