ExodusPoint Capital Management LP Makes New $1.56 Million Investment in Brunswick Co. (NYSE:BC)

ExodusPoint Capital Management LP acquired a new position in shares of Brunswick Co. (NYSE:BC) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 19,076 shares of the company’s stock, valued at approximately $1,564,000.

Several other large investors have also recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. acquired a new stake in shares of Brunswick during the 4th quarter worth $31,000. Rockefeller Capital Management L.P. grew its holdings in shares of Brunswick by 104.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 520 shares of the company’s stock worth $36,000 after purchasing an additional 266 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Brunswick during the 2nd quarter worth $46,000. First Horizon Advisors Inc. grew its holdings in shares of Brunswick by 24.5% during the 4th quarter. First Horizon Advisors Inc. now owns 843 shares of the company’s stock worth $61,000 after purchasing an additional 166 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Brunswick by 200.3% during the 1st quarter. Covestor Ltd now owns 961 shares of the company’s stock worth $78,000 after purchasing an additional 641 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.

Brunswick Stock Performance

Shares of BC stock opened at $81.24 on Friday. The business’s 50-day moving average price is $84.45 and its 200-day moving average price is $83.02. Brunswick Co. has a 12 month low of $64.55 and a 12 month high of $93.15. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 10.68 and a beta of 1.55. The company has a current ratio of 1.92, a quick ratio of 0.85 and a debt-to-equity ratio of 1.15.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, July 27th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.03. Brunswick had a return on equity of 33.86% and a net margin of 8.21%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the company earned $2.82 earnings per share. The firm’s revenue was down 7.3% compared to the same quarter last year. Equities research analysts forecast that Brunswick Co. will post 9.5 EPS for the current year.

Brunswick Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.97%. Brunswick’s dividend payout ratio (DPR) is 21.02%.

Analysts Set New Price Targets

Several analysts have recently issued reports on BC shares. StockNews.com initiated coverage on Brunswick in a report on Thursday, August 17th. They set a “buy” rating on the stock. Stifel Nicolaus reduced their price objective on Brunswick from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, July 20th. Citigroup reduced their price objective on Brunswick from $106.00 to $100.00 in a research note on Monday, June 26th. Truist Financial reduced their price objective on Brunswick from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 14th. Finally, BMO Capital Markets reduced their price objective on Brunswick from $122.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.92.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through three segments: Propulsion, Parts & Accessories, and Boat. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.