Waterfront Wealth Inc. Sells 1,806 Shares of Brunswick Co. (NYSE:BC)

Waterfront Wealth Inc. lowered its stake in shares of Brunswick Co. (NYSE:BC) by 36.6% 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 3,124 shares of the company’s stock after selling 1,806 shares during the quarter. Waterfront Wealth Inc.’s holdings in Brunswick were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. lifted its position in shares of Brunswick by 7.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 12,660 shares of the company’s stock valued at $1,225,000 after buying an additional 930 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Brunswick by 7.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,087 shares of the company’s stock valued at $1,460,000 after acquiring an additional 1,016 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Brunswick by 2.8% in the fourth quarter. Vontobel Holding Ltd. now owns 30,723 shares of the company’s stock valued at $2,972,000 after acquiring an additional 824 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Brunswick in the fourth quarter worth $1,867,000. Finally, Birch Hill Investment Advisors LLC increased its position in shares of Brunswick by 21.2% during the fourth quarter. Birch Hill Investment Advisors LLC now owns 3,533 shares of the company’s stock worth $342,000 after purchasing an additional 618 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Stock Performance

Shares of NYSE BC traded up $0.02 during trading on Thursday, reaching $82.84. 35,000 shares of the company traded hands, compared to its average volume of 731,133. Brunswick Co. has a 12-month low of $66.47 and a 12-month high of $99.68. The company has a current ratio of 1.43, a quick ratio of 0.59 and a debt-to-equity ratio of 0.95. The stock has a market cap of $5.70 billion, a P/E ratio of 13.91 and a beta of 1.56. The firm’s fifty day simple moving average is $89.44 and its 200 day simple moving average is $84.49.

Brunswick (NYSE:BC) last released its quarterly 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). Brunswick had a net margin of 6.57% and a return on equity of 29.78%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the business posted $1.99 EPS. The firm’s quarterly revenue was down 14.0% compared to the same quarter last year. As a group, research analysts anticipate that Brunswick Co. will post 7.49 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were given a dividend of $0.42 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.68 dividend on an annualized basis and a yield of 2.03%. This is an increase from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio is currently 28.24%.

Analyst Ratings Changes

BC has been the subject of a number of recent analyst reports. DA Davidson reissued a “neutral” rating and issued a $77.00 price objective on shares of Brunswick in a research report on Friday, March 15th. Stifel Nicolaus raised their price target on Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Raymond James downgraded shares of Brunswick from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. BNP Paribas reiterated a “neutral” rating and issued a $82.00 target price (down from $94.00) on shares of Brunswick in a research note on Monday. Finally, Truist Financial cut 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 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.69.

Insider Buying and Selling at Brunswick

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

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.