AXQ Capital LP Buys New Stake in Brunswick Co. (NYSE:BC)

AXQ Capital LP purchased a new stake in shares of Brunswick Co. (NYSE:BC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 15,561 shares of the company's stock, valued at approximately $1,006,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. raised its stake in Brunswick by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 9,861 shares of the company's stock worth $638,000 after buying an additional 190 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Brunswick by 5.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the company's stock worth $316,000 after acquiring an additional 236 shares in the last quarter. Xponance Inc. lifted its stake in shares of Brunswick by 4.9% in the 4th quarter. Xponance Inc. now owns 7,617 shares of the company's stock valued at $493,000 after purchasing an additional 359 shares during the period. Hunter Associates Investment Management LLC boosted its position in shares of Brunswick by 2.5% during the fourth quarter. Hunter Associates Investment Management LLC now owns 18,127 shares of the company's stock valued at $1,170,000 after purchasing an additional 447 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in Brunswick by 11.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,431 shares of the company's stock worth $351,000 after purchasing an additional 572 shares during the period. Hedge funds and other institutional investors own 99.34% of the company's stock.

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Insider Activity

In related news, SVP Randall S. Altman sold 3,417 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total value of $215,988.57. Following the completion of the transaction, the senior vice president now owns 26,683 shares of the company's stock, valued at approximately $1,686,632.43. This represents a 11.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nancy E. Cooper sold 433 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the sale, the director now directly owns 25,361 shares in the company, valued at approximately $1,664,949.65. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.81% of the company's stock.

Brunswick Stock Performance

Shares of BC traded up $0.06 during trading hours on Wednesday, hitting $56.29. The stock had a trading volume of 951,290 shares, compared to its average volume of 680,278. The stock has a fifty day moving average price of $62.86 and a 200 day moving average price of $72.12. Brunswick Co. has a 12 month low of $54.97 and a 12 month high of $96.65. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63. The firm has a market capitalization of $3.71 billion, a PE ratio of 29.62 and a beta of 1.54.

Brunswick (NYSE:BC - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same quarter in the prior year, the business posted $1.45 earnings per share. Analysts anticipate that Brunswick Co. will post 4.19 EPS for the current year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were paid a $0.43 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.72 annualized dividend and a dividend yield of 3.06%. This is an increase from Brunswick's previous quarterly dividend of $0.42. Brunswick's dividend payout ratio (DPR) is 90.53%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BC. Morgan Stanley lifted their price target on shares of Brunswick from $64.00 to $65.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. B. Riley raised Brunswick to a "hold" rating in a research report on Wednesday, February 12th. Stifel Nicolaus reduced their price objective on Brunswick from $95.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. Truist Financial cut their target price on Brunswick from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Finally, Roth Mkm cut their price objective on shares of Brunswick from $91.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $81.62.

Brunswick 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.