Crossmark Global Holdings Inc. Sells 45,861 Shares of Brunswick Corporation (NYSE:BC)

Crossmark Global Holdings Inc. cut its position in shares of Brunswick Corporation (NYSE:BC - Free Report) by 49.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 47,013 shares of the company's stock after selling 45,861 shares during the quarter. Crossmark Global Holdings Inc. owned 0.07% of Brunswick worth $2,532,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. FIL Ltd boosted its stake in shares of Brunswick by 323.9% during the 4th quarter. FIL Ltd now owns 1,114,324 shares of the company's stock worth $72,074,000 after acquiring an additional 851,449 shares in the last quarter. Turtle Creek Asset Management Inc. boosted its stake in shares of Brunswick by 19.7% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,965,460 shares of the company's stock worth $191,806,000 after acquiring an additional 488,412 shares in the last quarter. Norges Bank bought a new stake in shares of Brunswick during the 4th quarter worth $30,097,000. Raymond James Financial Inc. acquired a new stake in shares of Brunswick in the fourth quarter worth $29,646,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Brunswick by 18.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,757,186 shares of the company's stock valued at $113,655,000 after buying an additional 269,413 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. DA Davidson reissued a "neutral" rating and set a $43.00 price target (down from $64.00) on shares of Brunswick in a research report on Monday, April 28th. Jefferies Financial Group dropped their target price on Brunswick from $64.00 to $45.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Truist Financial reduced their price target on shares of Brunswick from $85.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, April 14th. BMO Capital Markets lowered their price objective on shares of Brunswick from $75.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Citigroup reiterated a "buy" rating and issued a $68.00 price objective (up previously from $61.00) on shares of Brunswick in a research note on Monday, June 16th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $70.00.

Brunswick Stock Down 1.3%

NYSE:BC traded down $0.82 during trading hours on Friday, reaching $60.68. The company's stock had a trading volume of 728,244 shares, compared to its average volume of 811,354. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 50.15 and a beta of 1.27. Brunswick Corporation has a one year low of $41.00 and a one year high of $87.65. The business's 50-day moving average is $54.23 and its 200-day moving average is $56.82. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.57 and a quick ratio of 0.65.

Brunswick (NYSE:BC - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.31. The firm 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 business's revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.35 EPS. Equities research analysts predict that Brunswick Corporation will post 4.19 EPS for the current year.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, May 19th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Monday, May 19th. Brunswick's dividend payout ratio is 142.15%.

Insider Activity 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 sale, the vice president 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.81% of the company's stock.

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.