New York State Common Retirement Fund Sells 7,100 Shares of Brunswick Co. (NYSE:BC)

New York State Common Retirement Fund lowered its stake in Brunswick Co. (NYSE:BC) by 13.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 45,411 shares of the company’s stock after selling 7,100 shares during the quarter. New York State Common Retirement Fund’s holdings in Brunswick were worth $4,394,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Alps Advisors Inc. increased its position in shares of Brunswick by 224.7% during the third quarter. Alps Advisors Inc. now owns 49,446 shares of the company’s stock valued at $3,906,000 after buying an additional 34,220 shares during the period. Victory Capital Management Inc. raised its position in shares of Brunswick by 127.6% in the 3rd quarter. Victory Capital Management Inc. now owns 866,226 shares of the company’s stock worth $68,432,000 after acquiring an additional 485,588 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Brunswick in the 4th quarter valued at approximately $20,460,000. Envestnet Asset Management Inc. lifted its stake in shares of Brunswick by 29.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 144,584 shares of the company’s stock valued at $11,422,000 after purchasing an additional 32,901 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Brunswick by 10.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 156,596 shares of the company’s stock valued at $12,371,000 after purchasing an additional 15,042 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Brunswick

In other news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Christopher F. Dekker sold 6,234 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were 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 $2,973,427.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the sale, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at $23,748,450.86. The disclosure for this sale can be found here. Insiders have sold a total of 53,053 shares of company stock worth $4,602,880 over the last quarter. Company insiders own 0.81% of the company’s stock.

Brunswick Stock Performance

Shares of BC opened at $81.33 on Monday. Brunswick Co. has a 12 month low of $66.47 and a 12 month high of $99.68. The business’s fifty day simple moving average is $88.38 and its two-hundred day simple moving average is $85.17. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 1.16. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 15.12 and a beta of 1.60.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business earned $2.57 earnings per share. The company’s quarterly revenue was down 21.7% on a year-over-year basis. Research analysts anticipate that Brunswick Co. will post 7.39 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, May 10th. This represents a $1.68 annualized dividend and a dividend yield of 2.07%. Brunswick’s payout ratio is 31.23%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Stifel Nicolaus raised their price objective on Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Roth Mkm reissued a “buy” rating and set a $94.00 price objective on shares of Brunswick in a research note on Thursday, April 25th. Morgan Stanley decreased their target price on shares of Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. DA Davidson reissued a “neutral” rating and issued a $77.00 price target on shares of Brunswick in a research report on Friday, March 15th. Finally, B. Riley upgraded Brunswick from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $108.00 in a research note on Tuesday, February 20th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.83.

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.