Vanguard Group Inc. Cuts Stock Holdings in Brunswick Co. (NYSE:BC)

Vanguard Group Inc. decreased its holdings in shares of Brunswick Co. (NYSE:BC - Free Report) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,020,592 shares of the company's stock after selling 48,137 shares during the quarter. Vanguard Group Inc. owned about 10.64% of Brunswick worth $454,092,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Pacer Advisors Inc. lifted its position in Brunswick by 2.0% during the fourth quarter. Pacer Advisors Inc. now owns 9,861 shares of the company's stock worth $638,000 after buying an additional 190 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted 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 valued at $316,000 after acquiring an additional 236 shares during the last quarter. Xponance Inc. increased its position in 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 last quarter. Hunter Associates Investment Management LLC boosted its holdings in Brunswick by 2.5% in the 4th quarter. Hunter Associates Investment Management LLC now owns 18,127 shares of the company's stock valued at $1,170,000 after purchasing an additional 447 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Brunswick by 11.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,431 shares of the company's stock worth $351,000 after buying an additional 572 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, SVP Randall S. Altman sold 3,417 shares of the stock in a transaction dated Wednesday, February 26th. The shares were 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 in the company, valued at approximately $1,686,632.43. This represents a 11.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nancy E. Cooper sold 433 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were 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 owns 25,361 shares in the company, valued at $1,664,949.65. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

Brunswick Stock Down 2.8 %

Brunswick stock traded down $1.33 during mid-day trading on Friday, hitting $46.60. The company had a trading volume of 2,983,522 shares, compared to its average volume of 723,515. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 24.53 and a beta of 1.54. 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 1 year low of $42.87 and a 1 year high of $95.38. The business has a fifty day moving average of $61.13 and a 200 day moving average of $71.20.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly 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 net margin of 2.48% and a return on equity of 15.41%. During the same quarter last year, the company posted $1.45 EPS. On average, sell-side analysts expect that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 24th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Monday, February 24th. This is an increase from Brunswick's previous quarterly dividend of $0.42. Brunswick's dividend payout ratio (DPR) is currently 90.53%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Truist Financial lowered their price objective on Brunswick from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Roth Mkm cut their price objective on Brunswick from $91.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, January 24th. Benchmark decreased their target price on shares of Brunswick from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Citigroup decreased their price objective on shares of Brunswick from $92.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Finally, DA Davidson dropped their price objective on Brunswick from $80.00 to $60.00 and set a "neutral" rating for the company in a research note on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $79.00.

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.