Charles Schwab Investment Management Inc. Grows Stock Position in Brunswick Co. (NYSE:BC)

Charles Schwab Investment Management Inc. grew its holdings in Brunswick Co. (NYSE:BC - Free Report) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 715,358 shares of the company's stock after purchasing an additional 14,089 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.08% of Brunswick worth $46,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Levin Capital Strategies L.P. lifted its stake in shares of Brunswick by 5.5% in the 4th quarter. Levin Capital Strategies L.P. now owns 91,504 shares of the company's stock valued at $5,918,000 after purchasing an additional 4,809 shares during the period. QRG Capital Management Inc. raised its stake in Brunswick by 4.5% during the 4th quarter. QRG Capital Management Inc. now owns 20,288 shares of the company's stock worth $1,312,000 after buying an additional 879 shares during the period. Proficio Capital Partners LLC acquired a new position in Brunswick during the 4th quarter worth approximately $2,827,000. Bank of New York Mellon Corp boosted its holdings in Brunswick by 16.7% in the fourth quarter. Bank of New York Mellon Corp now owns 766,509 shares of the company's stock worth $49,578,000 after acquiring an additional 109,728 shares in the last quarter. Finally, Skylands Capital LLC boosted its holdings in Brunswick by 38.5% in the fourth quarter. Skylands Capital LLC now owns 21,575 shares of the company's stock worth $1,395,000 after acquiring an additional 6,000 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

In related news, SVP Randall S. Altman sold 3,417 shares of Brunswick stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the completion of the sale, the senior vice president now owns 26,683 shares of the company's stock, valued at approximately $1,686,632.43. This trade represents a 11.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nancy E. Cooper sold 433 shares of Brunswick stock in a transaction on 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 of the company's stock, valued at $1,664,949.65. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.81% of the company's stock.

Brunswick Stock Performance

Shares of BC traded down $2.13 on Tuesday, reaching $57.11. 556,504 shares of the company's stock traded hands, compared to its average volume of 679,883. The company has a current ratio of 1.65, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. The stock's 50 day simple moving average is $64.05 and its two-hundred day simple moving average is $73.11. Brunswick Co. has a 52-week low of $54.97 and a 52-week high of $96.65. The stock has a market cap of $3.76 billion, a PE ratio of 30.06 and a beta of 1.54.

Brunswick (NYSE:BC - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 prior year, the company earned $1.45 earnings per share. On average, analysts forecast that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were given a $0.43 dividend. This is an increase from Brunswick's previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Monday, February 24th. Brunswick's dividend payout ratio (DPR) is currently 90.53%.

Wall Street Analysts Forecast Growth

BC has been the topic of several recent research reports. Roth Mkm cut their price target on Brunswick from $91.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, January 24th. Truist Financial cut their price target on Brunswick from $90.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. B. Riley raised Brunswick to a "hold" rating in a research note on Wednesday, February 12th. Robert W. Baird set a $90.00 price objective on Brunswick in a research note on Friday, January 31st. Finally, Benchmark lowered their price objective on Brunswick from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.62.

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.