Brunswick Corporation (NYSE:BC) Shares Bought by Van Berkom & Associates Inc.

Key Points

• Van Berkom & Associates Inc. increased its stake in Brunswick Corporation by 19.2% in Q1, holding 971,648 shares valued at approximately $52.3 million.
• Several large investors, including JPMorgan Chase & Co. and Norges Bank, have also made significant changes to their holdings in Brunswick during the fourth quarter.
• Brokerage analysts have lowered their price targets for Brunswick, with Jefferies Financial Group reducing it from $64.00 to $45.00 and maintaining a "hold" rating.

Van Berkom & Associates Inc. grew its stake in Brunswick Corporation (NYSE:BC - Free Report) by 19.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 971,648 shares of the company's stock after purchasing an additional 156,816 shares during the period. Van Berkom & Associates Inc. owned approximately 1.48% of Brunswick worth $52,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Allworth Financial LP lifted its stake in Brunswick by 4,972.7% during the first quarter. Allworth Financial LP now owns 558 shares of the company's stock worth $30,000 after purchasing an additional 547 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Brunswick by 695.7% in the first quarter. UMB Bank n.a. now owns 732 shares of the company's stock valued at $39,000 after acquiring an additional 640 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Brunswick by 171.6% in the first quarter. First Horizon Advisors Inc. now owns 755 shares of the company's stock valued at $41,000 after acquiring an additional 477 shares in the last quarter. Signaturefd LLC raised its stake in shares of Brunswick by 451.0% in the first quarter. Signaturefd LLC now owns 810 shares of the company's stock valued at $44,000 after acquiring an additional 663 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Brunswick in the fourth quarter valued at $45,000. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of Brunswick stock in a transaction that occurred on Wednesday, June 11th. The stock was 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 approximately $2,599,927.02. The trade was a 4.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.85% of the company's stock.

Brunswick Stock Performance

Shares of NYSE BC traded down $0.72 during midday trading on Wednesday, reaching $60.47. 540,365 shares of the company were exchanged, compared to its average volume of 967,640. The company has a current ratio of 1.68, a quick ratio of 0.70 and a debt-to-equity ratio of 1.10. Brunswick Corporation has a 1 year low of $41.00 and a 1 year high of $87.65. The stock has a fifty day simple moving average of $56.51 and a 200 day simple moving average of $56.48. The stock has a market cap of $3.97 billion, a P/E ratio of 97.46 and a beta of 1.27.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.27. Brunswick had a return on equity of 10.73% and a net margin of 0.82%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the company earned $1.80 EPS. The firm's revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts forecast that Brunswick Corporation will post 4.19 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 20th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, August 20th. Brunswick's dividend payout ratio is presently 277.42%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BC shares. Baird R W cut Brunswick from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Roth Capital raised their price target on Brunswick from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Jefferies Financial Group cut their price target on Brunswick from $64.00 to $45.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Robert W. Baird raised their price target on Brunswick from $56.00 to $60.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Truist Financial cut their price target on Brunswick from $85.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.25.

About Brunswick

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.