Hsbc Holdings PLC Purchases 5,750 Shares of Brunswick Co. (NYSE:BC)

Hsbc Holdings PLC lifted its position in shares of Brunswick Co. (NYSE:BC) by 181.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,914 shares of the company’s stock after buying an additional 5,750 shares during the quarter. Hsbc Holdings PLC’s holdings in Brunswick were worth $645,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. purchased a new stake in Brunswick during the first quarter worth $124,840,000. Lord Abbett & CO. LLC purchased a new stake in shares of Brunswick during the 1st quarter worth $38,655,000. Swedbank AB bought a new stake in Brunswick during the first quarter valued at about $19,304,000. Vanguard Group Inc. grew its stake in Brunswick by 2.3% in the first quarter. Vanguard Group Inc. now owns 7,266,170 shares of the company’s stock valued at $701,331,000 after purchasing an additional 160,531 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Brunswick by 7.4% in 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 in the last quarter. 99.34% of the stock is currently owned by institutional investors.

Brunswick Stock Performance

Shares of NYSE BC opened at $84.53 on Monday. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 15.71 and a beta of 1.51. Brunswick Co. has a 12 month low of $66.47 and a 12 month high of $99.68. The company has a 50 day simple moving average of $78.41 and a two-hundred day simple moving average of $80.52. The company has a current ratio of 1.70, a quick ratio of 0.75 and a debt-to-equity ratio of 1.18.

Brunswick (NYSE:BC) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). The business had revenue of $1.44 billion during 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%. Brunswick’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.35 earnings per share. As a group, analysts predict that Brunswick Co. will post 5.26 earnings per share for the current year.

Brunswick Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 21st were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.99%. The ex-dividend date was Wednesday, August 21st. Brunswick’s dividend payout ratio 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 that occurred on Thursday, August 1st. The shares were sold at an average price of $81.34, for a total transaction 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 legal filing with the SEC, which is available through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BC has been the topic of a number of analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Brunswick in a research report on Thursday, July 25th. Truist Financial cut their price target 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. Benchmark reiterated a “buy” rating and set a $100.00 price objective on shares of Brunswick in a report on Friday, July 26th. JPMorgan Chase & Co. dropped their target price on Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, B. Riley decreased their price target on Brunswick from $108.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.23.

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.