Brunswick Co. (NYSE:BC – Get Free Report) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 4,760,000 shares, a decrease of 9.0% from the September 15th total of 5,230,000 shares. Based on an average daily trading volume, of 700,800 shares, the days-to-cover ratio is currently 6.8 days. Currently, 7.3% of the company’s shares are sold short.
Analysts Set New Price Targets
Several equities analysts have recently commented on BC shares. Jefferies Financial Group restated a “hold” rating and set a $70.00 price target (down from $115.00) on shares of Brunswick in a report on Friday, July 26th. JPMorgan Chase & Co. dropped their target price on Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Citigroup lifted their price target on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, September 27th. B. Riley dropped their price objective on Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, Roth Mkm reiterated a “buy” rating and issued a $94.00 target price on shares of Brunswick in a research note on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.23.
Brunswick Stock Performance
BC stock traded up $0.28 during mid-day trading on Thursday, reaching $84.17. 569,314 shares of the stock traded hands, compared to its average volume of 714,082. The company has a quick ratio of 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. The business has a 50-day moving average of $79.54 and a two-hundred day moving average of $79.73. The firm has a market capitalization of $5.69 billion, a PE ratio of 15.41 and a beta of 1.51. Brunswick has a 52 week low of $66.47 and a 52 week high of $99.68.
Brunswick (NYSE:BC – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The business’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.35 earnings per share. As a group, equities analysts predict that Brunswick will post 5.26 EPS for the current fiscal year.
Brunswick Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, November 20th. Brunswick’s dividend payout ratio is currently 31.23%.
Insider Buying and Selling at Brunswick
In related news, Director Nancy E. Cooper sold 358 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $81.34, for a total value of $29,119.72. Following the completion of the transaction, the director now owns 23,877 shares of the company’s stock, valued at approximately $1,942,155.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.81% of the company’s stock.
Institutional Investors Weigh In On Brunswick
A number of institutional investors have recently added to or reduced their stakes in BC. Quadrature Capital Ltd lifted its holdings in shares of Brunswick by 66.8% during the fourth quarter. Quadrature Capital Ltd now owns 8,385 shares of the company’s stock valued at $811,000 after acquiring an additional 3,359 shares during the period. CWM LLC grew its holdings in Brunswick by 36.5% during the 1st quarter. CWM LLC now owns 1,205 shares of the company’s stock worth $116,000 after acquiring an additional 322 shares during the last quarter. Mather Group LLC. bought a new position in shares of Brunswick in the first quarter worth about $162,000. Rise Advisors LLC lifted its position in shares of Brunswick by 249.5% during the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after purchasing an additional 232 shares in the last quarter. Finally, Sendero Wealth Management LLC lifted its position in shares of Brunswick by 14.0% during the first quarter. Sendero Wealth Management LLC now owns 34,453 shares of the company’s stock worth $3,325,000 after purchasing an additional 4,242 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.
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.