XTX Topco Ltd Invests $308,000 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 bought a new stake in Brunswick Corporation (NYSE:BC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,722 shares of the company's stock, valued at approximately $308,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BC. Allworth Financial LP grew its position in shares of 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 purchasing an additional 547 shares during the last quarter. UMB Bank n.a. grew its position 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 purchasing an additional 640 shares during the last quarter. First Horizon Advisors Inc. boosted 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 buying an additional 477 shares during the period. Signaturefd LLC boosted 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 buying an additional 663 shares during the period. Finally, Quarry LP bought a new stake in shares of Brunswick in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 99.34% of the company's stock.

Analysts Set New Price Targets

BC has been the subject of several recent research reports. Benchmark initiated coverage on Brunswick in a research note on Monday, April 28th. They issued a "buy" rating and a $70.00 price target for the company. Jefferies Financial Group cut their price target on Brunswick from $64.00 to $45.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. BMO Capital Markets cut their price target on Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Citigroup reiterated a "buy" rating and issued a $68.00 price target (up from $61.00) on shares of Brunswick in a research note on Monday, June 16th. Finally, Robert W. Baird boosted 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. 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $68.25.

Brunswick Price Performance

NYSE BC traded down $0.65 on Friday, hitting $63.67. 52,816 shares of the company's stock were exchanged, compared to its average volume of 964,358. The stock has a 50-day moving average of $58.55 and a 200-day moving average of $55.89. 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 52 week low of $41.00 and a 52 week high of $87.65. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 102.67 and a beta of 1.28.

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

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.43 per share. The ex-dividend date is Wednesday, August 20th. This represents a $1.72 annualized dividend and a dividend yield of 2.7%. Brunswick's dividend payout ratio is 277.42%.

Insider Activity

In other news, VP Christopher F. Dekker sold 2,092 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $58.47, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.81% of the company's stock.

Brunswick Company 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.