New York State Teachers Retirement System Reduces Stock Holdings in Brunswick Corporation (NYSE:BC)

New York State Teachers Retirement System cut its stake in shares of Brunswick Corporation (NYSE:BC - Free Report) by 26.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 61,491 shares of the company's stock after selling 21,665 shares during the period. New York State Teachers Retirement System owned about 0.09% of Brunswick worth $3,311,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in shares of Brunswick by 695.7% during the first quarter. UMB Bank n.a. now owns 732 shares of the company's stock worth $39,000 after buying an additional 640 shares in the last quarter. Quarry LP purchased a new stake in shares of Brunswick during the fourth quarter worth $45,000. Fifth Third Bancorp grew its holdings 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 buying an additional 269 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 475 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new stake in shares of Brunswick during the fourth quarter worth $203,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on BC. Truist Financial dropped their target price on shares of Brunswick from $85.00 to $60.00 and set a "buy" rating for the company in a report on Monday, April 14th. Baird R W lowered shares of Brunswick from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. BMO Capital Markets dropped their price objective on shares of Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Robert W. Baird upped their price objective on shares of Brunswick from $56.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, DA Davidson reissued a "neutral" rating and issued a $43.00 price objective (down previously from $64.00) on shares of Brunswick in a report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $70.00.

Insiders Place Their Bets

In related news, VP Christopher F. Dekker sold 2,092 shares of the firm's stock in a transaction that occurred 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 sale, the vice president owned 44,466 shares of the company's stock, valued at $2,599,927.02. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is currently owned by company insiders.

Brunswick Stock Up 0.5%

Shares of BC traded up $0.31 during mid-day trading on Wednesday, hitting $59.60. 6,189 shares of the company's stock were exchanged, compared to its average volume of 957,583. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 49.28 and a beta of 1.27. Brunswick Corporation has a fifty-two week low of $41.00 and a fifty-two week high of $87.65. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 1.57. The stock's 50-day moving average is $53.39 and its 200-day moving average is $56.99.

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

Brunswick Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Monday, May 19th were issued a $0.43 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.72 annualized dividend and a yield of 2.89%. Brunswick's dividend payout ratio (DPR) is 142.15%.

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.