Brunswick Co. (NYSE:BC) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in Brunswick Co. (NYSE:BC) by 24.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,982 shares of the company’s stock after selling 2,317 shares during the period. Truist Financial Corp’s holdings in Brunswick were worth $452,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BC. Creative Planning purchased a new stake in Brunswick in the third quarter valued at approximately $295,000. Wealth Enhancement Advisory Services LLC grew its holdings in Brunswick by 3.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,647 shares of the company’s stock valued at $390,000 after purchasing an additional 174 shares during the period. State of Alaska Department of Revenue grew its holdings in Brunswick by 3.5% in the third quarter. State of Alaska Department of Revenue now owns 7,691 shares of the company’s stock valued at $644,000 after purchasing an additional 260 shares during the period. US Bancorp DE grew its holdings in Brunswick by 3.0% in the third quarter. US Bancorp DE now owns 8,214 shares of the company’s stock valued at $689,000 after purchasing an additional 241 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in Brunswick by 447.5% in the third quarter. New York State Common Retirement Fund now owns 271,681 shares of the company’s stock valued at $22,772,000 after purchasing an additional 222,062 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Robert W. Baird set a $90.00 price objective on shares of Brunswick in a research note on Friday, January 31st. Roth Mkm decreased their price objective on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 24th. DA Davidson decreased their price objective on shares of Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Morgan Stanley boosted their price objective on shares of Brunswick from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Truist Financial reduced their target price on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.62.

Brunswick Trading Down 3.1 %

BC opened at $58.96 on Tuesday. The stock has a market capitalization of $3.88 billion, a PE ratio of 31.03 and a beta of 1.54. The firm’s fifty day moving average price is $65.53 and its 200 day moving average price is $74.57. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63. Brunswick Co. has a 12-month low of $58.61 and a 12-month high of $96.65.

Brunswick (NYSE:BC) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same period in the previous year, the firm earned $1.45 EPS. As a group, research analysts expect that Brunswick Co. will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 24th will be issued a $0.43 dividend. The ex-dividend date is Monday, February 24th. This is a boost from Brunswick’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 2.92%. Brunswick’s dividend payout ratio is currently 90.53%.

Insider Activity at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 433 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $65.65, for a total value of $28,426.45. Following the sale, the director now directly owns 25,361 shares in the company, valued at approximately $1,664,949.65. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Randall S. Altman sold 3,417 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total value of $215,988.57. Following the completion of the sale, the senior vice president now owns 26,683 shares in the company, valued at $1,686,632.43. The trade was a 11.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

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.