458,346 Shares in Brunswick Co. (NYSE:BC) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Brunswick Co. (NYSE:BC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 458,346 shares of the company's stock, valued at approximately $29,646,000. Raymond James Financial Inc. owned approximately 0.69% of Brunswick at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in BC. Verdence Capital Advisors LLC purchased a new position in Brunswick in the fourth quarter valued at about $273,000. Proficio Capital Partners LLC purchased a new position in Brunswick in the fourth quarter valued at about $2,827,000. Charles Schwab Investment Management Inc. grew its stake in Brunswick by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 715,358 shares of the company's stock valued at $46,269,000 after purchasing an additional 14,089 shares during the last quarter. Levin Capital Strategies L.P. grew its stake in Brunswick by 5.5% in the fourth 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 last quarter. Finally, QRG Capital Management Inc. grew its stake in Brunswick by 4.5% in the fourth quarter. QRG Capital Management Inc. now owns 20,288 shares of the company's stock valued at $1,312,000 after purchasing an additional 879 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Brunswick Stock Performance

Shares of Brunswick stock traded down $2.13 on Tuesday, reaching $57.11. 556,504 shares of the stock were exchanged, compared to its average volume of 679,883. The company has a quick ratio of 0.63, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. Brunswick Co. has a twelve month low of $54.97 and a twelve month high of $96.65. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 30.06 and a beta of 1.54. The business has a 50 day moving average price of $64.05 and a two-hundred day moving average price of $73.11.

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Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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 firm earned $1.45 earnings per share. Analysts anticipate that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were issued a $0.43 dividend. The ex-dividend date of this dividend was Monday, February 24th. 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%. Brunswick's payout ratio is presently 90.53%.

Wall Street Analyst Weigh In

BC has been the topic of several analyst reports. Truist Financial cut their target price on Brunswick from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley boosted their price target on Brunswick from $64.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. DA Davidson dropped their price target on Brunswick from $80.00 to $60.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 22nd. Citigroup dropped their price target on Brunswick from $92.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Finally, Robert W. Baird set a $90.00 price target on Brunswick in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.62.

Insider Buying and Selling at Brunswick

In other news, SVP Randall S. Altman sold 3,417 shares of the company'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 completion of the transaction, the senior vice president now directly owns 26,683 shares of the company's stock, valued at $1,686,632.43. This represents a 11.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the director now directly owns 25,361 shares of the company's stock, valued at approximately $1,664,949.65. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is currently 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.