Blue Trust Inc. Makes New $129,000 Investment in Brunswick Co. (NYSE:BC)

Blue Trust Inc. purchased a new position in shares of Brunswick Co. (NYSE:BC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,772 shares of the company’s stock, valued at approximately $129,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Brunswick by 2.3% in the first quarter. Vanguard Group Inc. now owns 7,266,170 shares of the company’s stock worth $701,331,000 after purchasing an additional 160,531 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Brunswick by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,917,051 shares of the company’s stock worth $185,483,000 after purchasing an additional 47,053 shares during the period. Baillie Gifford & Co. acquired a new position in Brunswick in the first quarter worth $124,840,000. Victory Capital Management Inc. boosted its holdings in Brunswick by 32.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,144,308 shares of the company’s stock worth $110,712,000 after purchasing an additional 278,082 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Brunswick by 5.2% in the first quarter. Jennison Associates LLC now owns 848,728 shares of the company’s stock worth $81,919,000 after purchasing an additional 42,332 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Insider Activity at Brunswick

In other news, Director Nancy E. Cooper sold 358 shares of Brunswick stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $81.34, for a total value of $29,119.72. Following the transaction, the director now directly owns 23,877 shares of the company’s stock, valued at $1,942,155.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.81% of the stock is currently owned by corporate insiders.

Brunswick Stock Performance

NYSE:BC opened at $76.33 on Tuesday. The company has a 50-day moving average of $75.34 and a 200-day moving average of $82.12. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 14.19 and a beta of 1.52. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. Brunswick Co. has a twelve month low of $66.47 and a twelve month high of $99.68.

Brunswick (NYSE:BC) last issued its earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The company’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.35 earnings per share. Analysts forecast that Brunswick Co. will post 5.59 earnings per share for the current fiscal year.

Brunswick Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, August 21st. Brunswick’s dividend payout ratio is 31.23%.

Wall Street Analyst Weigh In

BC has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. B. Riley cut their target price on Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley cut their target price on Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Robert W. Baird cut their target price on Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Citigroup cut their target price on Brunswick from $100.00 to $88.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.21.

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.