Handelsbanken Fonder AB Cuts Holdings in Brunswick Co. (NYSE:BC)

Handelsbanken Fonder AB cut its stake in Brunswick Co. (NYSE:BC - Free Report) by 87.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,400 shares of the company's stock after selling 123,500 shares during the quarter. Handelsbanken Fonder AB's holdings in Brunswick were worth $1,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Armstrong Advisory Group Inc. bought a new position in Brunswick in the fourth quarter valued at about $39,000. Financial Perspectives Inc purchased a new stake in Brunswick in the 4th quarter worth approximately $42,000. Avior Wealth Management LLC raised its stake in Brunswick by 1,073.7% during the 3rd quarter. Avior Wealth Management LLC now owns 669 shares of the company's stock worth $56,000 after acquiring an additional 612 shares during the period. Covestor Ltd lifted its holdings in Brunswick by 669.0% during the third quarter. Covestor Ltd now owns 969 shares of the company's stock valued at $81,000 after purchasing an additional 843 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Brunswick by 21.7% in the third quarter. KBC Group NV now owns 2,025 shares of the company's stock worth $170,000 after purchasing an additional 361 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BC has been the topic of a number of analyst reports. Roth Mkm lowered their target price on shares of Brunswick from $91.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. Truist Financial lowered their price objective on Brunswick from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Citigroup cut their target price on Brunswick from $92.00 to $85.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Morgan Stanley boosted their price target on Brunswick from $64.00 to $65.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Finally, Robert W. Baird set a $90.00 price objective on shares of Brunswick in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $81.62.

Insider Buying and Selling

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

Brunswick Price Performance

Shares of NYSE:BC traded down $1.89 on Monday, reaching $58.96. The company's stock had a trading volume of 741,994 shares, compared to its average volume of 673,311. The company has a 50-day simple moving average of $65.66 and a 200 day simple moving average of $74.69. Brunswick Co. has a 52-week low of $58.66 and a 52-week high of $96.65. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65. The company has a market cap of $3.88 billion, a P/E ratio of 31.03 and a beta of 1.54.

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

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 24th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.92%. This is an increase from Brunswick's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, February 24th. Brunswick's dividend payout ratio is presently 90.53%.

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.