Waratah Capital Advisors Ltd. Sells 171,833 Shares of Brunswick Corporation $BC

Waratah Capital Advisors Ltd. trimmed its holdings in Brunswick Corporation (NYSE:BC) by 96.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,935 shares of the company’s stock after selling 171,833 shares during the period. Waratah Capital Advisors Ltd.’s holdings in Brunswick were worth $375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BC. First Horizon Corp bought a new stake in Brunswick in the 3rd quarter valued at $26,000. Jones Financial Companies Lllp increased its holdings in shares of Brunswick by 50.6% in the third quarter. Jones Financial Companies Lllp now owns 494 shares of the company’s stock valued at $31,000 after purchasing an additional 166 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Brunswick in the third quarter valued at $37,000. Quent Capital LLC bought a new position in shares of Brunswick in the third quarter valued at about $38,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Brunswick by 103.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 702 shares of the company’s stock worth $39,000 after buying an additional 357 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors.

Brunswick Price Performance

Shares of NYSE:BC opened at $81.15 on Thursday. Brunswick Corporation has a 12 month low of $41.00 and a 12 month high of $90.25. The stock has a market capitalization of $5.26 billion, a PE ratio of -38.28 and a beta of 1.39. The company has a current ratio of 1.44, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The firm has a 50 day moving average of $83.37 and a 200-day moving average of $71.74.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the firm posted $0.24 earnings per share. Brunswick’s revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts predict that Brunswick Corporation will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Monday, February 23rd will be issued a dividend of $0.44 per share. This is a positive change from Brunswick’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $1.76 annualized dividend and a dividend yield of 2.2%. Brunswick’s dividend payout ratio (DPR) is -83.02%.

Insider Transactions at Brunswick

In other Brunswick news, CEO David M. Foulkes sold 38,266 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the completion of the transaction, the chief executive officer owned 271,169 shares in the company, valued at approximately $23,472,388.64. This trade represents a 12.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher F. Dekker sold 4,981 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $87.38, for a total value of $435,239.78. Following the sale, the vice president owned 39,740 shares in the company, valued at approximately $3,472,481.20. The trade was a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BC shares. Wolfe Research set a $90.00 price target on shares of Brunswick in a research note on Monday, January 12th. Seaport Research Partners raised Brunswick to a “strong-buy” rating in a research report on Monday, December 8th. Jefferies Financial Group set a $115.00 price target on Brunswick and gave the stock a “buy” rating in a report on Tuesday, January 6th. DA Davidson upped their price objective on Brunswick from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Finally, Benchmark increased their price objective on Brunswick from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $84.00.

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.