C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys New Position in Brunswick Co. (NYSE:BC)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Brunswick Co. (NYSE:BC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 34,181 shares of the company's stock, valued at approximately $2,211,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned approximately 0.05% of Brunswick at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BC. Massachusetts Financial Services Co. MA lifted its stake in Brunswick by 17.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company's stock valued at $259,010,000 after buying an additional 452,116 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Brunswick by 1,120.5% during the third quarter. Janus Henderson Group PLC now owns 354,631 shares of the company's stock valued at $29,725,000 after buying an additional 325,574 shares in the last quarter. Lightrock Netherlands B.V. acquired a new position in shares of Brunswick in the 4th quarter valued at about $16,400,000. Lord Abbett & CO. LLC increased its holdings in shares of Brunswick by 50.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 683,943 shares of the company's stock valued at $57,328,000 after purchasing an additional 228,662 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in shares of Brunswick by 447.5% in the 3rd quarter. New York State Common Retirement Fund now owns 271,681 shares of the company's stock valued at $22,772,000 after purchasing an additional 222,062 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

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Brunswick Stock Performance

Shares of BC traded up $0.57 during mid-day trading on Friday, hitting $65.55. The company's stock had a trading volume of 441,920 shares, compared to its average volume of 744,441. The firm has a market capitalization of $4.32 billion, a PE ratio of 34.50 and a beta of 1.54. Brunswick Co. has a one year low of $62.64 and a one year high of $96.65. The stock's 50-day moving average is $67.50 and its two-hundred day moving average is $75.60. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65.

Brunswick (NYSE:BC - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $0.24 EPS for the quarter, topping 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 in the previous year, the company earned $1.45 earnings per share. As a group, sell-side analysts anticipate that Brunswick Co. will post 4.2 EPS for the current year.

Brunswick Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Monday, February 24th. This is an increase from Brunswick's previous quarterly dividend of $0.42. Brunswick's payout ratio is currently 88.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BC. Truist Financial dropped their target price on Brunswick from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Roth Mkm dropped their price objective on Brunswick from $91.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Stifel Nicolaus lowered their price target on Brunswick from $95.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. DA Davidson lowered their price target on Brunswick from $80.00 to $60.00 and set a "neutral" rating on the stock in a report on Wednesday, January 22nd. Finally, Citigroup lowered their price target on Brunswick from $92.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $81.85.

Insider Activity

In related news, Director Nancy E. Cooper sold 433 shares of Brunswick stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $65.65, for a total value of $28,426.45. Following the completion of the transaction, the director now directly owns 25,361 shares of the company's stock, valued at $1,664,949.65. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.81% of the stock is owned by corporate insiders.

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.