Brunswick (NYSE:BC) Rating Lowered to Neutral at B. Riley

B. Riley cut shares of Brunswick (NYSE:BC) from a buy rating to a neutral rating in a report issued on Tuesday morning, MarketBeat.com reports. B. Riley currently has $88.00 price objective on the stock, down from their prior price objective of $95.00.

Several other brokerages have also recently issued reports on BC. Northcoast Research raised shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Monday, July 29th. Benchmark reiterated a “buy” rating and set a $100.00 target price on shares of Brunswick in a report on Friday, October 25th. Finally, Citigroup raised their price target on shares of Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.54.

Brunswick Price Performance

BC stock opened at $80.51 on Tuesday. The business’s fifty day moving average price is $81.79 and its 200 day moving average price is $78.79. Brunswick has a 12-month low of $69.05 and a 12-month 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 company has a market capitalization of $5.31 billion, a PE ratio of 20.05 and a beta of 1.51.

Brunswick Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, November 20th. Brunswick’s dividend payout ratio (DPR) is 41.79%.

Insider Transactions at Brunswick

In related news, CEO David M. Foulkes sold 23,829 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total value of $1,911,562.38. Following the completion of the sale, the chief executive officer now directly owns 251,094 shares of the company’s stock, valued at $20,142,760.68. The trade was a 8.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nancy E. Cooper sold 366 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.19, for a total value of $29,349.54. Following the transaction, the director now directly owns 24,557 shares in the company, valued at approximately $1,969,225.83. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,940 shares of company stock valued at $2,321,176. 0.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its holdings in shares of Brunswick by 102.6% in the first quarter. Tidal Investments LLC now owns 16,236 shares of the company’s stock valued at $1,567,000 after purchasing an additional 8,224 shares during the period. Comerica Bank lifted its stake in shares of Brunswick by 0.6% in the 1st quarter. Comerica Bank now owns 35,548 shares of the company’s stock worth $3,431,000 after acquiring an additional 205 shares during the period. Swedbank AB purchased a new stake in shares of Brunswick in the first quarter valued at about $19,304,000. Harbor Capital Advisors Inc. raised its holdings in Brunswick by 292.5% during the second quarter. Harbor Capital Advisors Inc. now owns 9,224 shares of the company’s stock worth $671,000 after purchasing an additional 6,874 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in Brunswick by 12.3% in the second quarter. QRG Capital Management Inc. now owns 13,341 shares of the company’s stock valued at $971,000 after purchasing an additional 1,456 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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.