Brunswick Co. (NYSE:BC) to Issue Quarterly Dividend of $0.42

Brunswick Co. (NYSE:BC) declared a quarterly dividend on Tuesday, October 15th,Zacks Dividends reports. Stockholders of record on Wednesday, November 20th will be given a dividend of 0.42 per share on Friday, December 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Wednesday, November 20th.

Brunswick has raised its dividend payment by an average of 17.4% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Brunswick has a dividend payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Brunswick to earn $5.23 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 32.1%.

Brunswick Trading Down 0.8 %

NYSE BC opened at $80.20 on Monday. The company’s fifty day simple moving average is $81.41 and its 200-day simple moving average is $78.81. Brunswick has a 52 week low of $69.05 and a 52 week high of $99.68. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The stock has a market cap of $5.29 billion, a P/E ratio of 19.95 and a beta of 1.51.

Analyst Ratings Changes

Several analysts recently issued reports on BC shares. Benchmark reaffirmed a “buy” rating and issued a $100.00 price target on shares of Brunswick in a report on Friday, October 25th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $70.00 price target (down from $115.00) on shares of Brunswick in a report on Friday, July 26th. Robert W. Baird cut their price target on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Roth Mkm reaffirmed a “buy” rating and issued a $94.00 price target on shares of Brunswick in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Brunswick currently has an average rating of “Moderate Buy” and a consensus price target of $89.23.

Insider Activity at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 366 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of the sale, the director now directly owns 24,557 shares of the company’s stock, valued at approximately $1,969,225.83. This represents a 1.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph W. Mcclanathan sold 4,745 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $80.14, for a total transaction of $380,264.30. Following the completion of the sale, the director now directly owns 19,218 shares of the company’s stock, valued at $1,540,130.52. The trade was a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,940 shares of company stock worth $2,321,176 in the last 90 days. 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.