Brunswick Co. (NYSE:BC) Sees Significant Growth in Short Interest

Brunswick Co. (NYSE:BCGet Free Report) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,950,000 shares, a growth of 6.8% from the February 29th total of 3,700,000 shares. Approximately 5.9% of the company’s shares are short sold. Based on an average daily trading volume, of 727,300 shares, the days-to-cover ratio is presently 5.4 days.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BC. Truist Financial dropped their price objective on Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Raymond James cut Brunswick from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 4th. DA Davidson reaffirmed a “neutral” rating and issued a $77.00 price objective on shares of Brunswick in a report on Friday, March 15th. B. Riley raised Brunswick from a “neutral” rating to a “buy” rating and upped their price objective for the company from $100.00 to $108.00 in a report on Tuesday, February 20th. Finally, Stifel Nicolaus upped their price objective on Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Brunswick presently has an average rating of “Moderate Buy” and a consensus price target of $93.58.

Check Out Our Latest Analysis on Brunswick

Insider Transactions at Brunswick

In related news, EVP John G. Buelow sold 2,426 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.12, for a total value of $211,353.12. Following the completion of the transaction, the executive vice president now directly owns 14,199 shares in the company, valued at approximately $1,237,016.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Christopher F. Dekker sold 6,234 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the sale, the vice president now owns 35,176 shares in the company, valued at approximately $2,973,427.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John G. Buelow sold 2,426 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.12, for a total value of $211,353.12. Following the sale, the executive vice president now owns 14,199 shares in the company, valued at approximately $1,237,016.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,696 shares of company stock worth $4,574,199. 0.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Brunswick

A number of hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. acquired a new stake in Brunswick during the fourth quarter worth approximately $28,000. Johnson Financial Group Inc. acquired a new stake in Brunswick during the fourth quarter worth approximately $30,000. Valley National Advisers Inc. acquired a new stake in Brunswick during the third quarter worth approximately $25,000. SRS Capital Advisors Inc. grew its stake in Brunswick by 347.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock worth $42,000 after purchasing an additional 337 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its stake in Brunswick by 14,566.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 440 shares of the company’s stock worth $43,000 after purchasing an additional 437 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Brunswick Trading Up 0.3 %

Brunswick stock traded up $0.28 during trading hours on Wednesday, hitting $94.18. The stock had a trading volume of 285,766 shares, compared to its average volume of 733,528. The company has a quick ratio of 0.59, a current ratio of 1.43 and a debt-to-equity ratio of 0.95. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 15.78 and a beta of 1.56. Brunswick has a one year low of $66.47 and a one year high of $99.68. The business’s 50 day simple moving average is $88.09 and its 200-day simple moving average is $83.64.

Brunswick (NYSE:BCGet Free Report) last posted its earnings results on Thursday, February 1st. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.21). The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.44 billion. Brunswick had a net margin of 6.57% and a return on equity of 29.78%. Brunswick’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.99 earnings per share. On average, equities analysts predict that Brunswick will post 7.49 EPS for the current fiscal year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from Brunswick’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, February 23rd. Brunswick’s dividend payout ratio (DPR) is 28.24%.

About Brunswick

(Get Free Report)

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.

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