Brunswick Corporation (NYSE:BC) Stake Trimmed by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its holdings in Brunswick Corporation (NYSE:BC - Free Report) by 71.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 22,096 shares of the company's stock after selling 55,814 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Brunswick were worth $1,190,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP grew its position in Brunswick by 4,972.7% in the first quarter. Allworth Financial LP now owns 558 shares of the company's stock valued at $30,000 after acquiring an additional 547 shares in the last quarter. Quarry LP acquired a new stake in shares of Brunswick during the fourth quarter worth approximately $45,000. UMB Bank n.a. grew its position 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. First Horizon Advisors Inc. grew its position in shares of Brunswick by 171.6% during the first quarter. First Horizon Advisors Inc. now owns 755 shares of the company's stock worth $41,000 after buying an additional 477 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Brunswick by 451.0% during the first quarter. Signaturefd LLC now owns 810 shares of the company's stock worth $44,000 after buying an additional 663 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BC shares. BMO Capital Markets decreased 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. Truist Financial decreased their price objective 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. Robert W. Baird lifted their price objective on shares of Brunswick from $56.00 to $60.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. DA Davidson reaffirmed 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. Finally, Citigroup reaffirmed a "buy" rating and issued a $68.00 price objective (up previously from $61.00) on shares of Brunswick in a report on Monday, June 16th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Brunswick has an average rating of "Moderate Buy" and a consensus target price of $69.46.

Insider Buying and Selling

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of the business'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 sale, the vice president directly owned 44,466 shares in the company, valued at approximately $2,599,927.02. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.81% of the company's stock.

Brunswick Stock Performance

Shares of NYSE BC traded up $1.16 during midday trading on Friday, reaching $60.55. 1,131,486 shares of the company traded hands, compared to its average volume of 904,333. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.68 and a quick ratio of 0.65. The stock has a 50-day moving average price of $56.37 and a 200 day moving average price of $56.62. Brunswick Corporation has a 52 week low of $41.00 and a 52 week high of $87.65. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 97.65 and a beta of 1.27.

Brunswick (NYSE:BC - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.89 by $0.27. Brunswick had a net margin of 0.82% and a return on equity of 10.73%. The firm had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same period in the previous year, the business earned $1.80 earnings per share. Brunswick's revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Brunswick Corporation will post 4.19 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The firm also recently declared 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. This represents a $1.72 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, August 20th. Brunswick's dividend payout ratio (DPR) is presently 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.