TimesSquare Capital Management LLC Decreases Stock Position in Brunswick Co. (NYSE:BC)

TimesSquare Capital Management LLC decreased its holdings in Brunswick Co. (NYSE:BC - Free Report) by 40.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 394,326 shares of the company's stock after selling 265,857 shares during the quarter. TimesSquare Capital Management LLC owned about 0.60% of Brunswick worth $25,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. bought a new position in Brunswick in the fourth quarter worth $39,000. Avior Wealth Management LLC raised its holdings in Brunswick by 1,073.7% in the third quarter. Avior Wealth Management LLC now owns 669 shares of the company's stock worth $56,000 after purchasing an additional 612 shares in the last quarter. Covestor Ltd raised its holdings in Brunswick by 669.0% in the third quarter. Covestor Ltd now owns 969 shares of the company's stock worth $81,000 after purchasing an additional 843 shares in the last quarter. CWM LLC raised its holdings in Brunswick by 21.6% in the third quarter. CWM LLC now owns 1,323 shares of the company's stock worth $111,000 after purchasing an additional 235 shares in the last quarter. Finally, KBC Group NV raised its holdings in Brunswick by 21.7% in the third quarter. KBC Group NV now owns 2,025 shares of the company's stock worth $170,000 after purchasing an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BC. DA Davidson reduced their price target on Brunswick from $80.00 to $60.00 and set a "neutral" rating for the company in a report on Wednesday, January 22nd. Roth Mkm reduced their price target on Brunswick from $91.00 to $85.00 and set a "buy" rating for the company in a report on Friday, January 24th. B. Riley upgraded Brunswick to a "hold" rating in a report on Wednesday, February 12th. Truist Financial reduced their price target on Brunswick from $90.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Finally, Robert W. Baird set a $90.00 price target on Brunswick in a report on Friday, January 31st. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $81.62.

Insider Activity at Brunswick

In other 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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is owned by corporate insiders.

Brunswick Stock Performance

Shares of BC stock traded down $1.21 during trading hours on Friday, reaching $62.81. 510,876 shares of the company traded hands, compared to its average volume of 779,103. The firm has a 50-day moving average price of $66.37 and a 200 day moving average price of $75.14. The company has a market cap of $4.14 billion, a P/E ratio of 33.06 and a beta of 1.54. Brunswick Co. has a 12-month low of $62.33 and a 12-month high of $96.65. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63.

Brunswick (NYSE:BC - Get Free Report) last issued its earnings results 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 quarter in the prior year, the firm posted $1.45 EPS. As a group, sell-side analysts predict that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 24th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 2.74%. The ex-dividend date is Monday, February 24th. This is an increase from Brunswick's previous quarterly dividend of $0.42. Brunswick's dividend payout ratio (DPR) is 88.42%.

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.