Toronto Dominion Bank Acquires Shares of 80,000 Brunswick Co. (NYSE:BC)

Posted by Defense World Staff on May 8th, 2023

Toronto Dominion Bank acquired a new stake in Brunswick Co. (NYSE:BC – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 80,000 shares of the company’s stock, valued at approximately $5,763,000. Toronto Dominion Bank owned 0.11% of Brunswick as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Brunswick by 0.7% during the 1st quarter. BlackRock Inc. now owns 6,426,552 shares of the company’s stock worth $519,843,000 after purchasing an additional 46,519 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Brunswick by 20.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,662,239 shares of the company’s stock worth $239,693,000 after purchasing an additional 622,720 shares during the period. State Street Corp grew its stake in shares of Brunswick by 2.6% during the 1st quarter. State Street Corp now owns 2,121,553 shares of the company’s stock worth $171,612,000 after purchasing an additional 53,083 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Brunswick by 16.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,408,445 shares of the company’s stock worth $92,188,000 after purchasing an additional 198,631 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of Brunswick by 179.2% during the 3rd quarter. Nuveen Asset Management LLC now owns 1,085,451 shares of the company’s stock worth $71,043,000 after purchasing an additional 696,744 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on BC. Roth Capital reiterated a “buy” rating on shares of Brunswick in a research report on Thursday, February 2nd. Citigroup boosted their price objective on shares of Brunswick from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. BMO Capital Markets boosted their price objective on shares of Brunswick from $110.00 to $122.00 in a research report on Friday, February 3rd. B. Riley boosted their price objective on shares of Brunswick from $88.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Finally, Raymond James reduced their target price on shares of Brunswick from $100.00 to $94.00 in a report on Friday, April 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.25.

Brunswick Stock Up 2.9 %

BC opened at $82.67 on Monday. The firm has a 50 day moving average price of $82.44 and a 200 day moving average price of $78.62. The company has a market cap of $5.89 billion, a PE ratio of 9.96 and a beta of 1.53. Brunswick Co. has a 1 year low of $61.89 and a 1 year high of $93.15. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.81 and a current ratio of 1.86.

Brunswick (NYSE:BC – Get Rating) last posted its earnings results on Thursday, April 27th. The company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.71 billion. Brunswick had a net margin of 8.97% and a return on equity of 36.65%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 EPS. Sell-side analysts expect that Brunswick Co. will post 10.37 earnings per share for the current year.

Brunswick Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, May 15th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, May 12th. Brunswick’s dividend payout ratio (DPR) is 19.28%.

Insider Buying and Selling at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 327 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $86.23, for a total value of $28,197.21. Following the completion of the sale, the director now owns 20,499 shares of the company’s stock, valued at $1,767,628.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Brunswick news, Director Nancy E. Cooper sold 327 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $86.23, for a total value of $28,197.21. Following the completion of the sale, the director now owns 20,499 shares of the company’s stock, valued at $1,767,628.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ryan M. Gwillim sold 5,710 shares of the stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $88.28, for a total value of $504,078.80. Following the transaction, the chief financial officer now owns 28,522 shares of the company’s stock, valued at $2,517,922.16. The disclosure for this sale can be found here. Insiders sold 13,390 shares of company stock valued at $1,181,472 over the last 90 days. 0.58% of the stock is owned by corporate insiders.

Brunswick Company 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.