Insider Selling: Brunswick Co. (NYSE:BC) CEO Sells 23,829 Shares of Stock

Brunswick Co. (NYSE:BC) CEO David M. Foulkes sold 23,829 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total value of $1,911,562.38. Following the transaction, the chief executive officer now directly owns 251,094 shares in the company, valued at $20,142,760.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Brunswick Price Performance

Shares of NYSE BC opened at $81.56 on Wednesday. The stock’s 50-day simple moving average is $80.67 and its 200-day simple moving average is $78.84. The firm has a market capitalization of $5.38 billion, a PE ratio of 20.05 and a beta of 1.51. Brunswick Co. has a fifty-two week low of $69.05 and a fifty-two week high of $99.68. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97.

Brunswick Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.68 annualized dividend and a yield of 2.06%. Brunswick’s dividend payout ratio is currently 41.79%.

Hedge Funds Weigh In On Brunswick

Large investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new stake in shares of Brunswick in the 3rd quarter valued at about $26,000. Allspring Global Investments Holdings LLC lifted its stake in Brunswick by 43,700.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after buying an additional 437 shares during the last quarter. J.Safra Asset Management Corp boosted its holdings in shares of Brunswick by 77.1% in the first quarter. J.Safra Asset Management Corp now owns 602 shares of the company’s stock valued at $58,000 after acquiring an additional 262 shares during the period. Covestor Ltd grew its position in shares of Brunswick by 669.0% during the third quarter. Covestor Ltd now owns 969 shares of the company’s stock worth $81,000 after acquiring an additional 843 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Brunswick by 92.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,155 shares of the company’s stock valued at $97,000 after acquiring an additional 555 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BC. Jefferies Financial Group reissued a “hold” rating and set a $70.00 price target (down previously from $115.00) on shares of Brunswick in a research report on Friday, July 26th. Roth Mkm reiterated a “buy” rating and issued a $94.00 target price on shares of Brunswick in a report on Thursday, July 25th. Citigroup raised their price target on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Benchmark reiterated a “buy” rating and issued a $100.00 price objective on shares of Brunswick in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their target price on Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.23.

About Brunswick

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.