Brunswick (NYSE:BC) Stock Price Down 5.8% – What’s Next?

Brunswick Co. (NYSE:BC) shares traded down 5.8% on Tuesday . The company traded as low as $80.83 and last traded at $80.83. 147,609 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 695,999 shares. The stock had previously closed at $85.82.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Benchmark restated a “buy” rating and issued a $100.00 price objective on shares of Brunswick in a report on Friday, October 25th. Finally, B. Riley cut shares of Brunswick from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $95.00 to $88.00 in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.54.

Brunswick Trading Down 0.1 %

The stock’s fifty day moving average price is $81.90 and its 200 day moving average price is $78.76. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17. The stock has a market cap of $5.32 billion, a PE ratio of 20.06 and a beta of 1.51.

Brunswick Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a yield of 2.08%. Brunswick’s dividend payout ratio (DPR) is 41.79%.

Insider Activity at Brunswick

In related news, Director Nancy E. Cooper sold 366 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.19, for a total transaction of $29,349.54. Following the transaction, the director now owns 24,557 shares in the company, valued at $1,969,225.83. This represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David M. Foulkes sold 23,829 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 251,094 shares in the company, valued at $20,142,760.68. The trade was a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,940 shares of company stock worth $2,321,176 over the last quarter. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. M&G Plc raised its position in shares of Brunswick by 15.1% during the 2nd quarter. M&G Plc now owns 55,218 shares of the company’s stock valued at $4,031,000 after purchasing an additional 7,261 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of Brunswick by 292.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,224 shares of the company’s stock valued at $671,000 after purchasing an additional 6,874 shares during the period. Swedbank AB purchased a new position in Brunswick during the first quarter valued at $19,304,000. Sei Investments Co. grew its stake in Brunswick by 7.6% during the second quarter. Sei Investments Co. now owns 221,073 shares of the company’s stock valued at $16,087,000 after acquiring an additional 15,602 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Brunswick during the second quarter valued at $8,289,000. 99.34% of the stock is currently owned by institutional investors.

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.