Russell Investments Group Ltd. Sells 8,611 Shares of Brunswick Co. (NYSE:BC)

Russell Investments Group Ltd. reduced its stake in Brunswick Co. (NYSE:BC) by 10.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,900 shares of the company’s stock after selling 8,611 shares during the period. Russell Investments Group Ltd. owned 0.11% of Brunswick worth $7,150,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BC. Harvest Fund Management Co. Ltd increased its holdings in Brunswick by 14,566.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 440 shares of the company’s stock worth $43,000 after purchasing an additional 437 shares during the period. GAMMA Investing LLC bought a new position in shares of Brunswick during the 4th quarter worth $52,000. Foster & Motley Inc. purchased a new position in shares of Brunswick during the fourth quarter valued at $727,000. Jennison Associates LLC raised its holdings in shares of Brunswick by 71.0% in the fourth quarter. Jennison Associates LLC now owns 806,396 shares of the company’s stock valued at $78,019,000 after acquiring an additional 334,851 shares in the last quarter. Finally, Duality Advisers LP lifted its stake in Brunswick by 106.3% in the fourth quarter. Duality Advisers LP now owns 8,409 shares of the company’s stock worth $814,000 after acquiring an additional 4,332 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BC has been the subject of several recent research reports. B. Riley upgraded shares of Brunswick from a “neutral” rating to a “buy” rating and boosted their price target for the company from $100.00 to $108.00 in a report on Tuesday, February 20th. Morgan Stanley lowered their target price on Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Truist Financial cut their price target on Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. DA Davidson restated a “neutral” rating and set a $77.00 price objective on shares of Brunswick in a research note on Friday, March 15th. Finally, BNP Paribas reiterated a “neutral” rating and issued a $82.00 target price (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.83.

Brunswick Stock Down 0.2 %

BC stock opened at $81.69 on Wednesday. The stock has a market capitalization of $5.52 billion, a PE ratio of 15.18 and a beta of 1.60. Brunswick Co. has a 52 week low of $66.47 and a 52 week high of $99.68. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average of $88.18 and a 200 day moving average of $85.30.

Brunswick (NYSE:BC) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm earned $2.57 earnings per share. Brunswick’s quarterly revenue was down 21.7% compared to the same quarter last year. Sell-side analysts forecast that Brunswick Co. will post 7.39 earnings per share for the current year.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, May 13th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, May 10th. Brunswick’s dividend payout ratio (DPR) is 31.23%.

Insider Activity at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 6,234 shares of Brunswick stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the sale, the vice president now directly owns 35,176 shares in the company, valued at approximately $2,973,427.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP John G. Buelow sold 2,426 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $87.12, for a total transaction of $211,353.12. Following the sale, the executive vice president now directly owns 14,199 shares of the company’s stock, valued at $1,237,016.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher F. Dekker sold 6,234 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $84.53, for a total value of $526,960.02. Following the completion of the transaction, the vice president now directly owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The disclosure for this sale can be found here. Insiders have sold a total of 53,053 shares of company stock worth $4,602,880 over the last quarter. Insiders own 0.81% of the company’s stock.

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.