Brunswick Corporation (NYSE:BC) Stake Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its position in shares of Brunswick Corporation (NYSE:BC) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,959 shares of the company’s stock after selling 896 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of Brunswick worth $1,829,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FIL Ltd increased its position in Brunswick by 323.9% in the fourth quarter. FIL Ltd now owns 1,114,324 shares of the company’s stock worth $72,074,000 after buying an additional 851,449 shares during the period. Turtle Creek Asset Management Inc. increased its position in Brunswick by 19.7% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,965,460 shares of the company’s stock worth $191,806,000 after buying an additional 488,412 shares during the period. Norges Bank acquired a new stake in Brunswick in the fourth quarter worth $30,097,000. Raymond James Financial Inc. acquired a new stake in Brunswick in the fourth quarter worth $29,646,000. Finally, JPMorgan Chase & Co. increased its position in Brunswick by 18.1% in the fourth quarter. JPMorgan Chase & Co. now owns 1,757,186 shares of the company’s stock worth $113,655,000 after buying an additional 269,413 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BC shares. DA Davidson reaffirmed a “neutral” rating and set a $43.00 target price (down from $64.00) on shares of Brunswick in a report on Monday, April 28th. Robert W. Baird lifted their target price on Brunswick from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. BMO Capital Markets lowered their target price on Brunswick from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Truist Financial decreased their price target on Brunswick from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Jefferies Financial Group decreased their price target on Brunswick from $64.00 to $45.00 and set a “hold” rating for the company in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Brunswick presently has an average rating of “Moderate Buy” and an average price target of $70.00.

Brunswick Stock Up 0.1%

BC opened at $59.67 on Friday. The business has a 50 day moving average price of $55.46 and a 200 day moving average price of $56.68. Brunswick Corporation has a twelve month low of $41.00 and a twelve month high of $87.65. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 1.57. The firm has a market cap of $3.92 billion, a P/E ratio of 49.31 and a beta of 1.27.

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

Brunswick Dividend Announcement

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

Insider Buying and Selling

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of the business’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $58.47, for a total value of $122,319.24. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Brunswick Company 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.