Teacher Retirement System of Texas Sells 2,187 Shares of Brunswick Co. (NYSE:BC)

Posted by on Jun 7th, 2023

Teacher Retirement System of Texas decreased its stake in shares of Brunswick Co. (NYSE:BC – Get Rating) by 8.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 24,260 shares of the company’s stock after selling 2,187 shares during the period. Teacher Retirement System of Texas’ holdings in Brunswick were worth $1,749,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Citizens Financial Group Inc RI boosted its holdings in Brunswick by 3.1% in the 3rd quarter. Citizens Financial Group Inc RI now owns 5,098 shares of the company’s stock valued at $334,000 after purchasing an additional 153 shares during the period. Van ECK Associates Corp boosted its holdings in Brunswick by 6.7% in the 4th quarter. Van ECK Associates Corp now owns 2,498 shares of the company’s stock valued at $180,000 after purchasing an additional 156 shares during the period. First Horizon Advisors Inc. boosted its holdings in Brunswick by 24.5% in the 4th quarter. First Horizon Advisors Inc. now owns 843 shares of the company’s stock valued at $61,000 after purchasing an additional 166 shares during the period. CI Investments Inc. boosted its holdings in Brunswick by 16.0% in the 4th quarter. CI Investments Inc. now owns 1,337 shares of the company’s stock valued at $96,000 after purchasing an additional 184 shares during the period. Finally, Carl P. Sherr & Co. LLC boosted its holdings in Brunswick by 2.6% in the 3rd quarter. Carl P. Sherr & Co. LLC now owns 7,954 shares of the company’s stock valued at $521,000 after purchasing an additional 201 shares during the period. Institutional investors own 93.01% of the company’s stock.

Brunswick Stock Up 5.8 %

Shares of NYSE BC opened at $82.02 on Wednesday. The firm has a market cap of $5.80 billion, a PE ratio of 9.88 and a beta of 1.53. Brunswick Co. has a 12-month low of $61.89 and a 12-month high of $93.15. The company’s fifty day simple moving average is $80.30 and its 200 day simple moving average is $79.67. The company has a quick ratio of 0.81, a current ratio of 1.86 and a debt-to-equity ratio of 1.17.

Brunswick (NYSE:BC – Get Rating) last issued its earnings results on Thursday, April 27th. The company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.71 billion. Brunswick had a net margin of 8.97% and a return on equity of 36.65%. Brunswick’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.53 earnings per share. As a group, sell-side analysts forecast that Brunswick Co. will post 10.41 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, May 15th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.95%. Brunswick’s dividend payout ratio is currently 19.28%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Brunswick from $105.00 to $94.00 and set a “buy” rating for the company in a report on Friday, March 17th. Raymond James dropped their target price on shares of Brunswick from $100.00 to $94.00 in a research report on Friday, April 28th. StockNews.com assumed coverage on shares of Brunswick in a research report on Thursday, May 18th. They issued a “buy” rating for the company. DA Davidson boosted their target price on shares of Brunswick from $82.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, February 7th. Finally, KeyCorp assumed coverage on shares of Brunswick in a research report on Wednesday, April 19th. They issued an “overweight” rating and a $100.00 target price for the company. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.25.

Insider Activity

In other news, Director Nancy E. Cooper sold 327 shares of the stock in a transaction dated 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 in the company, valued at $1,767,628.77. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Nancy E. Cooper sold 327 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $86.23, for a total transaction of $28,197.21. Following the completion of the sale, the director now owns 20,499 shares in the company, valued at $1,767,628.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David M. Foulkes sold 13,000 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $81.40, for a total transaction of $1,058,200.00. Following the sale, the chief executive officer now owns 241,957 shares of the company’s stock, valued at approximately $19,695,299.80. The disclosure for this sale can be found here. Insiders sold a total of 14,636 shares of company stock worth $1,186,156 over the last quarter. Insiders own 0.58% of the company’s stock.

About Brunswick

(Get Rating)

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.

Featured Stories

Institutional Ownership by Quarter for Brunswick (NYSE:BC)

Receive News & Ratings for Brunswick Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brunswick and related companies with MarketBeat.com's FREE daily email newsletter.