Brunswick Corporation (NYSE:BC) Shares Sold by Vestcor Inc

Vestcor Inc lowered its position in shares of Brunswick Corporation (NYSE:BC - Free Report) by 73.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,174 shares of the company's stock after selling 11,832 shares during the period. Vestcor Inc's holdings in Brunswick were worth $225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hudson Edge Investment Partners Inc. increased its position in Brunswick by 63.2% in the 1st quarter. Hudson Edge Investment Partners Inc. now owns 12,361 shares of the company's stock valued at $666,000 after acquiring an additional 4,787 shares during the period. Bank of New York Mellon Corp increased its position in Brunswick by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 770,820 shares of the company's stock valued at $41,509,000 after acquiring an additional 4,311 shares during the period. GAMMA Investing LLC increased its position 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 acquiring an additional 475 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Brunswick by 7.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,349 shares of the company's stock valued at $396,000 after acquiring an additional 484 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Brunswick by 5.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 207,988 shares of the company's stock valued at $11,200,000 after acquiring an additional 10,173 shares during the period. Institutional investors and hedge funds own 99.34% of the company's stock.

Analysts Set New Price Targets

BC has been the topic of several recent research reports. BMO Capital Markets dropped their price target on Brunswick from $75.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. DA Davidson boosted their price target on Brunswick from $43.00 to $59.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Benchmark initiated coverage on Brunswick in a research report on Monday, April 28th. They issued a "buy" rating and a $70.00 price target on the stock. Robert W. Baird boosted their price target on Brunswick from $56.00 to $60.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Roth Capital lifted their price objective on Brunswick from $60.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.25.

Brunswick Price Performance

Shares of NYSE:BC opened at $58.81 on Tuesday. The business's 50 day simple moving average is $57.32 and its 200-day simple moving average is $56.21. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 94.85 and a beta of 1.28. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.68 and a quick ratio of 0.70. Brunswick Corporation has a 12 month low of $41.00 and a 12 month high of $87.65.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.89 by $0.27. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.25 billion. Brunswick had a return on equity of 10.73% and a net margin of 0.82%. The company's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.80 EPS. As a group, equities analysts forecast that Brunswick Corporation will post 4.19 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 20th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.72 annualized dividend and a dividend yield of 2.9%. Brunswick's payout ratio is 277.42%.

Insider Activity at Brunswick

In other news, VP Christopher F. Dekker sold 2,092 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $58.47, for a total transaction of $122,319.24. Following the sale, the vice president owned 44,466 shares of the company's stock, valued at $2,599,927.02. The trade was a 4.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is owned by company 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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