Cetera Investment Advisers Lowers Stake in Brunswick Co. (NYSE:BC)

Cetera Investment Advisers lowered its holdings in Brunswick Co. (NYSE:BC) by 16.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,392 shares of the company’s stock after selling 1,994 shares during the period. Cetera Investment Advisers’ holdings in Brunswick were worth $672,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Barclays PLC increased its holdings in shares of Brunswick by 78.6% in the 3rd quarter. Barclays PLC now owns 118,189 shares of the company’s stock valued at $9,907,000 after acquiring an additional 52,024 shares during the last quarter. KBC Group NV raised its holdings in Brunswick by 42.8% during the fourth quarter. KBC Group NV now owns 2,892 shares of the company’s stock worth $187,000 after purchasing an additional 867 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Brunswick by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 9,861 shares of the company’s stock worth $638,000 after acquiring an additional 190 shares during the period. Hunter Associates Investment Management LLC boosted its holdings in Brunswick by 2.5% during the fourth quarter. Hunter Associates Investment Management LLC now owns 18,127 shares of the company’s stock worth $1,170,000 after buying an additional 447 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in Brunswick by 8.0% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 204,897 shares of the company’s stock worth $13,253,000 after purchasing an additional 15,122 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BC shares. Citigroup lowered their target price on Brunswick from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. B. Riley upgraded shares of Brunswick to a “hold” rating in a report on Wednesday, February 12th. BMO Capital Markets reduced their target price on shares of Brunswick from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Robert W. Baird upped their price target on shares of Brunswick from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Finally, Truist Financial dropped their price objective on shares of Brunswick from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $71.31.

Brunswick Price Performance

NYSE BC opened at $49.72 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65. Brunswick Co. has a 1 year low of $41.00 and a 1 year high of $87.65. The stock has a market capitalization of $3.27 billion, a P/E ratio of 26.17 and a beta of 1.28. The business’s fifty day moving average is $49.09 and its two-hundred day moving average is $61.87.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.31. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm posted $1.35 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, research analysts forecast that Brunswick Co. will post 4.19 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 13th. Stockholders of record on Monday, May 19th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Monday, May 19th. Brunswick’s dividend payout ratio is currently 142.15%.

Insider Activity

In other news, SVP Randall S. Altman sold 3,417 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total value of $215,988.57. Following the sale, the senior vice president now owns 26,683 shares of the company’s stock, valued at approximately $1,686,632.43. This represents a 11.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is currently owned by company insiders.

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.