Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Holdings in Brunswick Corporation (NYSE:BC)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Brunswick Corporation (NYSE:BC) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,530 shares of the company’s stock after selling 1,057 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brunswick were worth $890,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP increased its stake in Brunswick by 4,972.7% during the first quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $30,000 after purchasing an additional 547 shares during the period. UMB Bank n.a. lifted its holdings in Brunswick by 695.7% during the 1st quarter. UMB Bank n.a. now owns 732 shares of the company’s stock worth $39,000 after buying an additional 640 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Brunswick by 171.6% in the first quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock worth $41,000 after acquiring an additional 477 shares in the last quarter. Signaturefd LLC grew its stake in shares of Brunswick by 451.0% in the first quarter. Signaturefd LLC now owns 810 shares of the company’s stock worth $44,000 after acquiring an additional 663 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Brunswick during the fourth quarter worth $45,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Brunswick Trading Up 0.8%

BC opened at $59.24 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 1.68 and a debt-to-equity ratio of 1.10. Brunswick Corporation has a 52 week low of $41.00 and a 52 week high of $87.65. The business’s 50 day moving average is $57.48 and its two-hundred day moving average is $56.23. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 95.55 and a beta of 1.28.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.27. Brunswick had a net margin of 0.82% and a return on equity of 10.73%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm posted $1.80 EPS. Brunswick’s revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts predict that Brunswick Corporation will post 4.19 EPS for the current year.

Brunswick Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 20th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.9%. Brunswick’s payout ratio is presently 277.42%.

Insider Activity

In related news, VP Christopher F. Dekker sold 2,092 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $58.47, for a total transaction of $122,319.24. Following the completion of the sale, the vice president directly owned 44,466 shares of the company’s stock, valued at $2,599,927.02. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Benchmark started coverage on Brunswick in a report on Monday, April 28th. They issued a “buy” rating and a $70.00 target price for the company. Robert W. Baird boosted their price objective on Brunswick from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Roth Capital upped their target price on shares of Brunswick from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Truist Financial decreased their price target on shares of Brunswick from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Citigroup reissued a “buy” rating and issued a $68.00 price objective (up from $61.00) on shares of Brunswick in a research report on Monday, June 16th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.25.

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.