Brunswick Co. (NYSE:BC) Short Interest Update

Brunswick Co. (NYSE:BC) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 4,780,000 shares, an increase of 6.5% from the March 31st total of 4,490,000 shares. Currently, 7.1% of the company’s stock are short sold. Based on an average daily volume of 762,900 shares, the days-to-cover ratio is presently 6.3 days.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BC shares. Truist Financial dropped their price objective on shares of Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. B. Riley raised shares of Brunswick from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $108.00 in a report on Tuesday, February 20th. Stifel Nicolaus raised their price objective on shares of Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. BNP Paribas reissued a “neutral” rating and issued a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a report on Monday, April 15th. Finally, Roth Mkm reissued a “buy” rating and issued a $94.00 price objective on shares of Brunswick in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.83.

Insider Buying and Selling at Brunswick

In other news, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the completion of the sale, the chief executive officer now directly owns 272,626 shares in the company, valued at $23,748,450.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the completion of the sale, the chief executive officer now directly owns 272,626 shares in the company, valued at $23,748,450.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher F. Dekker sold 6,234 shares of Brunswick stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the sale, the vice president now owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,053 shares of company stock worth $4,602,880. 0.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Brunswick

Several hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its position in Brunswick by 3.4% in the third quarter. Commonwealth Equity Services LLC now owns 16,503 shares of the company’s stock worth $1,304,000 after purchasing an additional 535 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Brunswick by 5.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 3,658 shares of the company’s stock worth $289,000 after purchasing an additional 205 shares during the last quarter. Tectonic Advisors LLC increased its position in Brunswick by 10.3% in the third quarter. Tectonic Advisors LLC now owns 13,036 shares of the company’s stock worth $1,030,000 after purchasing an additional 1,222 shares during the last quarter. FinTrust Capital Advisors LLC increased its position in Brunswick by 40.6% in the third quarter. FinTrust Capital Advisors LLC now owns 1,101 shares of the company’s stock worth $87,000 after purchasing an additional 318 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in Brunswick by 2.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,488 shares of the company’s stock worth $434,000 after purchasing an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Price Performance

Shares of NYSE:BC opened at $80.33 on Thursday. Brunswick has a 1-year low of $66.47 and a 1-year high of $99.68. The firm’s 50 day simple moving average is $88.66 and its two-hundred day simple moving average is $85.00. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.75. The company has a market capitalization of $5.53 billion, a P/E ratio of 14.93 and a beta of 1.60.

Brunswick (NYSE:BC) last released its earnings results on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm posted $2.57 EPS. Brunswick’s quarterly revenue was down 21.7% compared to the same quarter last year. Research analysts expect that Brunswick will post 7.39 EPS for the current fiscal year.

Brunswick Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Friday, February 23rd. This is an increase from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s payout ratio is 31.23%.

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.