Brunswick (NYSE:BC) Given New $85.00 Price Target at Truist Financial

Brunswick (NYSE:BC - Free Report) had its price objective decreased by Truist Financial from $90.00 to $85.00 in a research note issued to investors on Tuesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other research firms have also recently commented on BC. B. Riley cut shares of Brunswick from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $95.00 to $88.00 in a research report on Tuesday, November 26th. Benchmark reissued a "buy" rating and set a $100.00 price objective on shares of Brunswick in a research note on Friday, October 25th. Finally, Citigroup boosted their price objective on Brunswick from $92.00 to $101.00 and gave the stock a "buy" rating in a report on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Brunswick currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.15.

Brunswick Stock Down 0.6 %

Shares of NYSE BC traded down $0.42 during midday trading on Tuesday, hitting $65.82. 547,071 shares of the stock traded hands, compared to its average volume of 684,868. The business has a 50 day moving average price of $75.46 and a two-hundred day moving average price of $77.26. Brunswick has a one year low of $63.08 and a one year high of $96.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97. The company has a market cap of $4.34 billion, a PE ratio of 16.37 and a beta of 1.54.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders 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 2.55%. The ex-dividend date was Wednesday, November 20th. Brunswick's payout ratio is 41.79%.

Insiders Place Their Bets

In related news, Director Nancy E. Cooper sold 366 shares of the firm's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.19, for a total transaction of $29,349.54. Following the completion of the transaction, the director now directly owns 24,557 shares of the company's stock, valued at approximately $1,969,225.83. This trade represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph W. Mcclanathan sold 4,745 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $80.14, for a total transaction of $380,264.30. Following the transaction, the director now directly owns 19,218 shares of the company's stock, valued at $1,540,130.52. This trade represents a 19.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,940 shares of company stock valued at $2,321,176. 0.81% of the stock is owned by insiders.

Institutional Trading of Brunswick

Several hedge funds have recently made changes to their positions in BC. Quest Partners LLC boosted its holdings in shares of Brunswick by 99,353.8% in the second quarter. Quest Partners LLC now owns 12,929 shares of the company's stock valued at $941,000 after purchasing an additional 12,916 shares during the period. American Century Companies Inc. increased its holdings in shares of Brunswick by 4.1% in the 2nd 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. raised its position in shares of Brunswick by 1.7% in the 2nd quarter. Federated Hermes Inc. now owns 838,996 shares of the company's stock worth $61,054,000 after acquiring an additional 14,144 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Brunswick by 4.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 167,160 shares of the company's stock worth $12,164,000 after purchasing an additional 6,853 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Brunswick by 2.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,637,962 shares of the company's stock valued at $191,964,000 after purchasing an additional 58,583 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

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.