Short Interest in Brunswick Co. (NYSE:BC) Increases By 6.8%

Brunswick Co. (NYSE:BCGet Free Report) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 3,950,000 shares, an increase of 6.8% from the February 29th total of 3,700,000 shares. Approximately 5.9% of the shares of the stock are short sold. Based on an average trading volume of 727,300 shares, the days-to-cover ratio is currently 5.4 days.

Insider Transactions at Brunswick

In related news, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the transaction, the vice president now directly owns 35,176 shares in the company, valued at $2,973,427.28. The disclosure for this sale can be found here. Insiders have sold a total of 52,696 shares of company stock valued at $4,574,199 in the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Brunswick

Several institutional investors have recently added to or reduced their stakes in the stock. Valley National Advisers Inc. purchased a new position in Brunswick in the 3rd quarter valued at approximately $25,000. Principal Securities Inc. purchased a new position in Brunswick in the 4th quarter valued at approximately $28,000. Johnson Financial Group Inc. purchased a new position in Brunswick in the 4th quarter valued at approximately $30,000. Rockefeller Capital Management L.P. boosted its position in Brunswick by 104.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 520 shares of the company’s stock valued at $36,000 after buying an additional 266 shares during the period. Finally, Fred Alger Management LLC purchased a new position in Brunswick in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Wall Street Analyst Weigh In

BC has been the subject of a number of recent research reports. Roth Mkm increased their price objective on shares of Brunswick from $85.00 to $94.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Truist Financial cut their price objective on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, February 2nd. B. Riley upgraded shares of Brunswick from a “neutral” rating to a “buy” rating and increased their price objective for the company from $100.00 to $108.00 in a report on Tuesday, February 20th. Raymond James downgraded shares of Brunswick from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. Finally, Stifel Nicolaus raised their price target on shares of Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.58.

Read Our Latest Stock Report on Brunswick

Brunswick Stock Up 0.3 %

Brunswick stock opened at $94.18 on Thursday. Brunswick has a fifty-two week low of $66.47 and a fifty-two week high of $99.68. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.59 and a current ratio of 1.43. The firm has a 50 day moving average price of $88.28 and a 200 day moving average price of $83.72. The company has a market capitalization of $6.48 billion, a PE ratio of 15.83 and a beta of 1.56.

Brunswick (NYSE:BCGet Free Report) last posted its earnings results on Thursday, February 1st. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.21). Brunswick had a net margin of 6.57% and a return on equity of 29.78%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the business posted $1.99 EPS. The firm’s revenue for the quarter was down 14.0% on a year-over-year basis. Research analysts expect that Brunswick will post 7.49 earnings per share for the current year.

Brunswick Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Friday, February 23rd. This is an increase from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio (DPR) is 28.24%.

About Brunswick

(Get Free Report)

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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