Brunswick (NYSE:BC) Shares Pass Above 200-Day Moving Average – What’s Next?

Brunswick Corporation (NYSE:BC) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $73.65 and traded as high as $74.37. Brunswick shares last traded at $73.4770, with a volume of 533,344 shares trading hands.

Analyst Upgrades and Downgrades

BC has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on Brunswick from $73.00 to $78.00 and gave the stock a “neutral” rating in a research note on Monday, March 16th. Griffin Securities set a $76.00 price target on Brunswick in a research note on Monday, February 2nd. DA Davidson upped their price target on Brunswick from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. Wall Street Zen upgraded Brunswick from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Finally, Robert W. Baird set a $85.00 price target on Brunswick in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $84.57.

Brunswick Price Performance

The stock has a fifty day moving average of $78.44 and a two-hundred day moving average of $73.65. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of -34.66 and a beta of 1.38. The company has a quick ratio of 0.61, a current ratio of 1.44 and a debt-to-equity ratio of 1.11.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. Brunswick’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities research analysts anticipate that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Monday, February 23rd were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.4%. This is a positive change from Brunswick’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Monday, February 23rd. Brunswick’s dividend payout ratio is currently -83.02%.

Insider Buying and Selling at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 4,981 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $87.38, for a total value of $435,239.78. Following the sale, the vice president owned 39,740 shares of the company’s stock, valued at approximately $3,472,481.20. This represents a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David M. Foulkes sold 38,266 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 271,169 shares in the company, valued at $23,472,388.64. This trade represents a 12.37% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Brunswick

Several large investors have recently bought and sold shares of BC. First Horizon Corp acquired a new stake in Brunswick in the third quarter valued at $26,000. Farther Finance Advisors LLC grew its holdings in Brunswick by 72.3% in the fourth quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock valued at $28,000 after purchasing an additional 159 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Brunswick in the fourth quarter valued at $30,000. Jones Financial Companies Lllp grew its holdings in Brunswick by 50.6% in the third quarter. Jones Financial Companies Lllp now owns 494 shares of the company’s stock valued at $31,000 after purchasing an additional 166 shares during the last quarter. Finally, Quarry LP grew its holdings in Brunswick by 38.4% in the fourth quarter. Quarry LP now owns 440 shares of the company’s stock valued at $33,000 after purchasing an additional 122 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Brunswick Company Profile

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.