Brunswick Co. (NYSE:BC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Brunswick Co. (NYSE:BC) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $89.23.

A number of brokerages recently commented on BC. Northcoast Research raised shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Monday, July 29th. Benchmark reiterated a “buy” rating and issued a $100.00 price target on shares of Brunswick in a research report on Friday, October 25th. Finally, Citigroup lifted their price objective on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, September 27th.

Brunswick Stock Up 4.2 %

BC opened at $85.82 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 21.35 and a beta of 1.51. Brunswick has a one year low of $69.05 and a one year high of $99.68. The business’s fifty day moving average is $81.92 and its two-hundred day moving average is $78.78.

Brunswick Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.68 annualized dividend and a yield of 1.96%. Brunswick’s payout ratio is currently 41.79%.

Insiders Place Their Bets

In other news, CEO David M. Foulkes sold 23,829 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the completion of the sale, the chief executive officer now directly owns 251,094 shares in the company, valued at $20,142,760.68. This represents a 8.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Nancy E. Cooper sold 366 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of the transaction, the director now directly owns 24,557 shares in the company, valued at $1,969,225.83. This trade represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,940 shares of company stock valued at $2,321,176. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Brunswick

Hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC increased its position in Brunswick by 12.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 12,808 shares of the company’s stock worth $1,055,000 after purchasing an additional 1,387 shares in the last quarter. Barclays PLC grew its stake in Brunswick by 78.6% during the third quarter. Barclays PLC now owns 118,189 shares of the company’s stock worth $9,907,000 after buying an additional 52,024 shares during the period. MML Investors Services LLC increased its position in shares of Brunswick by 30.7% in the third quarter. MML Investors Services LLC now owns 7,119 shares of the company’s stock worth $597,000 after acquiring an additional 1,671 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Brunswick by 26.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,087 shares of the company’s stock valued at $594,000 after acquiring an additional 1,484 shares during the period. Finally, Castleark Management LLC purchased a new position in shares of Brunswick in the 3rd quarter valued at $3,743,000. 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.