Brunswick (NYSE:BC) Stock Price Down 5.8% – Here’s What Happened

Brunswick Co. (NYSE:BC) shares dropped 5.8% during mid-day trading on Tuesday . The stock traded as low as $80.83 and last traded at $80.83. Approximately 147,609 shares changed hands during trading, a decline of 79% from the average daily volume of 695,999 shares. The stock had previously closed at $85.82.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BC shares. Benchmark reiterated a “buy” rating and issued a $100.00 price objective on shares of Brunswick in a research report on Friday, October 25th. B. Riley cut Brunswick from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $88.00 in a research report on Tuesday. Northcoast Research upgraded Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Monday, July 29th. Finally, Citigroup raised their price target on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, September 27th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.54.

Brunswick Price Performance

The stock has a 50-day moving average of $81.92 and a two-hundred day moving average of $78.78. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 20.03 and a beta of 1.51.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be given a $0.42 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.68 annualized dividend and a dividend yield of 2.09%. Brunswick’s dividend payout ratio (DPR) is presently 41.79%.

Insider Buying and Selling at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 366 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of the sale, the director now directly owns 24,557 shares of the company’s stock, valued at $1,969,225.83. This represents a 1.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph W. Mcclanathan sold 4,745 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $80.14, for a total transaction of $380,264.30. Following the transaction, the director now owns 19,218 shares in the company, valued at approximately $1,540,130.52. The trade was a 19.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,940 shares of company stock valued at $2,321,176 in the last quarter. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BC. Massachusetts Financial Services Co. MA grew its holdings in shares of Brunswick by 17.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock worth $259,010,000 after purchasing an additional 452,116 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Brunswick by 88.0% in the second quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock valued at $176,903,000 after acquiring an additional 1,137,568 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 during the period. American Century Companies Inc. raised its holdings in Brunswick by 4.1% during the 2nd quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock worth $106,337,000 after purchasing an additional 57,605 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Brunswick by 13.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock valued at $118,563,000 after purchasing an additional 168,384 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

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.