Fmr LLC Has $191.64 Million Stake in Brunswick Co. (NYSE:BC)

FMR LLC lessened its stake in shares of Brunswick Co. (NYSE:BC - Free Report) by 28.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,962,832 shares of the company's stock after selling 1,191,834 shares during the quarter. FMR LLC owned about 4.49% of Brunswick worth $191,636,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, Director Nancy E. Cooper sold 433 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was 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 $1,664,949.65. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Randall S. Altman sold 3,417 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now owns 26,683 shares of the company's stock, valued at approximately $1,686,632.43. The trade was a 11.35 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Brunswick Price Performance

BC stock traded up $0.40 during midday trading on Friday, reaching $43.74. 1,181,133 shares of the stock were exchanged, compared to its average volume of 755,832. 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 stock has a market capitalization of $2.88 billion, a PE ratio of 23.02 and a beta of 1.42. Brunswick Co. has a 52 week low of $41.00 and a 52 week high of $87.65. The company has a fifty day moving average price of $55.64 and a 200 day moving average price of $68.14.

Brunswick (NYSE:BC - Get Free Report) last released 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 in the prior year, the company earned $1.45 earnings per share. As a group, analysts expect that Brunswick Co. will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Monday, February 24th. This is a positive change from Brunswick's previous quarterly dividend of $0.42. Brunswick's payout ratio is 90.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BC shares. Citigroup lowered their price objective on Brunswick from $92.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Roth Mkm dropped their price target on Brunswick from $91.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, January 24th. Truist Financial cut their price objective on shares of Brunswick from $85.00 to $60.00 and set a "buy" rating for the company in a research report on Monday. Robert W. Baird reissued a "neutral" rating and issued a $56.00 target price (down from $90.00) on shares of Brunswick in a report on Friday, April 4th. Finally, Baird R W downgraded shares of Brunswick from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $76.67.

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.