Shell Asset Management Co. Cuts Stock Holdings in Brunswick Co. (NYSE:BC)

Shell Asset Management Co. decreased its holdings in shares of Brunswick Co. (NYSE:BC) by 3.4% during the first quarter, HoldingsChannel reports. The firm owned 4,020 shares of the company’s stock after selling 143 shares during the period. Shell Asset Management Co.’s holdings in Brunswick were worth $388,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Inspire Advisors LLC grew its position in shares of Brunswick by 7.9% in the 1st quarter. Inspire Advisors LLC now owns 2,268 shares of the company’s stock worth $219,000 after buying an additional 166 shares during the last quarter. Cubic Asset Management LLC lifted its stake in Brunswick by 4.4% during the 4th quarter. Cubic Asset Management LLC now owns 4,185 shares of the company’s stock valued at $405,000 after acquiring an additional 175 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Brunswick by 7.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,905 shares of the company’s stock valued at $280,000 after acquiring an additional 197 shares during the period. Rise Advisors LLC lifted its stake in Brunswick by 249.5% during the 1st quarter. Rise Advisors LLC now owns 325 shares of the company’s stock valued at $31,000 after acquiring an additional 232 shares during the period. Finally, J.Safra Asset Management Corp lifted its stake in shares of Brunswick by 77.1% in the 1st quarter. J.Safra Asset Management Corp now owns 602 shares of the company’s stock valued at $58,000 after purchasing an additional 262 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Trading Up 1.2 %

Shares of BC stock opened at $80.00 on Friday. 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 firm has a market cap of $5.41 billion, a PE ratio of 14.87 and a beta of 1.52. The company has a 50-day moving average of $76.11 and a two-hundred day moving average of $83.13. Brunswick Co. has a 1-year low of $66.47 and a 1-year high of $99.68.

Brunswick (NYSE:BC) last announced its 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). Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the business earned $2.35 EPS. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, analysts predict that Brunswick Co. will post 5.25 EPS for the current year.

Brunswick Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Wednesday, August 21st. Brunswick’s payout ratio is 31.23%.

Insider Activity

In other news, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $82.09, for a total value of $100,560.25. Following the completion of the transaction, the vice president now owns 58,076 shares of the company’s stock, valued at $4,767,458.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Nancy E. Cooper sold 357 shares of Brunswick stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the completion of the transaction, the director now owns 23,211 shares in the company, valued at $1,864,771.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total transaction of $100,560.25. Following the sale, the vice president now directly owns 58,076 shares in the company, valued at approximately $4,767,458.84. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BC. Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 target price (down from $115.00) on shares of Brunswick in a research note on Friday. B. Riley decreased their target price on shares of Brunswick from $108.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Truist Financial cut their price target on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. cut their price target on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Stifel Nicolaus cut their price target on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating for the company in a report on Friday, July 12th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.57.

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.