New York State Teachers Retirement System decreased its position in shares of Brunswick Co. (NYSE:BC – Free Report) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,888 shares of the company’s stock after selling 4,086 shares during the quarter. New York State Teachers Retirement System owned 0.13% of Brunswick worth $7,699,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in BC. Ruedi Wealth Management Inc. acquired a new stake in shares of Brunswick during the 4th quarter worth approximately $31,000. Rockefeller Capital Management L.P. grew its stake in shares of Brunswick by 104.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 520 shares of the company’s stock worth $36,000 after purchasing an additional 266 shares during the period. Neo Ivy Capital Management acquired a new stake in Brunswick in the 2nd quarter valued at $46,000. International Assets Investment Management LLC acquired a new stake in Brunswick in the 1st quarter valued at $52,000. Finally, First Horizon Advisors Inc. grew its stake 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 acquiring an additional 166 shares during the period. Institutional investors and hedge funds own 93.12% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on BC. Raymond James dropped their price target on shares of Brunswick from $100.00 to $94.00 in a research note on Friday, April 28th. StockNews.com began coverage on shares of Brunswick in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Stifel Nicolaus dropped their price target on shares of Brunswick from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday. KeyCorp began coverage on shares of Brunswick in a research note on Wednesday, April 19th. They issued an “overweight” rating and a $100.00 price target on the stock. Finally, Citigroup lowered their target price on shares of Brunswick from $106.00 to $100.00 in a research note on Monday, June 26th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Brunswick has an average rating of “Moderate Buy” and a consensus price target of $101.38.
Brunswick Stock Down 1.6 %
Brunswick (NYSE:BC – Get Free Report) last posted its quarterly earnings results on Thursday, April 27th. The company reported $2.57 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 return on equity of 36.65% and a net margin of 8.97%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.53 EPS. As a group, equities analysts anticipate that Brunswick Co. will post 10.36 earnings per share for the current year.
Brunswick Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 23rd will be issued a $0.40 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $1.60 annualized dividend and a yield of 1.87%. Brunswick’s dividend payout ratio (DPR) is currently 19.28%.
Insider Activity at Brunswick
In related news, Director Nancy E. Cooper sold 327 shares of the business’s 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 sale, the director now directly owns 20,499 shares in the company, valued at approximately $1,767,628.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Brunswick news, CEO David M. Foulkes sold 13,000 shares of Brunswick stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $81.40, for a total value of $1,058,200.00. Following the completion of the transaction, the chief executive officer now directly owns 241,957 shares of the company’s stock, valued at approximately $19,695,299.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nancy E. Cooper sold 327 shares of Brunswick 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 transaction, the director now directly owns 20,499 shares of the company’s stock, valued at $1,767,628.77. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,636 shares of company stock worth $1,186,156. Company insiders own 0.74% of the company’s stock.
Brunswick Company Profile
Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through three segments: Propulsion, Parts & Accessories, and Boat. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.
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