Brunswick Co. (NYSE:BC) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its holdings in Brunswick Co. (NYSE:BC) by 22.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 747,106 shares of the company’s stock after selling 218,490 shares during the period. Brunswick comprises about 1.1% of TimesSquare Capital Management LLC’s holdings, making the stock its 29th largest position. TimesSquare Capital Management LLC owned 1.07% of Brunswick worth $72,283,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BC. Raymond James Trust N.A. increased its position in shares of Brunswick by 4.4% during the fourth quarter. Raymond James Trust N.A. now owns 2,863 shares of the company’s stock worth $277,000 after purchasing an additional 120 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Brunswick by 4.3% during the third quarter. Verdence Capital Advisors LLC now owns 3,645 shares of the company’s stock worth $288,000 after buying an additional 149 shares during the last quarter. Wrapmanager Inc. grew its holdings in shares of Brunswick by 5.6% during the third quarter. Wrapmanager Inc. now owns 2,806 shares of the company’s stock worth $222,000 after buying an additional 149 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Brunswick by 2.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,488 shares of the company’s stock worth $434,000 after buying an additional 155 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Brunswick by 17.9% during the third quarter. Fifth Third Bancorp now owns 1,042 shares of the company’s stock worth $82,000 after buying an additional 158 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 272,626 shares in the company, valued at approximately $23,748,450.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ryan M. Gwillim sold 9,036 shares of Brunswick stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.10, for a total transaction of $787,035.60. Following the completion of the transaction, the chief financial officer now directly owns 28,966 shares in the company, valued at approximately $2,522,938.60. The disclosure for this sale can be found here. Insiders have sold a total of 53,053 shares of company stock valued at $4,602,880 in the last quarter. Company insiders own 0.81% of the company’s stock.

Brunswick Stock Up 2.6 %

BC stock traded up $2.14 during mid-day trading on Thursday, hitting $83.82. 741,690 shares of the company were exchanged, compared to its average volume of 736,871. The company has a market capitalization of $5.66 billion, a PE ratio of 15.42 and a beta of 1.60. The firm has a fifty day simple moving average of $88.09 and a 200 day simple moving average of $85.27. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 1.16. Brunswick Co. has a twelve month low of $66.47 and a twelve month high of $99.68.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm posted $2.57 earnings per share. Brunswick’s revenue was down 21.7% compared to the same quarter last year. On average, research analysts forecast that Brunswick Co. will post 7.39 earnings per share for the current fiscal year.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, May 10th. Brunswick’s dividend payout ratio (DPR) is 31.23%.

Analysts Set New Price Targets

Several brokerages have recently commented on BC. Morgan Stanley decreased their price target on Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. BNP Paribas reissued a “neutral” rating and set a $82.00 price target (down previously from $94.00) on shares of Brunswick in a research note on Monday, April 15th. DA Davidson reissued a “neutral” rating and set a $77.00 price target on shares of Brunswick in a research note on Friday, March 15th. Roth Mkm reissued a “buy” rating and set a $94.00 price target on shares of Brunswick in a research note on Thursday, April 25th. Finally, Truist Financial cut their price objective on Brunswick from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brunswick has an average rating of “Moderate Buy” and an average price target of $92.83.

About Brunswick

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.