TimesSquare Capital Management LLC Cuts Stock Position in Brunswick Co. (NYSE:BC)

TimesSquare Capital Management LLC lessened its position in Brunswick Co. (NYSE:BC) by 40.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 394,326 shares of the company’s stock after selling 265,857 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Brunswick were worth $25,505,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its holdings in Brunswick by 17.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock worth $259,010,000 after purchasing an additional 452,116 shares during the period. JPMorgan Chase & Co. increased its holdings in Brunswick by 7.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock worth $124,705,000 after purchasing an additional 102,780 shares during the period. Victory Capital Management Inc. increased its holdings in Brunswick by 13.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock worth $118,563,000 after purchasing an additional 168,384 shares during the period. Principal Financial Group Inc. increased its holdings in Brunswick by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock worth $90,171,000 after purchasing an additional 28,781 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Brunswick by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 701,269 shares of the company’s stock worth $58,780,000 after acquiring an additional 1,765 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

BC has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. DA Davidson lowered their price objective on Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. Roth Mkm lowered their price objective on Brunswick from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Morgan Stanley upped their price objective on Brunswick from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Truist Financial lowered their price objective on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Brunswick presently has an average rating of “Moderate Buy” and an average target price of $81.85.

Brunswick Stock Down 0.2 %

BC opened at $64.64 on Thursday. The business has a 50 day moving average price of $66.80 and a two-hundred day moving average price of $75.31. The company has a quick ratio of 0.63, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. The company has a market cap of $4.27 billion, a PE ratio of 34.02 and a beta of 1.54. Brunswick Co. has a 52 week low of $62.64 and a 52 week high of $96.65.

Brunswick (NYSE:BC) last issued its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. During the same quarter in the prior year, the business posted $1.45 earnings per share. As a group, research analysts anticipate that Brunswick Co. will post 4.19 EPS for the current year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.66%. This is an increase from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, February 24th. Brunswick’s dividend payout ratio is 88.42%.

Insider Activity at Brunswick

In related news, Director Nancy E. Cooper sold 433 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $65.65, for a total value of $28,426.45. Following the completion of the transaction, the director now directly owns 25,361 shares of the company’s stock, valued at $1,664,949.65. This trade represents a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.81% of the stock is currently owned by company insiders.

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.