XTX Topco Ltd Acquires New Shares in Brunswick Corporation (NYSE:BC)

Key Points

• XTX Topco Ltd has acquired a new stake in Brunswick Corporation, purchasing 5,722 shares valued at approximately $308,000 in Q1 2023.
• Research analysts are optimistic about Brunswick's performance, with a consensus target price of $68.25 and multiple buy ratings issued, suggesting potential stock appreciation.
• Brunswick Corporation announced a quarterly dividend of $0.43 per share, representing an annualized yield of 3.0%, with an ex-dividend date set for August 20th.

XTX Topco Ltd acquired a new stake in Brunswick Corporation (NYSE:BC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,722 shares of the company's stock, valued at approximately $308,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Allworth Financial LP boosted its position in shares of 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 buying an additional 547 shares during the period. UMB Bank n.a. boosted 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 during the period. First Horizon Advisors Inc. boosted 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 during the period. Signaturefd LLC boosted 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 during the period. Finally, Quarry LP acquired a new position in shares of Brunswick during the fourth quarter worth about $45,000. Institutional investors own 99.34% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. DA Davidson upped their price objective on Brunswick from $43.00 to $59.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Roth Capital upped their target price on Brunswick from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. BMO Capital Markets dropped their target price on Brunswick from $75.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Jefferies Financial Group dropped their target price on Brunswick from $64.00 to $45.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Finally, Benchmark started coverage on Brunswick in a report on Monday, April 28th. They set a "buy" rating and a $70.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Brunswick currently has an average rating of "Moderate Buy" and a consensus target price of $68.25.

Brunswick Price Performance

NYSE:BC opened at $56.87 on Monday. The company has a quick ratio of 0.70, a current ratio of 1.68 and a debt-to-equity ratio of 1.10. The stock's 50 day moving average price is $57.88 and its two-hundred day moving average price is $55.92. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 91.73 and a beta of 1.28. Brunswick Corporation has a 12-month low of $41.00 and a 12-month high of $87.65.

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

Brunswick Dividend Announcement

The firm also recently announced 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 dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 20th. Brunswick's dividend payout ratio (DPR) is currently 277.42%.

Insider Buying and Selling at Brunswick

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

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.

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