Envestnet Asset Management Inc. Grows Holdings in Brunswick Corporation (NYSE:BC)

Envestnet Asset Management Inc. lifted its stake in shares of Brunswick Corporation (NYSE:BC - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 207,988 shares of the company's stock after buying an additional 10,173 shares during the period. Envestnet Asset Management Inc. owned about 0.32% of Brunswick worth $11,200,000 at the end of the most recent quarter.

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

Brunswick Stock Up 5.4%

Shares of Brunswick stock traded up $3.21 during trading hours on Tuesday, reaching $62.78. 492,271 shares of the company's stock were exchanged, compared to its average volume of 805,405. The company has a 50 day moving average of $55.46 and a two-hundred day moving average of $56.63. Brunswick Corporation has a fifty-two week low of $41.00 and a fifty-two 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 stock has a market cap of $4.12 billion, a P/E ratio of 51.85 and a beta of 1.27.

Brunswick (NYSE:BC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.56 earnings per share for the quarter, beating 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 firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the firm earned $1.35 EPS. The business's revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts forecast that Brunswick Corporation will post 4.19 EPS for the current fiscal year.

Brunswick Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 20th will be given a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.72 dividend on an annualized basis and a yield of 2.74%. Brunswick's dividend payout ratio is currently 142.15%.

Wall Street Analysts Forecast Growth

BC has been the subject of a number of analyst reports. Truist Financial reduced their price target on 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 decreased their price objective on Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, April 25th. DA Davidson reaffirmed a "neutral" rating and set a $43.00 target price (down from $64.00) on shares of Brunswick in a research report on Monday, April 28th. Citigroup reissued a "buy" rating and issued a $68.00 price target (up from $61.00) on shares of Brunswick in a report on Monday, June 16th. Finally, Baird R W lowered shares of Brunswick from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.00.

Insider Buying and Selling at Brunswick

In related news, VP Christopher F. Dekker sold 2,092 shares of the business's stock in a transaction 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 transaction, the vice president 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is currently owned by corporate 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.