MQS Management LLC Takes Position in Brunswick Co. (NYSE:BC)

MQS Management LLC acquired a new position in Brunswick Co. (NYSE:BC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,270 shares of the company’s stock, valued at approximately $383,000.

Other large investors also recently added to or reduced their stakes in the company. XTX Topco Ltd boosted its stake in shares of Brunswick by 403.4% during the 2nd quarter. XTX Topco Ltd now owns 11,941 shares of the company’s stock worth $869,000 after acquiring an additional 9,569 shares during the last quarter. Garner Asset Management Corp raised its holdings in Brunswick by 5.0% in the 2nd quarter. Garner Asset Management Corp now owns 60,662 shares of the company’s stock worth $4,414,000 after purchasing an additional 2,915 shares during the period. Seven Eight Capital LP raised its holdings in Brunswick by 39.7% in the 2nd quarter. Seven Eight Capital LP now owns 6,252 shares of the company’s stock worth $455,000 after purchasing an additional 1,778 shares during the period. Hsbc Holdings PLC lifted its position in Brunswick by 181.7% during the second quarter. Hsbc Holdings PLC now owns 8,914 shares of the company’s stock valued at $645,000 after purchasing an additional 5,750 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Brunswick by 7.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,233 shares of the company’s stock valued at $441,000 after purchasing an additional 414 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Insider Activity at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 358 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $81.34, for a total value of $29,119.72. Following the completion of the sale, the director now owns 23,877 shares of the company’s stock, valued at $1,942,155.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BC has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Brunswick in a research note on Friday, July 26th. Citigroup decreased their target price on shares of Brunswick from $100.00 to $88.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Stifel Nicolaus dropped their price target on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Truist Financial decreased their price objective on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $94.00 target price on shares of Brunswick in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.23.

Brunswick Price Performance

NYSE:BC opened at $84.42 on Friday. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 15.69 and a beta of 1.51. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.70 and a quick ratio of 0.75. The business has a 50 day simple moving average of $77.88 and a 200-day simple moving average of $80.89. Brunswick Co. has a 1 year low of $66.47 and a 1 year high of $99.68.

Brunswick (NYSE:BC) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The business’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.35 EPS. Equities analysts forecast that Brunswick Co. will post 5.26 EPS for the current year.

Brunswick Announces Dividend

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

Brunswick 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.