Brunswick Co. (NYSE:BC) Declares $0.42 Quarterly Dividend

Brunswick Co. (NYSE:BC) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Monday, May 13th will be paid a dividend of 0.42 per share on Friday, June 14th. This represents a $1.68 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, May 10th.

Brunswick has raised its dividend by an average of 17.4% annually over the last three years and has increased its dividend annually for the last 11 consecutive years.

Brunswick Price Performance

Brunswick stock traded up $0.82 during trading hours on Thursday, hitting $81.15. The stock had a trading volume of 503,806 shares, compared to its average volume of 741,899. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 14.93 and a beta of 1.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.75. Brunswick has a 1-year low of $66.47 and a 1-year high of $99.68. The stock’s fifty day moving average is $88.66 and its two-hundred day moving average is $85.00.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. Brunswick’s revenue was down 21.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.57 earnings per share. As a group, analysts predict that Brunswick will post 7.39 earnings per share for the current fiscal year.

Insider Activity at Brunswick

In other news, Director Nancy E. Cooper sold 357 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total transaction of $28,681.38. Following the completion of the sale, the director now directly owns 23,211 shares of the company’s stock, valued at approximately $1,864,771.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO David M. Foulkes sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the transaction, the chief executive officer now owns 272,626 shares in the company, valued at $23,748,450.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nancy E. Cooper sold 357 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total transaction of $28,681.38. Following the sale, the director now owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,053 shares of company stock worth $4,602,880. 0.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

BC has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on Brunswick from $88.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Raymond James downgraded Brunswick from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 4th. BNP Paribas reiterated a “neutral” rating and set a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Roth Mkm restated a “buy” rating and issued a $94.00 target price on shares of Brunswick in a report on Thursday, April 25th. Finally, Truist Financial decreased their price target on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.83.

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.