AdvisorNet Financial Inc Trims Stock Holdings in Brunswick Co. (NYSE:BC)

AdvisorNet Financial Inc lowered its position in Brunswick Co. (NYSE:BC) by 54.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 600 shares of the company’s stock after selling 706 shares during the period. AdvisorNet Financial Inc’s holdings in Brunswick were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in Brunswick by 17.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after buying an additional 452,116 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Brunswick by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company’s stock worth $152,577,000 after purchasing an additional 144,416 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Brunswick by 7.4% during the third quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock worth $124,705,000 after purchasing an additional 102,780 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Brunswick by 13.5% during the third quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock worth $118,563,000 after purchasing an additional 168,384 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Brunswick by 2.7% during the third quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock worth $90,171,000 after purchasing an additional 28,781 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Stock Down 0.1 %

Brunswick stock opened at $67.54 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 16.80 and a beta of 1.54. Brunswick Co. has a fifty-two week low of $62.64 and a fifty-two week high of $96.65. The stock’s fifty day moving average is $72.83 and its two-hundred day moving average is $76.88.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BC. Benchmark restated a “buy” rating and set a $100.00 price target on shares of Brunswick in a research note on Friday, October 25th. Citigroup upped their price target on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Truist Financial cut their price target on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Stifel Nicolaus dropped their price objective on Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, B. Riley lowered Brunswick from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $95.00 to $88.00 in a report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.46.

Insider Buying and Selling at Brunswick

In related news, Director Nancy E. Cooper sold 366 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.19, for a total transaction of $29,349.54. Following the sale, the director now owns 24,557 shares of the company’s stock, valued at $1,969,225.83. This trade represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David M. Foulkes sold 23,829 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total value of $1,911,562.38. Following the sale, the chief executive officer now directly owns 251,094 shares in the company, valued at approximately $20,142,760.68. The trade was a 8.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,940 shares of company stock valued at $2,321,176. Insiders own 0.81% of the company’s stock.

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.