Brunswick (NYSE:BC) Shares Down 5.8% – What’s Next?

Brunswick Co. (NYSE:BC) shares fell 5.8% on Tuesday . The stock traded as low as $80.83 and last traded at $80.83. 147,609 shares were traded during trading, a decline of 79% from the average session volume of 695,999 shares. The stock had previously closed at $85.82.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BC. Benchmark reaffirmed a “buy” rating and set a $100.00 target price on shares of Brunswick in a research note on Friday, October 25th. B. Riley cut shares of Brunswick from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $95.00 to $88.00 in a research note on Tuesday. Finally, Citigroup lifted their price objective on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. 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 Trading Down 0.1 %

The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17. The stock’s 50 day moving average is $81.90 and its two-hundred day moving average is $78.76. The company has a market capitalization of $5.32 billion, a PE ratio of 20.06 and a beta of 1.51.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.08%. Brunswick’s dividend payout ratio is presently 41.79%.

Insider Buying and Selling

In other Brunswick news, Director Nancy E. Cooper sold 366 shares of the business’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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David M. Foulkes sold 23,829 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the completion of the transaction, the chief executive officer now owns 251,094 shares of the company’s stock, valued at $20,142,760.68. This represents a 8.67 % 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 three months. 0.81% of the stock is owned by insiders.

Hedge Funds Weigh In On Brunswick

Hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in shares of Brunswick during the third quarter valued at about $26,000. Avior Wealth Management LLC boosted its position in Brunswick by 1,073.7% in the third quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock valued at $56,000 after buying an additional 612 shares during the last quarter. Covestor Ltd boosted its position in Brunswick by 669.0% in the third quarter. Covestor Ltd now owns 969 shares of the company’s stock valued at $81,000 after buying an additional 843 shares during the last quarter. GAMMA Investing LLC boosted its position in Brunswick by 92.5% in the third quarter. GAMMA Investing LLC now owns 1,155 shares of the company’s stock valued at $97,000 after buying an additional 555 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in Brunswick by 47.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,511 shares of the company’s stock worth $110,000 after purchasing an additional 483 shares in the last quarter. Institutional investors and hedge funds 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.