Raymond James Trust N.A. Acquires New Position in Brunswick Co. (NYSE:BC)

Posted by Defense World Staff on Apr 27th, 2023

Raymond James Trust N.A. acquired a new stake in shares of Brunswick Co. (NYSE:BC – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,915 shares of the company’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. ProShare Advisors LLC lifted its stake in shares of Brunswick by 10.4% during the fourth quarter. ProShare Advisors LLC now owns 4,620 shares of the company’s stock valued at $333,000 after buying an additional 434 shares during the period. Profund Advisors LLC purchased a new position in Brunswick during the fourth quarter worth approximately $206,000. Monarch Partners Asset Management LLC purchased a new position in Brunswick during the fourth quarter worth approximately $2,999,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Brunswick by 10.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,537 shares of the company’s stock worth $760,000 after purchasing an additional 970 shares during the period. Finally, Cubic Asset Management LLC purchased a new position in Brunswick during the fourth quarter worth approximately $294,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Brunswick Price Performance

BC opened at $83.08 on Thursday. The company has a fifty day simple moving average of $82.99 and a 200 day simple moving average of $77.78. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 9.24 and a beta of 1.53. Brunswick Co. has a twelve month low of $61.89 and a twelve month high of $93.15. The company has a current ratio of 1.81, a quick ratio of 0.82 and a debt-to-equity ratio of 1.18.

Brunswick (NYSE:BC – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.02. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.66 billion. Brunswick had a net margin of 9.94% and a return on equity of 37.56%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $1.44 EPS. Equities research analysts expect that Brunswick Co. will post 10.35 EPS for the current fiscal year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Monday, February 27th were issued a dividend of $0.40 per share. This is a positive change from Brunswick’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, February 24th. Brunswick’s dividend payout ratio (DPR) is currently 17.80%.

Insiders Place Their Bets

In other Brunswick news, CFO Ryan M. Gwillim sold 5,710 shares of the firm’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $88.28, for a total transaction of $504,078.80. Following the completion of the transaction, the chief financial officer now directly owns 28,522 shares of the company’s stock, valued at approximately $2,517,922.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Brunswick news, CFO Ryan M. Gwillim sold 5,710 shares of the firm’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $88.28, for a total transaction of $504,078.80. Following the completion of the transaction, the chief financial officer now directly owns 28,522 shares of the company’s stock, valued at approximately $2,517,922.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher F. Dekker sold 7,353 shares of the firm’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $88.29, for a total transaction of $649,196.37. Following the transaction, the vice president now directly owns 41,455 shares of the company’s stock, valued at $3,660,061.95. The disclosure for this sale can be found here. Insiders sold a total of 13,234 shares of company stock valued at $1,167,542 in the last ninety days. Corporate insiders own 0.74% of the company’s stock.

Analysts Set New Price Targets

BC has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Brunswick from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. Jefferies Financial Group cut their price target on shares of Brunswick from $105.00 to $94.00 and set a “buy” rating on the stock in a research note on Friday, March 17th. MKM Partners increased their price target on shares of Brunswick from $91.00 to $105.00 in a research note on Friday, February 3rd. BMO Capital Markets increased their price target on shares of Brunswick from $110.00 to $122.00 in a research note on Friday, February 3rd. Finally, Roth Capital reissued a “buy” rating on shares of Brunswick in a research note on Thursday, February 2nd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $102.75.

Brunswick Profile

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Brunswick Corp. engages in the design, manufacture, and marketing of recreational marine products, including marine engines, boats, and parts and accessories for those products. It operates through the following segments: Propulsion, Parts and Accessories, Boat, and Corporate/Other. The Propulsion segment manufactures a full range of outboard, sterndrive, and inboard engines, as well as propulsion-related controls, propellers, and rigging parts and accessories.