Brunswick Corporation (NYSE:BC) Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its stake in shares of Brunswick Corporation (NYSE:BC) by 32.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,111 shares of the company’s stock after purchasing an additional 1,986 shares during the period. Avantax Advisory Services Inc.’s holdings in Brunswick were worth $437,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. FIL Ltd increased its holdings in Brunswick by 323.9% in the 4th 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. Massachusetts Financial Services Co. MA boosted its holdings in shares of Brunswick by 17.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,439,526 shares of the company’s stock valued at $185,218,000 after acquiring an additional 516,970 shares during the last quarter. Turtle Creek Asset Management Inc. increased its stake in shares of 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 acquiring an additional 488,412 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Brunswick during the fourth quarter worth $29,646,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Brunswick by 49.5% during the fourth quarter. Janus Henderson Group PLC now owns 530,251 shares of the company’s stock worth $34,296,000 after purchasing an additional 175,620 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Brunswick Trading Down 1.5%

Shares of BC stock opened at $58.44 on Thursday. Brunswick Corporation has a 1-year low of $41.00 and a 1-year high of $87.65. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 94.26 and a beta of 1.28. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.68 and a quick ratio of 0.70. The stock has a 50 day simple moving average of $57.64 and a 200-day simple moving average of $56.25.

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

Brunswick Dividend Announcement

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

Insider Transactions at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $2,599,927.02. The trade was a 4.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BC shares. Benchmark started coverage on Brunswick in a research report on Monday, April 28th. They set a “buy” rating and a $70.00 price target on the stock. Robert W. Baird raised 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 reduced their price target on Brunswick from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Citigroup restated a “buy” rating and issued a $68.00 price objective (up previously from $61.00) on shares of Brunswick in a research report on Monday, June 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. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.25.

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.