Allworth Financial LP Increases Stock Position in Brunswick Corporation (NYSE:BC)

Allworth Financial LP raised its stake in shares of Brunswick Corporation (NYSE:BC) by 4,972.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 558 shares of the company’s stock after purchasing an additional 547 shares during the quarter. Allworth Financial LP’s holdings in Brunswick were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of BC. PNC Financial Services Group Inc. lifted its holdings in shares of Brunswick by 56.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,537 shares of the company’s stock worth $358,000 after acquiring an additional 1,992 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Brunswick by 11.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,431 shares of the company’s stock valued at $351,000 after acquiring an additional 572 shares during the last quarter. Xponance Inc. raised its position in Brunswick by 4.9% during the fourth quarter. Xponance Inc. now owns 7,617 shares of the company’s stock valued at $493,000 after purchasing an additional 359 shares in the last quarter. Magnetar Financial LLC bought a new stake in Brunswick during the fourth quarter worth about $3,903,000. Finally, American Century Companies Inc. lifted its stake in Brunswick by 2.9% during the fourth quarter. American Century Companies Inc. now owns 1,462,558 shares of the company’s stock worth $94,599,000 after purchasing an additional 41,583 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Insider Buying and Selling

In other news, VP Christopher F. Dekker sold 2,092 shares of Brunswick stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $58.47, for a total transaction of $122,319.24. Following the sale, the vice president owned 44,466 shares of the company’s stock, valued at approximately $2,599,927.02. The trade was a 4.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.81% of the company’s stock.

Brunswick Stock Performance

Brunswick stock opened at $59.67 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.65 and a debt-to-equity ratio of 1.12. The firm has a market cap of $3.92 billion, a P/E ratio of 49.31 and a beta of 1.27. Brunswick Corporation has a 1-year low of $41.00 and a 1-year high of $87.65. The firm has a 50-day moving average of $55.46 and a 200-day moving average of $56.74.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.31. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Brunswick had a return on equity of 12.88% and a net margin of 1.62%. The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS. Sell-side analysts expect that Brunswick Corporation will post 4.19 EPS for the current year.

Brunswick Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Wednesday, August 20th. Brunswick’s payout ratio is currently 142.15%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Truist Financial reduced their price objective on Brunswick from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Benchmark assumed coverage on shares of Brunswick in a research report on Monday, April 28th. They set a “buy” rating and a $70.00 price target on the stock. DA Davidson reissued a “neutral” rating and set a $43.00 price target (down from $64.00) on shares of Brunswick in a research note on Monday, April 28th. Baird R W cut shares of Brunswick from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Citigroup reaffirmed a “buy” rating and set a $68.00 target price (up previously from $61.00) on shares of Brunswick in a report on Monday, June 16th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Brunswick has an average rating of “Moderate Buy” and a consensus target price of $70.00.

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.