Castleark Management LLC Cuts Stock Holdings in Brunswick Co. (NYSE:BC)

Castleark Management LLC cut its stake in shares of Brunswick Co. (NYSE:BC - Free Report) by 49.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,790 shares of the company's stock after selling 21,870 shares during the quarter. Castleark Management LLC's holdings in Brunswick were worth $1,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the company. Financial Perspectives Inc purchased a new position in Brunswick during the 4th quarter valued at about $42,000. Quarry LP bought a new position in Brunswick during the 4th quarter valued at approximately $45,000. KBC Group NV raised its position in Brunswick by 42.8% during the 4th quarter. KBC Group NV now owns 2,892 shares of the company's stock valued at $187,000 after purchasing an additional 867 shares during the last quarter. Stevens Capital Management LP bought a new position in Brunswick during the 4th quarter valued at approximately $203,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Brunswick by 121.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,295 shares of the company's stock valued at $213,000 after buying an additional 1,809 shares during the period. Hedge funds and other institutional investors own 99.34% of the company's stock.

Insider Buying and Selling

In other Brunswick news, SVP Randall S. Altman sold 3,417 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total transaction of $215,988.57. Following the completion of the sale, the senior vice president now directly owns 26,683 shares of the company's stock, valued at approximately $1,686,632.43. This represents a 11.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Brunswick Stock Down 3.0%

NYSE:BC traded down $1.54 during mid-day trading on Friday, hitting $49.72. 672,040 shares of the company's stock were exchanged, compared to its average volume of 793,719. Brunswick Co. has a one year low of $41.00 and a one year high of $87.65. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63. The business has a fifty day moving average price of $49.09 and a 200 day moving average price of $62.02. The company has a market cap of $3.27 billion, a PE ratio of 26.17 and a beta of 1.28.

Brunswick (NYSE:BC - Get Free Report) last posted 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 2.48% and a return on equity of 15.41%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm posted $1.35 earnings per share. Brunswick's quarterly revenue was down 10.5% on a year-over-year basis. Equities analysts predict that Brunswick Co. will post 4.19 EPS for the current year.

Brunswick Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, May 19th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Monday, May 19th. Brunswick's dividend payout ratio is currently 142.15%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Roth Mkm dropped their price target on Brunswick from $91.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, January 24th. Jefferies Financial Group dropped their price target on 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 cut their target price 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. 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. Finally, Benchmark initiated coverage on shares of Brunswick in a research note on Monday, April 28th. They set a "buy" rating and a $70.00 target price on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Brunswick currently has a consensus rating of "Moderate Buy" and an average target price of $71.31.

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.