AXQ Capital LP Takes $1.01 Million Position in Brunswick Co. (NYSE:BC)

AXQ Capital LP bought a new stake in shares of Brunswick Co. (NYSE:BC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 15,561 shares of the company’s stock, valued at approximately $1,006,000.

Several other hedge funds have also bought and sold shares of BC. Raymond James Financial Inc. bought a new stake in Brunswick during the fourth quarter valued at approximately $29,646,000. Massachusetts Financial Services Co. MA lifted its position in Brunswick by 17.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after purchasing an additional 452,116 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Brunswick by 1,120.5% in the 3rd quarter. Janus Henderson Group PLC now owns 354,631 shares of the company’s stock worth $29,725,000 after acquiring an additional 325,574 shares during the last quarter. Lightrock Netherlands B.V. bought a new stake in shares of Brunswick in the 4th quarter worth approximately $16,400,000. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Brunswick by 43.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 769,907 shares of the company’s stock worth $49,798,000 after acquiring an additional 232,622 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Brunswick Stock Up 0.5 %

Shares of Brunswick stock opened at $56.62 on Friday. The company has a current ratio of 1.65, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. The company’s fifty day simple moving average is $63.40 and its two-hundred day simple moving average is $72.57. The company has a market cap of $3.73 billion, a P/E ratio of 29.80 and a beta of 1.54. Brunswick Co. has a 12-month low of $54.97 and a 12-month high of $96.65.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same quarter in the prior year, the company posted $1.45 EPS. Research analysts anticipate that Brunswick Co. will post 4.19 EPS for the current year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were given a dividend of $0.43 per share. This is an increase from Brunswick’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Monday, February 24th. Brunswick’s payout ratio is presently 90.53%.

Wall Street Analyst Weigh In

BC has been the subject of a number of recent research reports. Truist Financial lowered their price objective on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. B. Riley upgraded shares of Brunswick to a “hold” rating in a report on Wednesday, February 12th. Citigroup lowered their price objective on shares of Brunswick from $92.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Robert W. Baird set a $90.00 price objective on shares of Brunswick in a report on Friday, January 31st. Finally, DA Davidson lowered their price objective on shares of Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Brunswick presently has a consensus rating of “Moderate Buy” and an average price target of $81.62.

Insider Buying and Selling at Brunswick

In related news, Director Nancy E. Cooper sold 433 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the completion of the transaction, the director now directly owns 25,361 shares in the company, valued at $1,664,949.65. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Randall S. Altman sold 3,417 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the completion of the transaction, the senior vice president now owns 26,683 shares of the company’s stock, valued at approximately $1,686,632.43. The trade was a 11.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.