Sei Investments Co. Increases Stake in Brunswick Corporation $BC

Sei Investments Co. raised its position in shares of Brunswick Corporation (NYSE:BC) by 31.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 271,084 shares of the company’s stock after purchasing an additional 64,184 shares during the quarter. Sei Investments Co.’s holdings in Brunswick were worth $19,723,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BC. Quarry LP lifted its stake in shares of Brunswick by 38.4% in the fourth quarter. Quarry LP now owns 440 shares of the company’s stock worth $33,000 after buying an additional 122 shares in the last quarter. First Horizon Corp lifted its position in Brunswick by 31.7% in the 4th quarter. First Horizon Corp now owns 548 shares of the company’s stock valued at $41,000 after acquiring an additional 132 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in Brunswick by 2.4% during the 4th quarter. Verdence Capital Advisors LLC now owns 6,783 shares of the company’s stock valued at $504,000 after purchasing an additional 156 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Brunswick by 72.3% during the 4th quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock valued at $28,000 after purchasing an additional 159 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Brunswick by 15.2% in the 3rd quarter. NewEdge Advisors LLC now owns 1,332 shares of the company’s stock worth $84,000 after purchasing an additional 176 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Brunswick Stock Down 1.9%

Shares of BC stock opened at $80.45 on Thursday. The company has a current ratio of 1.38, a quick ratio of 0.62 and a debt-to-equity ratio of 1.13. Brunswick Corporation has a 12 month low of $55.60 and a 12 month high of $90.25. The stock has a market cap of $5.23 billion, a P/E ratio of -38.31 and a beta of 1.33. The company has a 50 day simple moving average of $81.28 and a two-hundred day simple moving average of $80.36.

Brunswick (NYSE:BC) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.24. Brunswick had a negative net margin of 2.47% and a positive return on equity of 13.30%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company posted $0.56 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. On average, research analysts expect that Brunswick Corporation will post 4.31 earnings per share for the current year.

Brunswick Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Thursday, August 20th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 20th. Brunswick’s dividend payout ratio (DPR) is currently -83.81%.

Insider Buying and Selling

In related news, CEO David M. Foulkes sold 25,853 shares of Brunswick stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $83.12, for a total transaction of $2,148,901.36. Following the transaction, the chief executive officer directly owned 267,528 shares in the company, valued at approximately $22,236,927.36. The trade was a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BC. Wall Street Zen downgraded Brunswick from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. JPMorgan Chase & Co. boosted their target price on Brunswick from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. DA Davidson restated a “neutral” rating and set a $76.00 target price on shares of Brunswick in a research note on Monday, May 18th. Morgan Stanley raised their price target on shares of Brunswick from $82.00 to $86.00 and gave the company an “equal weight” rating in a report on Tuesday, May 19th. Finally, Truist Financial lifted their price target on shares of Brunswick from $93.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Brunswick has a consensus rating of “Hold” and a consensus price target of $87.07.

About Brunswick

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.