Ensign Peak Advisors Inc Lowers Position in Brunswick Co. (NYSE:BC)

Ensign Peak Advisors Inc lessened its stake in Brunswick Co. (NYSE:BC) by 8.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 68,989 shares of the company’s stock after selling 6,210 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Brunswick were worth $6,872,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in BC. Harvest Fund Management Co. Ltd acquired a new position in shares of Brunswick during the 2nd quarter worth approximately $28,000. Van ECK Associates Corp acquired a new position in shares of Brunswick during the 1st quarter worth approximately $44,000. Key Financial Inc acquired a new position in shares of Brunswick during the 2nd quarter worth approximately $69,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Brunswick by 60.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 753 shares of the company’s stock worth $75,000 after buying an additional 284 shares during the period. Finally, Arkadios Wealth Advisors raised its stake in shares of Brunswick by 598.5% during the 2nd quarter. Arkadios Wealth Advisors now owns 1,404 shares of the company’s stock worth $139,000 after buying an additional 1,203 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.

In other news, VP Brenna Preisser sold 1,000 shares of the stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $102.75, for a total transaction of $102,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.44% of the company’s stock.

Several research analysts recently commented on BC shares. Truist Securities reduced their price objective on Brunswick from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, June 17th. Robert W. Baird reissued a “buy” rating on shares of Brunswick in a research note on Sunday, August 1st. Zacks Investment Research raised Brunswick from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research note on Monday. JPMorgan Chase & Co. increased their price objective on Brunswick from $106.00 to $113.00 and gave the company an “overweight” rating in a research note on Friday, June 18th. Finally, Raymond James increased their price objective on Brunswick from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Brunswick currently has a consensus rating of “Buy” and an average price target of $119.87.

Shares of BC opened at $98.71 on Thursday. Brunswick Co. has a 52-week low of $60.47 and a 52-week high of $117.62. The company has a market capitalization of $7.65 billion, a PE ratio of 13.39 and a beta of 1.84. The stock has a fifty day simple moving average of $99.60 and a two-hundred day simple moving average of $100.39. The company has a quick ratio of 0.92, a current ratio of 1.59 and a debt-to-equity ratio of 0.47.

Brunswick (NYSE:BC) last released its quarterly earnings results on Wednesday, July 28th. The company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.37. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Brunswick had a return on equity of 38.99% and a net margin of 10.81%. As a group, equities analysts anticipate that Brunswick Co. will post 8.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 24th were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Monday, August 23rd. Brunswick’s dividend payout ratio is presently 26.43%.

Brunswick Company Profile

Brunswick Corp. engages in the design, manufacture, and marketing of recreational marine products including marine engines, boats, and parts and accessories for those products. It operates through the following segments: Propulsion, Parts & Accessories and Boat. The Propulsion segment manufactures and markets a full range of outboard, sterndrive, and inboard engines, as well as propulsion-related controls, propellers, and rigging parts and accessories.

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Institutional Ownership by Quarter for Brunswick (NYSE:BC)

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