Brunswick Co. (NYSE:BC) Stake Boosted by Lodge Hill Capital LLC

Lodge Hill Capital LLC grew its holdings in shares of Brunswick Co. (NYSE:BC) by 24.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 355,500 shares of the company’s stock after purchasing an additional 70,000 shares during the period. Brunswick makes up about 7.0% of Lodge Hill Capital LLC’s portfolio, making the stock its 2nd biggest holding. Lodge Hill Capital LLC owned about 0.53% of Brunswick worth $25,870,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&G Plc raised its stake in Brunswick by 15.1% in the 2nd quarter. M&G Plc now owns 55,218 shares of the company’s stock worth $4,031,000 after acquiring an additional 7,261 shares during the last quarter. Jennison Associates LLC raised its position in Brunswick by 5.2% during the 1st quarter. Jennison Associates LLC now owns 848,728 shares of the company’s stock worth $81,919,000 after buying an additional 42,332 shares during the last quarter. Hawk Ridge Capital Management LP purchased a new stake in shares of Brunswick in the 4th quarter valued at $5,777,000. Russell Investments Group Ltd. increased its stake in shares of Brunswick by 11.4% in the first quarter. Russell Investments Group Ltd. now owns 82,356 shares of the company’s stock worth $7,942,000 after acquiring an additional 8,456 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Brunswick by 2.3% during 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 last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BC. Citigroup cut their price target on Brunswick from $100.00 to $88.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Northcoast Research raised Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday, July 29th. Robert W. Baird decreased their price target on Brunswick from $95.00 to $93.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Truist Financial dropped their price objective on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. cut their target price 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. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.23.

Brunswick Price Performance

Brunswick stock opened at $82.90 on Friday. The company has a fifty day simple moving average of $78.15 and a 200-day simple moving average of $80.88. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 15.41 and a beta of 1.51. The company has a quick ratio of 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. Brunswick Co. has a 52-week low of $66.47 and a 52-week high of $99.68.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.55 billion. Brunswick had a net margin of 5.92% and a return on equity of 23.46%. The firm’s 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. On average, equities analysts anticipate that Brunswick Co. will post 5.26 EPS for the current fiscal year.

Brunswick Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Wednesday, August 21st. Brunswick’s dividend payout ratio (DPR) is currently 31.23%.

Insider Buying and Selling at Brunswick

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

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.