Brunswick (NYSE:BC) Sets New 1-Year Low – Should You Sell?

Brunswick Co. (NYSE:BC)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $62.91 and last traded at $63.04, with a volume of 292277 shares trading hands. The stock had previously closed at $65.14.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BC. Citigroup raised their price target on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Truist Financial decreased their target price on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Benchmark reaffirmed a “buy” rating and issued a $100.00 price target on shares of Brunswick in a report on Friday, October 25th. Finally, B. Riley downgraded shares of Brunswick from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $95.00 to $88.00 in a research report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $88.15.

Brunswick Stock Performance

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 $4.18 billion, a price-to-earnings ratio of 15.76 and a beta of 1.54. The stock’s 50 day moving average is $74.49 and its two-hundred day moving average is $77.04.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 20th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Wednesday, November 20th. Brunswick’s dividend payout ratio is currently 41.79%.

Insider Activity at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 23,829 shares of Brunswick stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total value of $1,911,562.38. Following the sale, the chief executive officer now owns 251,094 shares of the company’s stock, valued at approximately $20,142,760.68. The trade was a 8.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph W. Mcclanathan sold 4,745 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.14, for a total value of $380,264.30. Following the transaction, the director now directly owns 19,218 shares of the company’s stock, valued at approximately $1,540,130.52. This trade represents a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,940 shares of company stock worth $2,321,176 in the last quarter. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BC. American Century Companies Inc. lifted its holdings in Brunswick by 4.1% in the second quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock valued at $106,337,000 after acquiring an additional 57,605 shares during the period. Federated Hermes Inc. increased its holdings in shares of Brunswick by 1.7% in the 2nd quarter. Federated Hermes Inc. now owns 838,996 shares of the company’s stock valued at $61,054,000 after purchasing an additional 14,144 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Brunswick by 4.3% in the second quarter. Envestnet Asset Management Inc. now owns 167,160 shares of the company’s stock valued at $12,164,000 after purchasing an additional 6,853 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Brunswick by 2.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,637,962 shares of the company’s stock worth $191,964,000 after buying an additional 58,583 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Brunswick by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company’s stock worth $152,577,000 after buying an additional 144,416 shares during the period. Institutional investors and hedge funds own 99.34% 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.