New York State Common Retirement Fund Has $4.39 Million Stock Holdings in Brunswick Co. (NYSE:BC)

New York State Common Retirement Fund lowered its stake in Brunswick Co. (NYSE:BC) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 45,411 shares of the company’s stock after selling 7,100 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of Brunswick worth $4,394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Valley National Advisers Inc. bought a new stake in Brunswick in the third quarter valued at about $25,000. Fifth Third Bancorp increased its stake in shares of Brunswick by 17.9% in the 3rd quarter. Fifth Third Bancorp now owns 1,042 shares of the company’s stock valued at $82,000 after acquiring an additional 158 shares during the last quarter. Ramirez Asset Management Inc. acquired a new stake in shares of Brunswick in the 3rd quarter valued at approximately $163,000. Trust Point Inc. bought a new position in Brunswick during the 4th quarter worth approximately $212,000. Finally, Custom Index Systems LLC acquired a new position in Brunswick during the fourth quarter valued at approximately $241,000. 99.34% of the stock is currently owned by institutional investors.

Brunswick Stock Performance

Shares of BC stock opened at $81.33 on Monday. Brunswick Co. has a 12 month low of $66.47 and a 12 month high of $99.68. The company’s fifty day simple moving average is $88.38 and its 200-day simple moving average is $85.17. The firm has a market cap of $5.60 billion, a PE ratio of 15.12 and a beta of 1.60. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 1.16.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. The firm’s quarterly revenue was down 21.7% on a year-over-year basis. Equities research analysts expect that Brunswick Co. will post 7.39 EPS for the current fiscal year.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, May 13th will be paid a $0.42 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.68 dividend on an annualized basis and a yield of 2.07%. Brunswick’s dividend payout ratio is 31.23%.

Analyst Ratings Changes

BC has been the topic of several analyst reports. BNP Paribas reiterated a “neutral” rating and issued a $82.00 target price (down from $94.00) on shares of Brunswick in a report on Monday, April 15th. DA Davidson reaffirmed a “neutral” rating and set a $77.00 price target on shares of Brunswick in a research report on Friday, March 15th. B. Riley upgraded Brunswick from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $108.00 in a research report on Tuesday, February 20th. Truist Financial dropped their target price on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Finally, Stifel Nicolaus lifted their price target on shares of Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.83.

Insiders Place Their Bets

In other news, Director Nancy E. Cooper sold 357 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total value of $28,681.38. Following the completion of the sale, the director now owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Brunswick news, EVP John G. Buelow sold 2,426 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.12, for a total transaction of $211,353.12. Following the transaction, the executive vice president now owns 14,199 shares of the company’s stock, valued at $1,237,016.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Nancy E. Cooper sold 357 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the completion of the sale, the director now owns 23,211 shares in the company, valued at approximately $1,864,771.74. The disclosure for this sale can be found here. Insiders have sold 53,053 shares of company stock valued at $4,602,880 in the last 90 days. 0.81% of the stock is currently owned by insiders.

Brunswick 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.