Morgan Stanley Trims Brunswick (NYSE:BC) Target Price to $86.00

Brunswick (NYSE:BC) had its target price lowered by Morgan Stanley from $91.00 to $86.00 in a report released on Friday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other brokerages also recently weighed in on BC. BNP Paribas reiterated a neutral rating and issued a $82.00 price objective (down from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Raymond James cut Brunswick from an outperform rating to a market perform rating in a research report on Thursday, January 4th. Stifel Nicolaus boosted their price target on Brunswick from $88.00 to $97.00 and gave the stock a buy rating in a research report on Wednesday, January 17th. Truist Financial lowered their price target on Brunswick from $115.00 to $105.00 and set a buy rating on the stock in a report on Friday, February 2nd. Finally, Roth Mkm restated a buy rating and set a $94.00 price objective on shares of Brunswick in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $92.83.

Brunswick Stock Up 1.2 %

NYSE:BC opened at $82.09 on Friday. The company has a current ratio of 1.68, a quick ratio of 0.75 and a debt-to-equity ratio of 1.16. The stock has a 50 day moving average of $88.94 and a 200-day moving average of $84.99. The firm has a market capitalization of $5.65 billion, a PE ratio of 15.26 and a beta of 1.56. Brunswick has a 52 week low of $66.47 and a 52 week high of $99.68.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Brunswick had a return on equity of 25.37% and a net margin of 6.24%. Brunswick’s quarterly revenue was down 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.57 earnings per share. Analysts predict that Brunswick will post 7.43 EPS for the current year.

Brunswick Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a dividend of $0.42 per share. This is a positive change from Brunswick’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.68 annualized dividend and a dividend yield of 2.05%. Brunswick’s dividend payout ratio (DPR) is 31.23%.

Insider Buying and Selling

In other news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the completion of the sale, the chief executive officer now owns 272,626 shares in the company, valued at approximately $23,748,450.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $87.11, for a total value of $3,048,850.00. Following the transaction, the chief executive officer now owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John G. Buelow sold 2,426 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $87.12, for a total value of $211,353.12. Following the sale, the executive vice president now owns 14,199 shares in the company, valued at approximately $1,237,016.88. The disclosure for this sale can be found here. Insiders have sold 52,696 shares of company stock worth $4,574,199 in the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Brunswick

Several hedge funds have recently made changes to their positions in the company. Valley National Advisers Inc. acquired a new stake in Brunswick during the 3rd quarter valued at $25,000. Principal Securities Inc. purchased a new position in shares of Brunswick during the fourth quarter valued at $28,000. Johnson Financial Group Inc. acquired a new position in shares of Brunswick in the 4th quarter valued at about $30,000. Rise Advisors LLC lifted its position in shares of Brunswick by 249.5% in the first quarter. Rise Advisors LLC now owns 325 shares of the company’s stock worth $31,000 after purchasing an additional 232 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of Brunswick by 347.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 434 shares of the company’s stock worth $42,000 after purchasing an additional 337 shares during the period. Hedge funds and other institutional investors own 99.34% 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.