Brunswick (NYSE:BC) Price Target Raised to $93.00 at Truist Financial

Brunswick (NYSE:BC) had its target price raised by Truist Financial from $92.00 to $93.00 in a report issued on Monday morning, MarketBeat reports. Truist Financial currently has a buy rating on the stock.

A number of other analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brunswick in a report on Friday, March 27th. Citigroup raised their price target on shares of Brunswick from $100.00 to $101.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Wolfe Research set a $90.00 price target on shares of Brunswick in a report on Monday, January 12th. Texas Capital raised shares of Brunswick from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $94.00 price target (up from $79.00) on shares of Brunswick in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $86.36.

Brunswick Stock Performance

Shares of NYSE BC opened at $80.21 on Monday. The firm’s 50-day moving average price is $76.73 and its 200-day moving average price is $75.20. The company has a quick ratio of 0.61, a current ratio of 1.44 and a debt-to-equity ratio of 1.11. The company has a market cap of $5.22 billion, a PE ratio of -37.84 and a beta of 1.38. Brunswick has a 52-week low of $44.40 and a 52-week high of $90.25.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.21 billion. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 EPS. As a group, analysts anticipate that Brunswick will post 4.26 EPS for the current year.

Brunswick Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were paid a $0.44 dividend. This is a boost from Brunswick’s previous quarterly dividend of $0.43. The ex-dividend date was Monday, February 23rd. This represents a $1.76 annualized dividend and a dividend yield of 2.2%. Brunswick’s dividend payout ratio (DPR) is currently -83.02%.

Insider Activity at Brunswick

In other news, CEO David M. Foulkes sold 38,266 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $86.56, for a total value of $3,312,304.96. Following the transaction, the chief executive officer owned 271,169 shares in the company, valued at $23,472,388.64. This represents a 12.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher F. Dekker sold 4,981 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $87.38, for a total transaction of $435,239.78. Following the completion of the transaction, the vice president owned 39,740 shares in the company, valued at $3,472,481.20. This trade represents a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Brunswick

Institutional investors have recently made changes to their positions in the business. Allianz Asset Management GmbH lifted its holdings in Brunswick by 191.0% during the third quarter. Allianz Asset Management GmbH now owns 214,150 shares of the company’s stock valued at $13,543,000 after purchasing an additional 140,566 shares in the last quarter. Interval Partners LP lifted its holdings in Brunswick by 268.6% during the third quarter. Interval Partners LP now owns 521,401 shares of the company’s stock valued at $32,973,000 after purchasing an additional 379,937 shares in the last quarter. Perbak Capital Partners LLP purchased a new position in Brunswick during the third quarter valued at approximately $1,339,000. Federated Hermes Inc. lifted its holdings in Brunswick by 26.0% during the third quarter. Federated Hermes Inc. now owns 824,181 shares of the company’s stock valued at $52,121,000 after purchasing an additional 170,030 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Brunswick by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,494,664 shares of the company’s stock valued at $221,003,000 after purchasing an additional 11,777 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

About Brunswick

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.