Morgan Stanley Lowers Brunswick (NYSE:BC) Price Target to $86.00

Brunswick (NYSE:BC - Free Report) had its target price lowered by Morgan Stanley from $91.00 to $86.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities analysts have also issued research reports about the company. B. Riley upgraded Brunswick from a neutral rating to a buy rating and raised their price target for the company from $100.00 to $108.00 in a research note on Tuesday, February 20th. DA Davidson restated a neutral rating and set a $77.00 price target on shares of Brunswick in a research note on Friday, March 15th. Raymond James lowered Brunswick from an outperform rating to a market perform rating in a research note on Thursday, January 4th. Truist Financial cut their target price on Brunswick from $115.00 to $105.00 and set a buy rating on the stock in a research note on Friday, February 2nd. Finally, BNP Paribas reiterated a neutral rating and issued a $82.00 target price (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Brunswick has a consensus rating of Moderate Buy and a consensus target price of $92.83.

Brunswick Trading Up 1.3 %

Shares of NYSE:BC traded up $1.05 on Friday, hitting $81.05. 682,385 shares of the company's stock were exchanged, compared to its average volume of 754,562. Brunswick has a 12 month low of $66.47 and a 12 month high of $99.68. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 13.63 and a beta of 1.56. The business's 50 day simple moving average is $89.13 and its two-hundred day simple moving average is $84.77. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 0.59.

Brunswick (NYSE:BC - Get Free Report) last released its earnings results on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business posted $2.57 earnings per share. The firm's revenue for the quarter was down 21.7% compared to the same quarter last year. Analysts anticipate that Brunswick will post 7.5 EPS for the current fiscal year.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were issued a $0.42 dividend. The ex-dividend date was Friday, February 23rd. This is an increase from Brunswick's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 2.07%. Brunswick's payout ratio is presently 28.24%.

Insider Buying and Selling at Brunswick

In other news, VP Christopher F. Dekker sold 6,234 shares of the company's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $84.53, for a total value of $526,960.02. Following the transaction, the vice president now owns 35,176 shares of the company's stock, valued at approximately $2,973,427.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP John G. Buelow sold 2,426 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $87.12, for a total value of $211,353.12. Following the transaction, the executive vice president now owns 14,199 shares in the company, valued at approximately $1,237,016.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher F. Dekker sold 6,234 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $84.53, for a total value of $526,960.02. Following the completion of the transaction, the vice president now owns 35,176 shares in the company, valued at approximately $2,973,427.28. The disclosure for this sale can be found here. Insiders sold a total of 52,696 shares of company stock worth $4,574,199 in the last three months. 0.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BC. Louisiana State Employees Retirement System lifted its holdings in shares of Brunswick by 2.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the company's stock valued at $1,911,000 after buying an additional 500 shares during the period. Valley National Advisers Inc. increased its stake in Brunswick by 47.0% during the first quarter. Valley National Advisers Inc. now owns 1,120 shares of the company's stock worth $108,000 after acquiring an additional 358 shares during the last quarter. State of Michigan Retirement System increased its stake in Brunswick by 2.4% during the first quarter. State of Michigan Retirement System now owns 16,870 shares of the company's stock worth $1,628,000 after acquiring an additional 400 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Brunswick by 43,700.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company's stock worth $42,000 after acquiring an additional 437 shares during the last quarter. Finally, Sendero Wealth Management LLC boosted its position in shares of Brunswick by 14.0% in the first quarter. Sendero Wealth Management LLC now owns 34,453 shares of the company's stock worth $3,325,000 after buying an additional 4,242 shares during the period. Hedge funds and other institutional investors own 99.34% of the company's stock.

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.