Brunswick Corporation (NYSE:BC) Shares Sold by Garner Asset Management Corp

Garner Asset Management Corp lowered its stake in Brunswick Corporation (NYSE:BC - Free Report) by 65.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 22,288 shares of the company's stock after selling 42,851 shares during the quarter. Garner Asset Management Corp's holdings in Brunswick were worth $1,200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BC. Deutsche Bank AG increased its stake in shares of Brunswick by 0.6% during the fourth quarter. Deutsche Bank AG now owns 28,031 shares of the company's stock valued at $1,813,000 after buying an additional 160 shares during the period. Fifth Third Bancorp raised its holdings in Brunswick by 33.3% in 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. Peterson Wealth Services raised its holdings in Brunswick by 2.5% in the first quarter. Peterson Wealth Services now owns 13,599 shares of the company's stock worth $732,000 after purchasing an additional 331 shares in the last quarter. Xponance Inc. raised its holdings in Brunswick by 4.9% in the fourth quarter. Xponance Inc. now owns 7,617 shares of the company's stock worth $493,000 after purchasing an additional 359 shares in the last quarter. Finally, Snowden Capital Advisors LLC raised its holdings in Brunswick by 6.4% in the fourth quarter. Snowden Capital Advisors LLC now owns 6,297 shares of the company's stock worth $407,000 after purchasing an additional 378 shares in the last quarter. Institutional investors own 99.34% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Benchmark assumed coverage on Brunswick in a research note on Monday, April 28th. They issued a "buy" rating and a $70.00 target price on the stock. Citigroup reissued a "buy" rating and issued a $68.00 target price (up from $61.00) on shares of Brunswick in a research note on Monday, June 16th. Baird R W cut Brunswick from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. DA Davidson reissued a "neutral" rating and issued a $43.00 target price (down from $64.00) on shares of Brunswick in a research note on Monday, April 28th. Finally, Jefferies Financial Group dropped their price objective on Brunswick from $64.00 to $45.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $70.00.

Brunswick Price Performance

Shares of NYSE:BC traded up $4.10 during midday trading on Tuesday, hitting $63.67. The company had a trading volume of 1,561,042 shares, compared to its average volume of 809,945. Brunswick Corporation has a twelve month low of $41.00 and a twelve month high of $87.65. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.57 and a quick ratio of 0.65. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 52.62 and a beta of 1.27. The business's 50-day simple moving average is $55.46 and its 200-day simple moving average is $56.63.

Brunswick (NYSE:BC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.31. Brunswick had a return on equity of 12.88% and a net margin of 1.62%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business posted $1.35 earnings per share. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. On average, research analysts predict that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Announces Dividend

The company 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 $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 dividend yield of 2.70%. Brunswick's dividend payout ratio (DPR) is presently 142.15%.

Insider Activity

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of the company'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 completion of the sale, the vice president directly owned 44,466 shares of the company's stock, valued at $2,599,927.02. This represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is currently owned by company insiders.

Brunswick 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.