Victory Capital Management Inc. Has $41.17 Million Position in Brunswick Corporation $BC

Key Points

• Victory Capital trimmed its stake in Brunswick by 3.2%, selling 21,858 shares and ending the quarter with 650,949 shares worth $41.17 million (about 1.00% ownership).
• Company insiders have been selling: CEO David M. Foulkes sold 38,266 shares for roughly $3.31 million (a 12.37% reduction) and VP Christopher Dekker sold 4,981 shares, leaving insiders with about 0.81% ownership.
• Brunswick raised its quarterly dividend to $0.44 (annualized $1.76, ~2.5% yield) and reported quarterly revenue of $1.33 billion (above estimates), while analysts maintain a consensus "Hold" rating with an average target of $84.

Victory Capital Management Inc. cut its position in shares of Brunswick Corporation (NYSE:BC - Free Report) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 650,949 shares of the company's stock after selling 21,858 shares during the quarter. Victory Capital Management Inc. owned 1.00% of Brunswick worth $41,166,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BC. First Horizon Corp acquired a new stake in Brunswick during the third quarter worth $26,000. Jones Financial Companies Lllp raised its stake in shares of Brunswick by 50.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 494 shares of the company's stock valued at $31,000 after buying an additional 166 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Brunswick during the 3rd quarter worth about $37,000. Quent Capital LLC bought a new position in shares of Brunswick during the 3rd quarter worth about $38,000. Finally, Parkside Financial Bank & Trust boosted its position in shares of Brunswick by 103.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 702 shares of the company's stock valued at $39,000 after acquiring an additional 357 shares in the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

Insider Activity at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 38,266 shares of Brunswick stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the completion of the sale, the chief executive officer owned 271,169 shares of the company's stock, valued at approximately $23,472,388.64. The trade was a 12.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher F. Dekker sold 4,981 shares of the company's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $87.38, for a total transaction of $435,239.78. Following the sale, the vice president owned 39,740 shares of the company's stock, valued at $3,472,481.20. The trade was a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is owned by insiders.

Brunswick Price Performance

Brunswick stock opened at $70.54 on Friday. The business's fifty day moving average is $83.58 and its two-hundred day moving average is $72.48. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 1.44. The firm has a market cap of $4.57 billion, a P/E ratio of -33.27 and a beta of 1.39. Brunswick Corporation has a 52 week low of $41.00 and a 52 week high of $90.25.

Brunswick (NYSE:BC - Get Free Report) last announced its earnings results on Thursday, January 29th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.58. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.21 billion. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. Brunswick's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 earnings per share. Equities research analysts forecast that Brunswick Corporation will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be given a dividend of $0.44 per share. The ex-dividend date is Monday, February 23rd. This represents a $1.76 annualized dividend and a dividend yield of 2.5%. This is a positive change from Brunswick's previous quarterly dividend of $0.43. Brunswick's dividend payout ratio is presently -83.02%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BC shares. Loop Capital began coverage on shares of Brunswick in a research report on Monday, December 22nd. They issued a "hold" rating and a $74.00 price target for the company. B. Riley Financial reiterated a "neutral" rating and issued a $80.00 price objective (up from $70.00) on shares of Brunswick in a research note on Friday, January 30th. Benchmark increased their target price on Brunswick from $75.00 to $90.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Robert W. Baird set a $85.00 target price on Brunswick in a research report on Friday, January 30th. Finally, Wall Street Zen lowered Brunswick from a "buy" rating to a "hold" rating in a research note on Sunday, December 7th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $84.00.

Brunswick Profile

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.

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