Victory Capital Management Inc. Sells 536,404 Shares of Brunswick Corporation (NYSE:BC)

Victory Capital Management Inc. trimmed its stake in shares of Brunswick Corporation (NYSE:BC - Free Report) by 48.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 580,856 shares of the company's stock after selling 536,404 shares during the period. Victory Capital Management Inc. owned approximately 0.88% of Brunswick worth $31,279,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Deutsche Bank AG raised its position in shares of Brunswick by 0.6% in the 4th quarter. Deutsche Bank AG now owns 28,031 shares of the company's stock valued at $1,813,000 after acquiring an additional 160 shares during the period. Fifth Third Bancorp boosted its position in shares of Brunswick by 33.3% during the first quarter. Fifth Third Bancorp now owns 1,078 shares of the company's stock worth $58,000 after purchasing an additional 269 shares in the last quarter. Xponance Inc. increased its position in shares of Brunswick by 4.9% in the 4th quarter. Xponance Inc. now owns 7,617 shares of the company's stock valued at $493,000 after buying an additional 359 shares in the last quarter. Snowden Capital Advisors LLC raised its stake in Brunswick by 6.4% during the 4th quarter. Snowden Capital Advisors LLC now owns 6,297 shares of the company's stock worth $407,000 after buying an additional 378 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Brunswick by 59.3% during the first quarter. GAMMA Investing LLC now owns 1,276 shares of the company's stock worth $69,000 after acquiring an additional 475 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

Insider Transactions at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of the company's 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 directly owned 44,466 shares of the company's stock, valued at approximately $2,599,927.02. This represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.85% of the company's stock.

Brunswick Trading Down 0.2%

Shares of Brunswick stock traded down $0.14 during midday trading on Monday, reaching $59.54. The company had a trading volume of 686,066 shares, compared to its average volume of 806,478. The stock has a fifty day moving average price of $55.46 and a 200 day moving average price of $56.63. Brunswick Corporation has a fifty-two week low of $41.00 and a fifty-two week high of $87.65. The firm has a market cap of $3.91 billion, a PE ratio of 49.20 and a beta of 1.27. 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 announced its quarterly earnings data on Thursday, April 24th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.25 by $0.31. Brunswick had a net margin of 1.62% and a return on equity of 12.88%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the firm posted $1.35 EPS. The company's quarterly revenue was down 10.5% on a year-over-year basis. On average, equities analysts anticipate that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Dividend Announcement

The business also recently announced 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 of this dividend is Wednesday, August 20th. This represents a $1.72 annualized dividend and a dividend yield of 2.89%. Brunswick's payout ratio is 142.15%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Benchmark began coverage on shares of Brunswick in a research note on Monday, April 28th. They issued a "buy" rating and a $70.00 target price for the company. Baird R W lowered Brunswick from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. BMO Capital Markets reduced their target price on Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Truist Financial dropped their price target on Brunswick from $85.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $43.00 price objective (down from $64.00) on shares of Brunswick in a research report on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.