Maverick Capital Ltd. Raises Position in Brunswick Co. (NYSE:BC)

Maverick Capital Ltd. grew its holdings in Brunswick Co. (NYSE:BC) by 319.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,732 shares of the company’s stock after acquiring an additional 8,935 shares during the period. Maverick Capital Ltd.’s holdings in Brunswick were worth $854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of BC. Rise Advisors LLC lifted its stake in Brunswick by 249.5% in the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after acquiring an additional 232 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Brunswick by 43,700.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock worth $42,000 after purchasing an additional 437 shares during the last quarter. J.Safra Asset Management Corp grew its stake in shares of Brunswick by 77.1% during the first quarter. J.Safra Asset Management Corp now owns 602 shares of the company’s stock worth $58,000 after purchasing an additional 262 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in Brunswick by 291.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,041 shares of the company’s stock valued at $101,000 after buying an additional 775 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its stake in Brunswick by 2,478.0% in the first quarter. Prestige Wealth Management Group LLC now owns 1,057 shares of the company’s stock valued at $102,000 after buying an additional 1,016 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BC shares. Roth Mkm reiterated a “buy” rating and issued a $94.00 price objective on shares of Brunswick in a report on Thursday, July 25th. Truist Financial cut their price objective on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, July 8th. B. Riley lowered their target price on shares of Brunswick from $108.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Jefferies Financial Group reiterated a “hold” rating and set a $70.00 price target (down from $115.00) on shares of Brunswick in a research note on Friday, July 26th. Finally, Citigroup upped their price objective on shares of Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.23.

Insider Transactions at Brunswick

In related news, Director Nancy E. Cooper sold 358 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $81.34, for a total value of $29,119.72. Following the completion of the transaction, the director now directly owns 23,877 shares of the company’s stock, valued at approximately $1,942,155.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Brunswick Stock Up 1.9 %

Brunswick stock opened at $84.53 on Friday. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 15.71 and a beta of 1.51. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18. The stock has a 50 day moving average of $78.41 and a two-hundred day moving average of $80.58. Brunswick Co. has a twelve month low of $66.47 and a twelve month high of $99.68.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The company’s revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.35 earnings per share. As a group, research analysts expect that Brunswick Co. will post 5.26 earnings per share for the current year.

Brunswick Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 21st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Wednesday, August 21st. Brunswick’s dividend payout ratio is presently 31.23%.

Brunswick Company Profile

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.